Deutsche Bundesstiftung Umwelt joins eeef to advance sustainable energy for Europe.
The Deutsche Bundesstiftung Umwelt (DBU) is the first private investor to join eeef alongside the European Commission, European Investment Bank, Cassa Depositi e Prestiti and DWS. The agreement has now been signed and increases the Fund’s total committed capital to EUR 160 million. “Without the mobilization of private capital, the investment sums required for climate protection will not be achieved in Europe. Projects like the eeef provide institutional investors with a meaningful opportunity for cooperation," said Michael Dittrich, Vice Secretary General and Head of Finance of the DBU.
This partnership with DBU is an important milestone in eeef’s development, as it enables further growth of the Fund and facilitates additional flow of private capital investments into climate financing, thereby achieving economic sustainability of cities and regions in the EU Member States. Their common targets should help the EU to achieve a more competitive, secure and sustainable energy system. Both DBU and eeef, with their commitment, take this challenge and opportunity in supporting The European Green Deal objectives, the ambitious package of initiatives released by the European Commission to make Europe climate neutral by 2050.
The Deutsche Bundesstiftung Umwelt (DBU) was established in 1990 as a foundation under private law on the basis of an act of the German Bundestag. Its mission is to promote innovative, exemplary and solution-oriented projects for the protection of the environment, with particular emphasis on small and medium-sized enterprises. The central themes of the foundation are climate change, the loss of biodiversity, the unsustainable use of resources and harmful emissions. The DBU is regarded as the largest environmental foundation in Europe and its funding themes are linked to the "Sustainable Development Goals" (SDGs) adopted by the UN. Please visit: www.dbu.de
The European Energy Efficiency Fund (eeef) S.A., SICAV-SIF is a “société d’investissement à capital variable” governed by Luxembourg law and was initiated by the European Commission in cooperation with the European Investment Bank. The initial capitalization provided by the European Commission was increased with contributions from the sponsors European Investment Bank, Cassa Depositi e Prestiti as well as the Investment manager DWS. The European Energy Efficiency Fund (eeef) is an innovative public-private partnership dedicated to mitigating climate change through energy efficiency measures and the use of renewable energy in the Member States of the European Union. It focuses on financing energy efficiency, small-scale renewable energy, and clean urban transport projects (at market rates), targeting municipal, local and regional authorities and public and private entities acting on behalf of those authorities. The European Energy Efficiency Fund (eeef) also aims to support the goals of the European Union and to promote a sustainable energy market and climate protection.