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European Investment Bank affirms its $100 billion climate commitment

Climate Finance

The funding is particularly critical now that US participation and $2 billion pledge to the 2015 Paris climate agreement is likely to be scrapped by President Trump (Obama transferred a second $500 million installment three days before leaving office). The EIB financing, raised via green bonds, will be disbursed over the next five years to help up to 160 other countries meet their climate targets under the Paris accord. The U.S. is among 196 countries that have committed to the Paris agreement, with the goal of keeping the global temperature increase below 2-degrees Celsius.

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