The European Investment Bank, the house bank of the European Union, which directs a fifth of its annual lending portfolio of 60 to 70 billion euros to energy projects, is currently reviewing the policy document that guides its lending to the power sector. On this occasion, Bankwatch is publishing a poster of positive and negative examples of the bank’s lending to energy projects.
With the final negotiations aimed at sealing agreement on the EU budget for 2014-20 now underway, environment NGOs are warning that a last minute amendment aimed at permitting EU subsidies for fossil fuels that are devastating for the climate must be rejected by negotiators of the future EU Cohesion Policy’s regional development funds.
Despite having a slew of good reasons not to support the damaging Ombla hydropower plan in Croatia, the European Bank for Reconstruction and Development still didn't confirm during recent meetings that it would withdraw from the project.
Istanbul – With the 2013 EBRD annual meetings underway and in spite of repeated commitments to sustainability, the bank is set to continue financing coal projects that will dangerously aggravate climate change.
The findings of a recent report entitled ‘The unpaid health bill: How coal power plants make us sick’, released by the Health and Environment Alliance (HEAL), detail the health impacts of existing coal in Europe and quantify the associated costs of mortality and chronic respiratory and cardiovascular disease due to coal pollution.
Yesterday, Green Action/Zelena Akcija, Greenpeace and Green Istria staged a spooky public action to raise attention for the findings of a new study that predicts approximately 17 early deaths annually due to the planned new 500 MW unit at the Plomin coal power plant in Croatia.