Transparency in the EIB EIB and Information policy Roundtable meeting 29 June 2005
Transparency in the EIB
EIB and Information policy
Roundtable meeting
29 June 2005
“We have changed our perception of the EIB
and the EIB has changed its own
perception of its responsibilities “
M. Alain Lipietz, MEP, 7th March 2005
Transparency in the EIB
Transparency in the EIB
EIB Strategy
• New transparency policy published June 2004• Public consultation on Disclosure and Information Policy Review
May 2005
Transparency in the EIB
A cultural change
Recent developments:
• Transparency action plan based on the EIB Board of Directors’ decision of June 15th, 2004 : 87 % achieved
• In 18 months, an increase of 50% in the stock of documents disclosed through the EIB website www.eib.org
• Governance, strategy, policy, operations, finance
Transparency in the EIB
Publishing the Corporate Operational Plan
• Is distributed to each member of staff
• Is published on the website
• Translates strategic objectives into priority initiatives
• Presents operational priorities, indicators and targets
• Presents the allocation of resources
Transparency in the EIB
Fighting fraud,
corruption and money laundering
Antifraud policy including whistleblower protection
Close cooperation with OLAF
• Creation of an Inspection panel for citizens who cannot access the European Ombudsman
Transparency in the EIB
The Bank in the EU institutional set-up : Environment
• High on the agenda• A high level of lending : 35 % of individual loans in 2004
or EUR 10.4bn• Applying the highest environmental standards :
the case of the Equator PrinciplesAll point source emission limits and ambient pollution standards are stricter in the EU Directives
We intend to join forces with the Commission and others and promote the EU agenda on this matter
Transparency in the EIB
Publishing the
Annual Report of the Audit Committee
Transparency in the EIB
Controls & Evaluation
Audit CommitteeExternal auditors
Inspector General: Internal Audit + Operations Evaluation Internal Control Frameworks
European Court of AuditorsOLAF
European Ombudsman
Risk ManagementCompliance Office
Management Control Basel II
Transparency in the EIB
Governance
Statement on Governance at EIB
Corporate Social Responsibility
Transparency in the EIB
Dialogue with the European Parliament and the Economic and Social Committee
• Cooperation with the Assembly and Committees
• Report on implementation of European Parliament resolutions on EIB activity
• Economic and Social Committee
Transparency in the EIB
Sound financial practices
• EIB at the forefront
• Addressing the right of citizens to transparent and clear financial information
• EIB early adopter of international standards
• Transparency as a discipline for good management
Transparency in the EIB
The difficult tasks of promoting Europe
European Directivesvs
Equator Principles
Transparency in the EIB
Public Consultation
Objective: Highest level of transparency
Through its various financial activities the Bank ultimately delivers a service to European citizens
Consequently we want to better explain these activities, enhance the perceived value of its operations, strengthen support
by decision-makers and shapers
Tools: Increased transparency – Information and Disclosure
Transparency in the EIB
Public Consultation
Trade-off between EIB’s objectives :
• provide as much information as possible to all interested parties
• legal duty to protect the private and market-sensitive interests of business counterparts
EIB wants to remain a lean institution: efficiency is important for its customers, its shareholders, the European citizen
and all other stakeholders
Transparency in the EIB
Aarhus
• EIB supports Aarhus
• EIB will apply the Regulation
• Our disclosure policy will reflect the Aarhus Regulation
Transparency in the EIB
A Bank and a European Institution
A European Institution and a Bank
Transparency in the EIB
Disclosure and Information Policy Review
A public consultation
www.eib.org
Transparency in the EIB