The European Investment Bank (EIB) Group has announced it will launch Phase 2 of its Climate Adaptation Plan during the 31st United Nations Climate Change Conference (COP31) in Antalya, Türkiye, committing at least €30 billion in financing between 2026 and 2030.
The initiative aims to accelerate global climate action by shifting focus from theoretical climate commitments to direct project execution. The funding allocation will support projects designed to address extreme weather risks, strengthen technical project preparation, mobilise private capital, and expand markets for climate resilience technologies across Europe and developing economies.
The announcement comes as the EIB prepares to assume the chairmanship of the Heads of Multilateral Development Banks (MDBs) Group next year. MDB climate finance reached a record $163 billion globally in 2025, including $103 billion allocated specifically to low- and middle-income economies.
Key operational, financial, and strategic measures highlighting the EIB Group’s COP31 platform include:
- Climate adaptation commitment: Allocates €30 billion for 2026–2030 to enhance physical infrastructure resilience, support nature-based solutions, and protect local jobs and public health systems.
- Global green bond initiative: Partners under an EU-led framework targeting the mobilisation of €20 billion in green investments across emerging economies through technical assistance and project pipeline development.
- GEMs risk database disclosure: Showcases the Global Emerging Markets Risk Database (GEMs), publishing over four decades of credit default and recovery data from MDBs to de-risk private sector investments in developing markets.
- Urban project preparation: Expands the City Climate Finance Gap Fund, which has assisted over 400 municipalities in transitioning urban climate concepts into bankable infrastructure projects.
- Public priority alignment: Integrates findings from the EIB’s 2026 Climate Survey of 23,000 EU citizens, which highlighted strong public demand for energy independence, cost reduction, and sustained decarbonisation.
Ambroise Fayolle, Vice-President of the EIB, stated that the overarching priority for COP31 must be rapid implementation, converting high-level policy targets into operational capital investments.
Fayolle added that working alongside development partners and international financial institutions will allow the EIB to turn national climate strategies into bankable projects while building resilient economic systems.
