Investments tied to climate crisis are ‘clearly going to stay,’ panel hears

One of the top officials at the European Union’s lending arm says investments connected with the climate crisis and the low-carbon transition are “clearly going to stay.” Ambroise Fayolle, vice president of the European Investment Bank, was asked about the issue by National Observer while on stage at global clean energy talks hosted in Vancouver. “It’s clearly going to stay. The needs are huge. We know that in Europe only, we would need to invest 400 billion euros ($602 billion) every year to catch up on the needs of energy efficiency,” Fayolle told National Observer managing editor Mike De Souza at a panel hosted at the Clean Energy Ministerial. “So for this reason only, I think that they will stay. They (investors) need support from the public sector in order to finance very big projects or to take more risks. Often private investors say they would like to be more active, but it is either too costly for them in terms of capital, or they would need to have something more.” The Clean Energy Ministerial conference, the 10th of its kind, brings together energy ministers from 25 countries as well as other officials from government, industry and non-governmental organizations […]

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