The European Investment Bank Group has set out plans to provide at least €30 billion in financing for climate adaptation by 2030, doubling its support compared with the previous five years.
The funding would support measures to help areas cope with heatwaves, droughts, wildfires and floods, including work on energy networks, public buildings, water systems and climate-resilient agriculture, the EIB said in a statement on Thursday.
The plan — titled Adaptation Plan Phase 2 for 2026–2030 — combines financing, guarantees and advisory support, and was endorsed this week by the boards of the European Investment Bank and the European Investment Fund in Luxembourg.
“Climate adaptation is a no-brainer,” EIB Group President Nadia Calviño stated.
“Every euro invested in prevention and adaptation to climate change saves 10 euros in damages and repairs,” she added.
The EIB said it would try to make adaptation projects easier to identify and finance, particularly for smaller businesses, and would back European companies developing technologies such as cooling systems, resilient energy solutions and water-saving tools through its TechEU programme.
Tools to identify climate risks
The EIB said it is developing ClimateSET, an open-access digital tool created with the Copernicus Climate Change Service — the EU’s climate monitoring programme — to help businesses, public authorities and financial institutions assess climate risks and identify suitable adaptation measures.
ClimateSET is due to launch later this year and will be integrated into an updated version of the EIB Group’s Green Checker tool.
Alongside the adaptation plan, the boards of the EIB and EIF also approved €11.8 billion in new financing for projects, including €5.5 billion intended to strengthen Europe’s energy autonomy and reduce power costs.
The EIB noted that the package includes support for energy infrastructure in France, Germany, Hungary and Italy; renewable energy projects in Austria, the Netherlands and Romania; and energy efficiency measures in Spain and Sweden.
Outside the EU, the EIB Group said it would support climate-resilient water infrastructure in Argentina and projects to improve access to safe drinking water and sanitation in Ghana.
