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
Stanari lignite power plant, Bosnia and Herzegovina
EFT’s 300 MW Stanari power plant, constructed by China’s Dongfang, and financed by the China Development Bank, is located near Doboj in Bosnia-Herzegovina, in the Republika Srpska part of the country.
Kolubara B lignite-fired power plant, Serbia
The Kolubara B thermal power plant site is situated near Kalenic village, 60 km south-west of Belgrade, at the northern side of the Tamnava Open Cast Mine. The decision to build the 2 x 350 MW plant was taken in 1983 and construction started in 1988. Construction progressed slowly until 1992, when work was suspended due to sanctions against Serbia. At this stage, about 40 per cent of the facility had already been constructed, partly with the assistance of a World Bank loan.
Kostolac B3 power plant, Serbia
In December 2024, Serbia’s state-owned utility Elektroprivreda Srbije commissioned a new 350 MW lignite plant at Kostolac in the country’s north-east. The project is receiving high level support and Chinese financing, but is plagued by concerns over its economics, pollution and legal irregularities.
Latest news
Western Balkan governments still complicit in deadly coal pollution – new report
Press release | 17 June, 2025In 2024, Western Balkan governments’ chronic law enforcement failures allowed sulphur dioxide (SO2) pollution from the region’s antiquated coal power plants to exceed legal limits by six times, according to the seventh edition of Bankwatch’s Comply or Close report, published today (1). Dust and nitrogen oxides (NOx) pollution from coal plants also continued to exceed legal limits.
Read moreEnvironmental groups once again call on KfW to stop funding biomass plants in Serbia
Press release | 5 June, 2025Four environmental NGOs have today written to KfW Directors [1], calling once again for an end to ongoing funding for biomass heat and power plants in Serbia, and demanding answers to previously raised concerns that campaigners say KfW evaded in a previous response. The letter follows a visit to Novi Pazar biomass plant which KfW helped fund by representatives of CEE Bankwatch and Earth Thrive.
Read moreJoint NGO statement: New EU budget must ensure dedicated funds for environmental protection and just transition in the Western Balkans
Press release | 28 May, 202568 civil society organisations have today issued a joint statement calling on the EU to ensure dedicated funds for environmental protection and just transition of coal-dependent regions in the Western Balkans in the post-2027 EU budget.
Read moreRelated publications
Comply or Close 2025: Seven years of deadly legal breaches by Western Balkan coal plants
Report | 17 June, 2025 | Download PDFThe end of 2024 marked seven years since the deadline passed for power plants in the Western Balkans to meet new air pollution standards.
The EBRD’s climate contradiction: Syrdarya fossil-gas plant locks Uzbekistan into Russian energy dependence
Issue paper | 29 May, 2025 | Download PDFThe USD 200 million investment in the 1,500-megawatt combined-cycle gas turbine power plant in the Syrdarya region of Uzbekistan exposes significant contradictions between the EBRD’s stated commitments and its actual financing decisions.
Joint NGO statement on the future of the Instrument for Pre-accession Assistance (IPA) in the post-2027 EU budget
Joint statement | 28 May, 2025 | Download PDFThis joint statement signed by 68 civil society organisations calls on the EU to ensure dedicated funds for environmental protection and just transition of coal-dependent regions in the Western Balkans
