The European Investment Bank (EIB) has announced its advisory support to Greece’s National Investment Fund, Growthfund, aimed at enhancing the climate resilience of several key Greek ports. This initiative specifically targets the ports of Volos, Alexandroupoli, and Patras, focusing on conducting Climate Risk and Vulnerability Assessments (CRVAs) to address the challenges posed by climate change. Under the agreement, EIB Advisory will work closely with the port authorities to identify potential physical climate risks that could threaten port infrastructure and operations.
These risks may include coastal flooding, rising sea levels, and extreme weather events. The assessments aim to pinpoint specific adaptation measures that will improve long-term sustainability and economic resilience for these vital port facilities. EIB Vice-President Ioannis Tsakiris emphasized the critical role ports play in Greece’s economy and connectivity.
He highlighted that, given the increasing risks due to climate change, structured assessments and strategic solutions are necessary to protect essential port infrastructure and ensure its viability over time. Panagiotis Stampoulidis, Deputy CEO of Growthfund, noted that this partnership with the EIB marks an important collaboration focused on enhancing public infrastructure. He stated that the cooperation aligns with Growthfund’s strategic planning to bolster critical infrastructure amidst the challenges posed by climate change.
The initiative seeks to better protect the ports against extreme weather and broader climate crisis impacts. The advisory support will encompass three primary tasks: conducting baseline assessments of climate data and historical weather events, performing CRVAs to identify and mitigate climate risks, and evaluating the financial implications of these risks on operational costs and investments. This project aligns with EU climate policies, emphasizing the EIB’s commitment as the EU Climate Bank.
Through its advisory services, the EIB strives to assist stakeholders in overcoming investment barriers, ensuring effective and financially viable climate-proofing measures. The EIB continues to champion sustainable goals through its financing, contributing significantly to climate action and resilience across Europe.