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.
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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.
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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.
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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.
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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 entered into operation in 1987. In 2022, the plant delivered 4388 GWh of electricity to the grid, nearly 20 per cent of the country’s coal-based generation.
Latest news
Urgent call for central and eastern European countries to raise their NECP climate ambitions
Press release | 27 June, 2024With the deadline (30 June) for EU Member States to submit their national energy and climate plans (NECPs) fast approaching, concerns are growing that CEE countries are not showing the ambition needed to meet their 2030 climate and energy targets.
Read moreEU climate fund bankrolling dirty energy expansion
Press release | 25 June, 2024As global temperatures continue to soar and climate disasters hit the most vulnerable, the EU’s little-known Modernisation Fund is propping up unsustainable energy infrastructure.
Read moreAmid a growing climate mess, a dash for Black Sea fossil gas
Blog entry | 27 May, 2024Plans to drill for fossil gas off the coasts of Romania and Bulgaria are being advanced by a subsidiary of Austrian energy giant OMV, threatening to slow down Europe’s energy transition.
Read moreRelated publications
State Commission warns of corruption and illegality at Šoštanj
Bankwatch Mail | 13 March, 2012 |Fresh controversy hit the proposed 600 MW lignite power plant at Šoštanj in Slovenia in late February when the Slovenian State Commission for the Prevention of Corruption issued a report in which it says corruption conditions existed at the time of the awarding of the construction contract to French company Alstom and continue to exist today. The Commission report also states that Slovenian lobbying legislation has been breached by the goings-on at Šoštanj.
Letters to EBRD and EIB: Irregularities in the Sostanj project in Slovenia
Advocacy letter | 13 March, 2012 |With this letter, Bankwatch, together with Focus, Association for Sustainable Development and Greenpeace Slovenia are informing the EIB’s and EBRD’s highest decision-making bodies about recent developments in the case of the Sostanj lignite power plant that in our view should prompt the banks to drop their participation in this investment. The EBRD’s president Thomas Mirow replied on April 16, 2012 (download his response (pdf)) informing us about the suspension of the EBRD’s loan for the Sostanj project. Just one day later, another letter from the EBRD (download as pdf) informed us that the suspension is not a formal suspension.
Vreoci community requests EBRD to suspend credit arrangement with Kolubara
Advocacy letter | 13 March, 2012 | Download PDFThe Vreoci community from the Kolubara mining basin requests from the EBRD to suspend the loan arrangements for the Kolubara lignite mine due to the constant and increasing violations of human and property rights by the Public Company Mining Basin “Kolubara” – Lazarevac.