The European Investment Bank (EIB) has signed an agreement with Sustainable Sàrl, a subsidiary of SUSU Partners AG, committing up to €62 million into the SUSI Renewable Energy Fund II. The agreement is guaranteed under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The signing underlines Europe’s strategy to invest in environmental sustainability and a sustainable, competitive, and secure energy supply. The portfolio of SUSI’s second renewable energy fund currently comprises already 13...

The European Commission released today a report on the remuneration rules for credit institutions and investment firms. It finds that the remuneration rules are generally effective in curbing excessive risk-taking behaviour and short-termism. These were precisely the reasons why the rules were introduced in the aftermath of the financial crisis. However, drawing in particular on work done by the European Banking Authority, two public consultations and an external study, the report concludes that, in certain cases, some of the rules may...

The European Investment Bank (EIB) has signed a subscription agreement with Sustainable Sàrl, a subsidiary of SUSI Partners AG (SUSI), putting into effect the EIB’s investment commitment of up to 62 million euro in the SUSI Renewable Energy Fund II (SUSI RE II). The Investment is guaranteed under the European Fund for Strategic Investments. The signing underlines Europe’s strategy to invest in environmental sustainability and a sustainable, competitive, and secure energy supply. The portfolio of SUSI’s second renewable energy fund...

On 26 July 2016, the Council adopted a decision establishing a revised order in which the member states will hold the presidency of the Council of the EU until 2030. Following the UK decision to relinquish the Council presidency in the second half of 2017, the Council decided to bring forward by six months the order of presidencies, starting from 1 July 2017. It also decided to add Croatia, which was not yet a member state at the time of the...

Today, President Juncker appointed Michel Barnier as Chief Negotiator in charge of leading the Commission Taskforce for the Preparation and Conduct of the Negotiations with the United Kingdom under Article 50 of the TEU. Today, the President of the European Commission, Jean-Claude Juncker, appointed Michel Barnier, former Vice-President of the European Commission and former French Minister, as Chief Negotiator in charge of leading the Commission Taskforce for the Preparation and Conduct of the Negotiations with the United Kingdom under Article...

The European Parliament aims to become the first 100% carbon neutral EU institution, as decided at the end of last year by the Bureau (President, Vice-Presidents and Quaestors). In order to fulfil this commitment, a call for tender was opened on 16 July 2016. Parliament’s first carbon-offsetting scheme, in force since September 2011, included emissions only from official staff travel and official cars, as well as energy use in Parliament buildings. The new scheme encompasses all Parliaments' irreducible carbon emissions,...

Economic, monetary and financial situation Outcome of the referendum on the United Kingdom’s membership of the EU On 24 June 2016 the Governing Council took note of the financial market developments following the outcome of the referendum on the United Kingdom's membership of the EU held on 23 June. In a press release published on 24 June 2016 on the ECB’s website, the Governing Council stressed that it would continue monitoring developments closely and that the ECB would continue to fulfil...