We are investing €175m in two Austrian savings banks to finance 1,750 affordable & climate-friendly rental flats in Salzburg and Innsbruck. This partnership will boost investment in the housing sector and support the sustainable growth of both cities. 👉 bit.ly/Austria_Housing

🏫Over 700 children & 100 staff in Vinnytsia Oblast are beginning the new school year in renovated & energy-efficient schools thanks to a joint effort by EU in Ukraine, European Investment Bank, @minfrastucture, MinFin Ukraine, UNDP Ukraine 🇺🇦, & local authorities. More 🔗 undp.org/ukraine/press-…

Electric vehicles are already displacing nearly 1.8 million barrels of oil every day, a number set to double by 2027 and triple by 2029, per BloombergNEF's Road Fuel Outlook. 🔗 Read more: bloom.bg/3XNsHTZ #FuelOutlook #ElectricVehicles

"I trust we can find consensus, if only because the alternatives look progressively bleaker". Address by Mario Draghi at the European Parliament plenary today audiovisual.ec.europa.eu/en/video/I-260…

We signed a €166m loan with BNZ to deploy 17 photovoltaic plants in Southern Europe, generating the equivalent of over 390,000 households' annual energy consumption. This reflects our continued commitment to build a cleaner & more sustainable future. 🔗bit.ly/GreenEnergyGen…

Multilateral developments banks, including the European Investment Bank, committed a record $125 billion last year for climate action, of which $75 billion was for mitigation and adaptation projects in low- and middle-income countries. Full report out today: eib.org/en/press/all/2…

Global electric car sales are on track to grow strongly again this year, reaching about 17 million With more than 1 in 5 cars sold worldwide in 2024 set to be electric, the rise of EVs is transforming the auto industry & the energy sector Read more → iea.li/3zttaSP

Both Sam Altman (OpenAI) and Dario Amodei (Anthropic) have made some version of the argument that AI will give us the power to "fix the climate". I find this a deeply problematic position, as the challenges of mitigation are as much political as technological.

“The world is changing rapidly, and Europe is falling behind.”

At today's Eurogroup, President Nadia Calviño discussed with EU Finance Ministers our Action Plan to deepen Europe's capital markets. New measures will unlock private savings & channel them into productive investment, boosting competitiveness and growth👇 bit.ly/CMU_ActionPlan

The world is adding a huge 670 GW of new renewable capacity in 2024! Between now & 2030, it is set to add 5,500 GW – even outperforming governments' own national targets This is equal to the current total power capacity of China, EU, India & US combined: iea.li/3Yhz572

Exciting news for Marseille! In collaboration with local authorities and European Investment Bank, we are supporting the extension of the city's tramway with €115 million under the Just Transition Fund 🚃 Connecting people & paving our journey towards cleaner cities 🚃 ec.europa.eu/regional_polic…

Our Board of Directors approved €5.8bn to support energy, water, transport, and urban development projects across Europe & beyond 🔵€2.2bn for clean energy & water 🔵€1.8bn for urban & education 🔵€1.1bn for transport 🔵€765m for business innovation ➡️bit.ly/BoD_October

What does this mean for projected global temperatures? Under current policies, there is a 2-in-3 chance or 66% likelihood, that warming is kept below 3.1C. Achieving the pledged NDCs, lowers this estimate by about half a degree to 2.6C. /20

Descent into idiocracy

On the bright side, we now have an answer to the Fermi Paradox

#COP29 takes place in a complex geopolitical landscape. But climate action remains more urgent than ever. This is why we dedicate over half of our annual lending to boosting the green transition in the EU & beyond. Read President Nadia Calviño's op-ed⤵️ bit.ly/COP29_OpEd

Big news! 🇬🇷 The European Commission, European Investment Bank, and Greece just signed an agreement to fund investments in decarbonising Greek islands. 🏝️ Learn more about how the EU is supporting a cleaner future 👉 climate.ec.europa.eu/news-your-voic…

I strongly recommend the ‘Democracy’ exhibition at National Gallery Athens, exploring the intersection between art and the fight against dictatorships in 🇬🇷 🇪🇸 🇵🇹. No place more fitting than Athens to reflect on the value of freedoms & rights we need to nurture and protect at all times.

" Welcome to Vichy America... a regime born of exhaustion, nihilism, and cynicism: the loss of faith in the old verities of the republic." open.substack.com/pub/johnganz/p…