Fossil fuels are fast losing their social license. It is becoming increasingly evident that countries’ continued reliance on dirty hydrocarbons escalates the climate crisis, worsens air pollution and enables war.
Long touted as a ‘bridge fuel,’ fossil gas now needs to be recognised by policymakers for the hurdle to the energy transition that it is, and multilateral development banks should urgently end support for gas projects and gas-dependent companies.
The energy transition has to be just and fast, with citizens, municipalities and workers as critical participants in the process. We are working to ensure no more public money is spent on coal, and public finance is used to accelerate this transition.
Stay informed
We provide updates in English from the Balkans and other coal regions.
IN FOCUS
Fossil gas
Fossil gas is the new coal. Although often labelled ‘natural,’ fossil gas is a major driver of the climate crisis. There is no more room for new investments in fossil gas projects if we are to avert the worst impacts of the climate crisis and set a path towards decarbonisation.
District heating
District heating and individual heating are still dominated by fossil fuels and inefficient burning of wood without regard to sustainability criteria, in combination with a low degree of energy efficiency. This has to change, since heating plays a crucial role in the transition into a clean and zero-carbon economy.
Just transition
No one should be left behind when we reconstruct our world into one driven by clean energy. Working on just transition brings all actors who believe in fair regional redevelopment to the same table: unions, industry, public administration, governments, civil society and others sharing this goal.
Documentary: Turning the Tide
Our documentary exposes, for the first time, the extent of financial support four of the world’s leading multilateral development banks (MDBs) – the World Bank, the European Investment Bank, the Asian Development Bank and the European Bank for Reconstruction and Development – have been providing to the global fossil fuels industry over the past 13 years.
Our analysis shows that since 2008, the oil, coal and gas business has been enjoying no less than EUR 81.5 billion in support from these government-owned financial institutions in the form of loans, grants, credit lines and guarantees.
Coal projects
Ugljevik power plant, Bosnia and Herzegovina
Commissioned in 1985, the 300 MW coal power plant in Ugljevik, Bosnia and Herzegovina, has become famous for emitting more sulphur dioxide than all of Germany’s coal power plants in 2019.
Pljevlja I power plant, Montenegro
The existing 225 MW Pljevlja thermal power plant in the north of Montenegro, near the borders with Serbia and Bosnia-Herzegovina, has been operating since 1982. The plant was originally planned to comprise two units but the second one was never built. The plant, along with the extensive use of coal and wood for heating, has caused unbearably bad air quality in the town.
Kostolac B power plant (B1, B2), Serbia
The Kostolac B power plant, consisting of 2 units of 350 MW each, first started operating in 1987. In 2023, the plant delivered 4445 GWh of electricity to the grid, nearly 20 per cent of the country’s coal-based generation.
Latest news
Czechia wants to phase out coal. But is natural gas the solution?
Bankwatch in the media | 10 March, 2025According to calculations by CEE Bankwatch, the Czech plants near Vrato and Opatovice alone are getting a total of almost 350 million euros in subsidies from the EU Modernisation Fund.
Read moreRomania: Key Black Sea gas pipeline goes on trial
Blog entry | 27 February, 2025‘Gas hub’ is Europe’s buzzword du jour, and the Romanian government certainly has high ambitions. With shiny new pipelines and a massive drilling rig in the Black Sea, Bucharest is working hard to capitalise on its neighbours’ fossil gas addiction – and to hell with the EU’s climate commitments. Even due process has been little more than an afterthought. Until this week.
Read moreHungary’s fracking shame: Green groups challenge expansion of controversial Corvinus project
Blog entry | 13 February, 2025Shale gas extraction, or fracking, is so infamous for its environmental impacts that it is banned in multiple European countries. In Hungary, however, the authorities are looking to expand a fracking project near the border with Romania, despite it already worsening the climate crisis and threatening local agriculture. Campaigners are challenging these risky plans.
Read moreRelated publications
Extra caution needed for Plomin C coal power plant project due to heightened corruption risks
Briefing | 2 October, 2014 | Download PDFThe consortium that has been chosen as the preferred bidder for the controversial Plomin C 500 MW coal power plant project in Croatia consists of the two companies Marubeni and Alstom. Both have been involved in corruption scandals recently that led to sanctions from financing institutions. This briefing offers details on these cases.
State support to the Kostolac coal power plant and mining basin in Serbia
Study | 30 June, 2014 | Download PDFThis report by the Belgrade-based Center for Research, Transparency and Accountability – CRTA shows that the Serbian government is supporting the Kostolac coal power plant and mines with loan guarantees and potentially VAT exemptions.
Winners and losers – Who benefits from high-level corruption in the South East Europe energy sector
Study | 24 June, 2014 | Download PDFEnergy is one of the biggest economic sectors in south-eastern Europe and is set to grow even further with the region moving closer to the EU. The region has high potential for energy efficiency and sustainable renewable energy investments. Yet, as this study illustrates with a number of examples, countries have shown little ability to absorb investments at a large scale without systemic corruption and patronage. See also an interactive map with summaries for each case at https://bankwatch.org/SEE-energy-corruption
