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 2020, the plant delivered 4,571 GWh of electricity to the grid, nearly 18 per cent of the country’s coal-based generation. Kostolac B also released 95,097 tonnes of SO2 in 2020, which was enough to breach the national – not plant level – 2020 ceiling for this pollutant by 1.74 times.
Latest news
New EBRD mining strategy promotes unstable dependency on raw materials exports, say NGOs
Press release | 1 June, 2012Moscow, Russia — In response to a public presentation today from the European Bank for Reconstruction and Development of its new mining strategy, NGOs CEE Bankwatch Network and Greenpeace Russia are calling on the bank to deprioritise investments in mining and mining-related infrastructure in order to avoid deepening the dependency of its countries of operation on raw materials exports.
Read moreHunger strike begins in protest of cemetery removal at EBRD coal mine in Serbia
Press release | 30 May, 2012Belgrade – An official from the southern Serbian town of Vreoci has begun a hunger strike on Monday to protest against what he considers the unlawful exhumation of a local cemetery to make way for coal extraction at the nearby Kolubara mine. Last year the European Bank for Reconstruction and Development approved a loan of 80 million euros to support the expansion of lignite mining at Kolubara.
Read moreEBRD energy lending report: conflicting investments end up contradicting climate science
Press release | 17 May, 2012London – Almost half of the 6.7 billion euros lent by the European Bank for Reconstruction and Development (EBRD) between 2006-2011 goes to support for fossil fuels, according to a report issued today by CEE Bankwatch Network. Support for coal, oil and gas must be discontinued altogether, argues Bankwatch, if the bank’s commendable efforts on increasing financing for renewables and energy efficiency are to have a positive impact in the global fight against climate change.
Read moreRelated publications
The Western Balkan power sector: between crisis and transition
Report | 5 December, 2022 | Download PDFAs energy transition in the Western Balkans slowly proceeds, energy crisis has hit the region on four fronts: electricity prices, technical problems at coal plants, lack of water for hydropower, and skyrocketing biomass prices. This crisis is both a se
Heating from renewable and alternative energy sources for the city of Motru. Solutions and recommendations.
Study | 17 November, 2022 | Download PDFThe study Heating from renewable and alternative energy sources for the city of Motru. Solutions and recommendations. identifies and analyses sustainable heating solutions for the city of Motru, located in Gorj County, Romania. It assesses the current
The EBRD must stay away from the unsustainable conversion of Tuzla’s coal plant and prioritise renewables in the district heating sector
Briefing | 9 November, 2022 | Download PDFThis briefing offers an overview of the European Bank for Reconstruction and Development’s (EBRD) ongoing assessment of whether to grant a EUR 50 million loan in order to replace unit 3 of the Tuzla coal plant with a waste and biomass incineration syst
