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Azerbaijan suspended from the EITI – a Bankwatch and Counter Balance statement

A decision to suspend Azerbaijan’s membership in the Extractive Industries Transparency Initiative (EITI) adopted yesterday (Mar 9) is the latest reminder for international financial institutes to avoid supporting the Southern Gas Corridor (SGC) project.

Support to fossil fuel projects from the European Fund for Strategic Investments (EFSI)

In September 2016 the European Commission published its proposal for the prolongation of the EFSI until 2020, to be achieved by amending the existing regulation. We welcome several improvements, but are concerned that they fall short of properly tackling the challenges and shortcomings identified, namely to provide additionality and catalyse the unambiguous move to reduce GHG reductions. On the basis of our in depth report Best Laid Plans, which analysed the 93 projects approved until July 2016 and further analysis of the EFSI entire portfolio till the end of 2016 under the Infrastructure and Innovation Window (IIW), we consider that the EFSI regulation needs considerable improvements in the energy area.

Juncker investment plan: deep reforms necessary for sustainable future

Cash that should be flowing into projects that boost environmental sustainability is instead fuelling outdated carbon-intensive projects like motorways, airports, and fossil-fuel infrastructure, according to a new report on Europe’s investment plan released today

Juncker’s extended investment plan is ‘greenwash’, say campaigners

Source: unknown author, ENDS Europe

Environmental NGOs have claimed the European Commission’s investment plans will “open the door” to more fossil fuel projects


European institutions accused of undermining Paris Agreement by funding dirty energy projects

Source: Madeleine Cuff, BusinessGreen

EU bodies including the European Investment Bank and the European Bank for Reconstruction and Development are backing fossil fuel projects that threaten progress on climate targets, NGOs claim

Despite the promises made in Paris in December last year, key European institutions continue to fund dirty energy generation over alternative energy sources, according to a new report released yesterday [...]

Guest post: Realities in the Czech renewable sector defy the ideas of the Paris Agreement

If fossil fuels' grip on the Czech Republic's energy sector remains, as current plans and policies confirm, the country's support for the Paris Agreement will be nothing but a sham, writes Karel Polanecky from Bankwatch's Czech member group Hnuti Duha.

The EU house bank is holding back Europe's shift to sustainable energy

On the occasion of the EU Sustainable Energy Week, a new Bankwatch analysis shows that the European Investment Bank (EIB) has been effectively hindering Europe's energy transition.

Europe's Keystone XL: Planned gas pipeline is reckless

The Southern Gas Corridor risks locking in higher fossil fuel dependence and wasting colossal amounts of public money.

9 reasons why the EU's bank is no climate leader

In the run-up to, during and now, with a global deal reached, after the Paris climate summit, the world’s largest public lender, the European Investment Bank (EIB), is positioning itself as a climate pioneer. But is the bank really fit for this role? Can the EIB make a break from its history of financing fossil fuels and polluting forms of transportation after decades of cosy relations with the biggest culprits?

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