GCAP worked with WS Atkins and Vivid Economics to carry out a Gap and Market Assessment for Climate Action for the European Investment Bank (EIB). Climate is one of EIB’s four priority areas, and with €90 billion invested globally in Climate Action over 2012-2016, the EIB has a leading role in climate finance among Multilateral Development Banks. EIB Group’s investment in Climate Action Mitigation and Adaptation reached over 29% of its total annual lending in 2018. To sustain this growth in volume and impact of its lending, the EIB commissioned a market and gap analysis in support of its Climate Strategy. The primary aim of this analysis is to identify opportunities across EIB geographies that will:

  • Support the diversification of EIB Climate Action in terms of country, region and sector;
  • Increase the EIB’s Climate Action impact and relevance; and
  • Enable the EIB to reach its Climate Action targets.

The project involved extensive engagement with staff across all parts of the bank, as well as interviews with key external stakeholders. GCAP developed a Market Drivers Framework which allowed use to assess and categorise the barriers and enabling factors to EIB enhancing its Climate Action, and taking advantage of new investment opportunities. Recommendations from the project will inform EIB’s strategic direction on both climate change adaptation and mitigation.