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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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 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
Guest post: New report shows that New Kosovo Power Plant would worsen poverty and cripple a fragile economy
Blog entry | 12 January, 2016No-one will ‘freeze to death’ if the planned lignite-fired power plant in Kosovo does not receive support from multilateral development banks, but if it does, low-income households may well end up choosing between electricity and food. How can an institution, whose very mission is to end poverty, justify this project?
Read moreSerbia: EBRD Admitted Mistakes with EPS
Bankwatch in the media | 15 December, 2015CEKOR had a meeting with the EBRD Director for Serbia, Daniel Berg, at which the Report on EBRD Complaint Mechanism was considered. In accordance with the undertaken contractual obligations, the EPS should enhance its procedures not only for the case of Vreoci, to which the complaint referred, but also at all locations where it performs business operations.
Read more“EBRD priznao greške sa EPS-om”
Bankwatch in the media | 9 December, 2015Beograd — EBRD je priznao greške načinjene sa EPS-om u okviru projekata izvođenih u Vreocima i od preduzeća se očekuje da unapredi svoje procedure, saopštava CEKOR. Kako je navedeno na sastanku predstavnika CEKOR-a i direktora EBRD za Srbiju Danijela Berga, organizacija očekuje da EPS ubrza raseljavanje Vreoca, kao i da se angažuje i na društveno odgovornom raseljavanju domaćinstava obuhvaćenih zaštitnim zonama rudarenja u selima Junkovac, Radljevo, Baroševac, Zeoke u kolubarskom i sela Drmno u kostolačkom regionu.
Read moreRelated publications
Open Letter on the Implementation of the RED in the European Union
Letter | 29 April, 2024 | Download PDFIn this letter, we urge the European Commission and Member States to explicitly exclude waste incineration from the scope of ‘waste heat’ targets in the RED, prioritize waste prevention and establish ambitious recycling target and invest in innovative technologies for clean energy generation and resource recovery.
Cleaning up District Heating: Best technologies and real-life examples
Brochure | 18 April, 2024 | Download PDFIntended for practitioners, policymakers, civil society and the energy sector, this brochure reviews various public financing options that can help enable the transition to clean district heating.
The Modernisation Fund: An open door for fossil gas in Romania
Report | 26 March, 2024 | Download PDFThe Modernisation Fund is supposed to channel revenues from the EU’s carbon market into the energy transition in central and eastern Europe. But it’s actually being used to further deepen the region’s dependence on fossil gas.