10 years after the Juncker Plan: Can blended finance be the game changer for climate investments?

• Florence School of Transnational Governance
• STG Climate

Session as part of EUI Climate Week 2026

The EU’s transition to net zero requires a substantial increase in capital investment such as in the deployment of clean technologies, in energy, industry, transport and in buildings. The European Commission estimates that an additional annual investment of €500 bn is needed until 2030. Blended finance can leverage private investment in the transition to net zero through targeted use of public investment funds. The so-called Juncker plan, officially ‘The Investment Plan for Europe’, initiated the use of blended finance to mobilise private investment. Subsequent European investment plans, such as the NextGenerationEU and the Recovery and Resilience Fund, have continued this effort. However, the European Court of auditors found that the European Fund for Strategic Investments (EFSI) had overstated the investment mobilised and the multiplier effect, and that investments were concentrated in a few larger EU member states.

This session as part of EUI Climate Week aims to address the question: to what extent has blended finance helped the EIB scale up net‑zero investments, what lessons can be drawn from unsuccessful cases such as Northvolt, and what role should the EU’s MFF play in further strengthening the use of blended finance.

Chair: Jan Cornillie, European University Institute and 3E

Speakers:

• Martin Ewald, Scaled
• Christoph Kuhn, EIB

Conclusion: Jan Cornillie, European University Institute and 3E

Session co-organised with the European Investment Bank. More information and the full programme of the EUI Climate Week 2026 can be found here.