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 2021, the plant delivered 4,320 GWh of electricity to the grid, nearly 20 per cent of the country’s coal-based generation.
Latest news
How renewable energy could reinvigorate Romania’s slumbering district heating sector
Blog entry | 3 March, 2023The lack of modernisation and rehabilitation of Romania’s district heating systems is felt most strongly by the inhabitants, but it also affects local budgets and has a negative impact on the environment.
Read moreIlliberalism alert: draft law to shut down civil society awaits vote in the Romanian senate
Blog entry | 22 February, 2023Under the absurd claim that the country doesn’t have enough motorways or hydropower generation capacity because of NGOs’ actions in court challenging environmental and construction permits, the Romanian parliament is going after civil society altogether and on multiple fronts.
Read moreEBRD: Everything is peachy, just trust us!
Blog entry | 17 February, 2023The European Bank for Reconstruction and Development (EBRD) appears keen to finance a major new pipeline to import fossil gas from Greece to North Macedonia, which would lock the country into increased fossil gas use for decades. Yet when the rationale for this is questioned, the EBRD fails to provide relevant data to justify its claims.
Read moreRelated publications
Request for information on EIB role in Ostroleka C coal-fired power plant in Poland
Advocacy letter | 3 October, 2011 | Download PDFPress information from September 2011 suggested that ENERGA S.A. is holding conversations with the European Investment Bank about financing a new coal-fired unit in Rzekun also referred to as Ostroleka C. With this letter, Bankwatch inquired whether the EIB is having conversations with ENERGA S.A. and if yes, at which stage they are.
The Polnoc power plant in Poland. A plan for the biggest greenfield coal project in Europe.
Briefing | 10 August, 2011 | Download PDFAt a whopping 2000 MW, the planned Polnoc power plant (Elektrownia Polnoc) in northern Poland would be the largest greenfield coal-fired power plant in Europe. Located in the Pomerania region, which until now has had no coal industry and in recent years has witnessed an unprecedented surge in the wind energy projects, the plant would sit perilously close to three Natura 2000 sites and cool itself with waters from the nearby Vistula river.
Investment plan for Sostanj lignite power plant TES6 (version 4, unofficial translation)
Official document | 4 August, 2011 | Download PDFThe new version of the investment programme for a new unit at the Sostanj lignite power plant was prepared by the project promoter after the Slovene government expressed doubts over the economic viability of the investment. All the three previous versions of the document were hidden from the public eye.
