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Key Findings
- Climate Risk and Vulnerability Assessments (CRVAs) will be conducted for the ports of Volos, Alexandroupoli, and Patras.
- Physical climate risks will be identified and addressed, including coastal flooding, rising sea levels, and extreme weather events.
- Assessments will help define specific adaptation measures to enhance long-term sustainability and economic resilience.
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Benefits for Greece
The partnership between the European Investment Bank (EIB) and Growthfund aims to strengthen the climate resilience of Greece’s key ports. This initiative will focus on conducting Climate Risk and Vulnerability Assessments (CRVAs) for the ports of Volos, Alexandroupoli, and Patras. * Ports are critical for Greece’s economy and connectivity, but they face increasing risks due to climate change. * Climate change is one of the greatest challenges facing Greece’s economy, society, and connectivity. * The collaboration between Growthfund and the EIB is aligned with Growthfund’s strategic planning to strengthen key public infrastructure. ###
The EIB’s Role in Climate-Proofing Infrastructure
The European Investment Bank (EIB) will provide advisory support to Growthfund to help strengthen the climate resilience of key Greek ports. * The advisory support will be structured around three key tasks:
* Baseline assessment: analysing climate data and historical extreme weather events affecting the selected ports. * Climate Risk and Vulnerability Assessment (CRVA): identifying climate risks, assessing their impact, and proposing adaptation measures. * Financial impact assessment: estimating how climate risks could affect operational costs, revenues, and investment needs. * The project aligns with EU climate policies and best practices, including the European Commission’s Technical Guidance on Climate Proofing Infrastructure and PIANC’s guidelines for climate adaptation in ports and waterways. ###
The EIB’s Commitment to Sustainable Development
The agreement reinforces the EIB’s role as the EU Climate Bank, supporting investments that build resilience and promote sustainable infrastructure. * The EIB is the long-term lending institution of the European Union, owned by its Member States. * The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. * All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. ###
What’s Next?
The partnership between Growthfund and the EIB will help Greece’s ports adapt to the challenges of climate change. * The project will focus on conducting CRVAs for the ports of Volos, Alexandroupoli, and Patras. * The assessments will help define specific adaptation measures to enhance long-term sustainability and economic resilience. ###
Conclusion
The partnership between the European Investment Bank (EIB) and Growthfund is a significant step forward in strengthening the climate resilience of Greece’s key ports. By working together, they aim to provide structured assessments and strategic solutions to protect vital port infrastructure and ensure its long-term viability. The project aligns with EU climate policies and best practices, and it reinforces the EIB’s role as the EU Climate Bank. This collaboration will help Greece’s ports adapt to the challenges of climate change and build resilience for the future.
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