The European Investment Bank (EIB) commits to a climate-neutral Europe by 2050 and aims to leverage EUR 1 trillion of green investments over the period 2021-2030. To reach these ambitious targets, financing volumes dedicated to green investments need to increase sharply and EIB partner institutions such as European commercial banks, national promotional banks or leasing entities must be mobilised. This in turn requires processes and tools that allow EIB’s partner financial intermediaries to effectively identify, validate and report on green investments on a large scale.
To support the large scale deployment of funding to small, standardised green investments, the EIB commissioned an online tool for use by financial intermediaries: the Green Eligibility Checker. Launched in November 2021 at COP26, the Green Checker offers an effective way for financial intermediary staff to originate, appraise, and report on green investments financed through the EIB. By indicating which investments meet the EIB green criteria, the Green Eligibility Checker contributes to building financial intermediary staff confidence and ability to inform their clients. When using the Green Eligibility Checker to appraise the financing of projects, tool users further benefit from EIB green eligibility validation as well as from the streamlined, guided processes embedded in the tool. The Green Checker also provides climate impact estimates and facilitates reporting to EIB thanks to the ‘Green Checker Results’ PDF report. By making the Green Eligibility Checker freely available, the tool also seeks to inspire the wider community of financial institutions and other market participants, and thereby contributes to redirecting investment flows to more carbon neutral projects.
adelphi lead the development of the Green Eligibility Checker and continues to advance the tool in close cooperation with the EIB. Besides front-end and back-end development, adelphi also developed underlying impact assessment methodologies and works with the EIB to align the tool’s set-up with financial intermediary needs and with ongoing developments of the EU Taxonomy. The team also tested the tool with target users and promoted its use in dedicated webinars. The Green Eligibility Checker represents one of three key pillars of the European Investment Bank’s ‘Green Gateway - advise for financial institutions’ initiative and benefits from funding support of the European Investment Advisory Hub. adelphi’s engagement is part of a framework contract in support of the EIB’s Climate Action Support Facility, for the implementation of which adelphi has partnered up with IPC International Projekt Consult GmbH, and iC consulenten Ziviltechniker GesmbH. iC consulenten also contributed to parts of the Green Checker development.