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The European Investment Bank has signed an agreement with Amundi, a French asset management company, to ensure better access for European companies and green projects to market financing to speed up their energy transition.
This will be achieved by boosting supply and demand of green finance through the development of three new segments on the European green bond market, offering attractive yields to institutional investors, and the creation of a European Green Transaction Network and a Scientific Committee to set and disseminate green standards.
To meet its climate commitments under the Paris Agreement and finance the associated energy transition, Europe is missing an estimated €180bn in financing a year until 2030. To reach this level of investment, green finance must mobilise all of the debt capital markets.