Europe's leaders have failed today to live up to their commitments and make the EU's energy future more sustainable. The Commission's 'Energy Union' strategy endorsed today by EU Heads of States prioritises new fossil fuel infrastructure at the expense of investments into energy savings and clean energy sources.
The European Investment Bank's slide towards secrecy, manifest in its newly adopted transparency policy, has been lambasted by the intergroup of the European Parliament responsible for transparency and corruption.
Bucharest - A Romanian court has accepted a petition filed by Bankwatch Romania and Greenpeace Romania, and cancelled the environmental permit which allowed cutting down 130 hectares of forests - equivalent to approximately 260 football pitches - to make way for the expansion of the Pinoasa lignite open pit.
Brussels - Yesterday the European Investment Bank (EIB) formally adopted a revised transparency policy including controversial exceptions to the disclosure of internal documents. This watered down transparency policy comes right before the bank will start implementing the € 315 billion Juncker plan and risks undermining the impact of EU recovery efforts.
Croatian electricity company HEP on Monday announced that it had signed an exclusivity agreement to conduct further negotiations with Japan's Marubeni - a company which has been implicated in several corruption scandals.
The European Semester should be further developed to become an effective governance and enforcement mechanism that can ensure coherence between national fiscal policies and overarching sustainable development objectives. Environmental NGOs have carried out a consultation among their networks of members and national experts and are providing concrete Country Specific Recommendations for 21 Member States as well as the Eurozone in general.
Brussels – The vision of Energy Union to be outlined by the European Commission tomorrow proposes making Europe a world leader in renewables and energy efficiency, but at the same time envisages significant investments undermining that goal, such as gas import infrastructure, nuclear and dirty unconventional fossil fuels.
The European Investment Bank recently confirmed plans to finance the Trans-Adriatic Pipeline from Greece via Albania to Italy. Yet a coalition of local mayors will do whatever it takes to stop the project.
The European Commission President Juncker’s ‘Investment plan for growth and jobs’ is aiming at mobilising EUR 315 billion of additional investments by 2018. A proposed regulation setting up the framework of the EFSI is currently negotiated in the European Parliament and the Council and its adoption is envisaged for June 2015.
This briefing, prepared by Bankwatch, Counter Balance, Friends of the Earth Europe and WWF Europe stresses that this regulation should give clarity on how the fund will contribute to the achievement of EU long-term objectives, its added-value for the EU and the expected benefits for European citizens: all projects benefiting from the fund should explicitly accelerate the transition of Europe’s economies, infrastructure investments should aim at the decarbonisation, decentralization and decrease of energy and transport systems, R&D focusing on the absolute decoupling of resource use and production.