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Dr. Jekyll and Mr. Hyde: An Energy Union torn between clean energy and fossil fuels

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.

EU priority gas pipeline faces fierce opposition in Italy

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.


EIB Climate Action undermined by bank's fossil fuel lending

Brussels -- Ahead of a public consultation on the European Investment Bank’s Climate Action Programme tomorrow in Brussels, Bankwatch insists that, if the bank’s pro-climate efforts are to be effective, the EIB must give up its loans to fossil fuels and other climate-damaging sectors.

Natural gas left, right and centre at Energy Union conference in Riga

Massive infrastructure for transporting natural gas is shaping up to be a centre piece of the Energy Union put forward by the Juncker Commission. This was also the impression Bankwatch campaigners had at an Energy Union conference in Riga last week.


Bankwatch stops cutting of another 22 hectares of forest for coal mining in Romania

In a file launched by Bankwatch in 2014, a Romanian court annulled [ro] 27 deforestation permits last week, preventing 22 hectares of forest in the country’s south-west to be cut for the expansion of an open-pit coal mine.


Long awaited investigation into Glencore for alleged tax dodging shows EU Bank's lack of transparency and vulnerability to abuse

Brussels - The European Investment Bank (EIB) is virtually powerless in the face of abuse of its own funds, an internal investigation published last week by the EIB shows. What’s even worse is that the EIB’s new transparency policy - to be adopted in the coming weeks - would formally allow the bank to keep such internal investigations into abuses of its funds secret, hereby undermining public scrutiny of public money.

European Investment Bank confirms plans to finance Trans-Adriatic Pipeline

On February 2, during the annual meeting between civil society and the European Investment Bank’s (EIB) Board of Directors, the EIB revealed that the Trans-Adriatic Pipeline (TAP) was among its priority projects for 2015 in the Balkans.[*]

The Trans-Adriatic Pipeline, planned to stretch from Greece via Albania and the Adriatic Sea to Italy, is part of the Southern Gas Corridor, a chain of projects meant to bring natural gas to Europe from the Shah Deniz offshore gas field in Azerbaijan.


Civil society aiming to clamp down on EIB tax haven evasiveness

Pressure is mounting on the European Investment Bank to take swift action that addresses weaknesses in its policy on lending to businesses based in tax havens.

EBRD suspends loan for Romanian coal plant Turceni

Bucharest -- The European Bank for Reconstruction and Development (EBRD) confirmed this week that it has suspended plans to finance the refurbishment of the Turceni coal power plant in Romania. The project is currently subject to a number of legal challenges on environmental grounds and Romanian authorities are investigating allegations of corruption at the plant.

Letter to EIB directors: EIB final draft of transparency policy is insufficient

One week before the European Investment Bank’s board of directors is expected to approve the bank’s new transparency policy, 13 civil society groups warn the EIB's directors that the draft policy amounts to a weakening of the already dismal transparency standards of the EU’s house bank.

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