EIB Groups Eila Kreivi shares her expertise on sustainable finance

EIB Group's Eila Kreivi shares her expertise on sustainable finance

 May 18, 2023

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The EIB Group is a sustainability-focused employer, with many of its employees focusing on helping create a greener world.

Chief Sustainable Finance Advisor for the European Investment Bank, Eila Kreivi, holds considerable expertise regarding sustainable finance. 

"Sustainable finance is about including environmental, social and governance considerations in investment decisions. It leads, in the long-term, to more investment in sustainable projects and activities. It plays a key role in delivering on the objectives of the European Green Deal, which aims to boost the green transition. This means moving towards a green economy through sustainable technology, industry and transport," explains Eila. 

Sustainable finance is a tool 

Eila highlights the benefits of sustainable finance at a time of economic and energy crisis: "Sustainable finance is a tool. Someone has to decide to build something first, and then sustainable financing can be used as a tool to finance the investment. Sustainable financing will help people connect to investors and flag their strategy. It can also help with pricing and to gain access to financing, a process we need to make much easier and fast."

Another strength of the European Investment Bank i(EIB) is that they employ engineers, biologists and social development specialists who can judge which projects and technologies are promising, including from an environmental and social perspective.

Creating job opportunities 

Eila ascertains that sustainability is an essential and important issue. "Even if green transition isn’t the first thing on people’s minds, it’s paramount. All the scarcity issues with food, medicine and energy are interlinked, and dependent on biodiversity, environment and the climate," she suggests. 

"This is an important topic, even for those who don’t like it. Ignoring the green transition’s urgency and the need for sustainability is like when your house is on fire, but you’re worried about the water bill if you extinguish it. People also tend to forget that there is another part of it, this creates job opportunities," says Eila. "In Finland, we have plenty of wind power, and we’re expanding it further. Foreign direct investment from steel companies, for example, comes in because they want to set up production in Finland so that they can call their product “green steel,” as it would be produced with green energy. It’s an investment that creates growth and new jobs."

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