CEKOR, as a non-governmental watchdog organisation, has since 1999 strived to promote sustainable development in Serbia and has a strong track record in supporting local communities harmed by development projects to advocate for their rights.
The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the EU financing is a program that aims to promote energy efficiency in the housing stock through the funding of certain regional/local initiatives supporting energy renovation of private residential buildings in France.
All the Western Balkans countries have committed to increase their share of renewable energy by 2020 to reach between 25 and 40 percent of their energy mix, as part of their obligations under the Energy Community Treaty. Yet this is far from obvious when examining their investment plans for new power generation capacity. Governments are actively planning to build 2800 MW of new coal plants with construction cost of at least EUR 4.5 billion. In contrast, these countries are only planning to build around 1166 MW of wind power plants, at an estimated cost of EUR 1.89 billion.
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.