The European Investment Bank’s lending for climate action between 2013 and 2015 shows that further structural changes are needed to align the bank’s portfolio with the objectives of the Paris agreement.
The Ohrid-Peshtani expressway project - financed by the European Bank for Reconstruction and Development via a EUR 160 million loan for the National Roads Programme - involves the construction of a new section on the A3 express to the Albanian border. The new 12.5 kilometre section is planned to pass through the Galicica national park - a rare and important natural site with
abundant biodiversity, that was listed as an emerald site (a future Natura 2000
site) and was designated in 2014 part of UNESCO’s World Network of Biosphere Reserves.
MHP is at the centre of concern for local communities and civil society organisations in Ukraine, because of the way the company engages stakeholders, acquires land, and impacts the environment, water and the local economic development. Since 2010 the European Bank for Reconstruction and Development (EBRD) has approved three loans for MHP, totalling USD 205 million.
Whether or not the company is in compliance with Ukrainian law, local people think they are not adequately protected and do not have an equal voice against a large corporation if it decides to begin construction.
Protests have in recent weeks broken out across rural Georgia after construction resumed on several large hydropower projects financed by the European Bank for Reconstruction and Development (EBRD). Demonstrators have complained that the projects were repeatedly decided behind closed doors, and that poor assessments of the social and environmental consequences mean their livelihoods are under threat.
In October 2015 the independent Project Complaint Mechanism (PCM) of the European Bank for Reconstruction and Development found that the bank breached its environmental and social policy with regards to safeguarding the rights of communities impacted by mining operations of the Serbian state energy company EPS. The EBRD responded by requiring EPS to develop “an overall Resettlement Framework which will apply to all of its activities” and by committing to monitor the implementation of the plan.
The so called Article 10c of the EU ETS Directive allows lower-income Member States from central and eastern Europe to give allowances for free to electricity installations under the condition that they invest at least the equivalent monetary value of the free allowances in the modernisation and diversification of their energy systems. This briefing contains a detailed review of the experience so far and offers recommendations for the post 2020-period.
Within the framework of the EU’s 2030 climate and energy policies, the Modernisation Fund aims to support lower-income Member States in meeting their investment needs related to energy efficiency, including financing small-scale investments projects and the modernisation of energy systems. Based on experience with funding mechanisms at the European Investment Bank, the European Commission and the EU budget, this briefing recommends several structural elements for the establishment of the Fund.
This report examines a selection of cases monitored by CEE Bankwatch Network and its partners in recent years and highlights some of the weaknesses observed in the EBRD’s approach to environmental, social, democracy and development issues.
On 15 April 2016 the European Bank for Reconstruction and Development (EBRD) will mark its 25th anniversary. This opportunity should kick-start a debate about what the London-based public bank has achieved since it started operations in 1991 and to reflect on its future.
Countries of the European Neighbourhood have received a boost to their energy sectors in the last decade, thanks in part to the prominent role played by the EU as a catalyst of both policy reforms and financing. This study examines EU financing for the energy sector in 16 countries of the European Neighbourhood between 2007 and 2014.
Eleven years after the European Investment Bank’s decision to support the construction of the Nam Theun 2 Dam in Laos and after the International Panel of Experts found social and environmental programmes to fail in mitigating the project's impacts, CEE Bankwatch Network submitted this complaint to the EIB Complaints Office with regards to maladministration in the EIB's appraisal and monitoring of the project.
In this declaration, the community of Khaishi, a village in the mountains in north west Georgia, called for a the cancellation of the contract for the construction of the 700MW Khudoni dam. Khaishi residents demand the recognition of customary land rights and the inclusion of Svans into the decision-making over the project.
The study shows how the European Investment Bank (EIB) has valid reasons to start embracing the energy efficiency first principle and implement it in its lending decision: significant energy savings will be needed regardless of the climate mitigation route taken and to enable the proper roll out of its climate strategy and lead the energy transition. The study looks at how the EIB can do this through its lending policies and financial decisions.