A clash is raging between nature and finance. On the one hand, the EU is striving to improve the deteriorating state of nature across Europe, with initiatives like the Biodiversity Strategy 2030 and the European Green Deal. On the other, massive amounts of public money continue to flow to infrastructure projects with devastating impacts on the natural world. Our work where finance meets the natural world advocates for adequate protection and restoration projects to ensure a green future for all.
IN FOCUS
Rivers and communities
The countries of the Energy Community Treaty have diverse energy mixes, but hydropower has traditionally played a strong role in many of them. Albania is almost completely reliant on dams for its domestic electricity generation, followed by Georgia with an average of 80 per cent of electricity generated by hydropower and Montenegro with an average of 55 per cent.
EU funds and biodiversity
In May 2020, EU leaders committed to an ambitious Biodiversity Strategy for 2030, outlining the clear need to act on biodiversity loss and address the failing health of nature.
Discussions are now underway to agree on a new EU budget which will run from 2027 to 2034. This represents a golden opportunity to improve biodiversity spending to achieve the objectives of the biodiversity strategy in full.
As well as addressing the biodiversity crisis, strategically supporting nature through EU funds is also one of the most effective ways to tackle climate change, while providing jobs and improved health at the same time.
Yet, with many of the previous strategy’s objectives left unachieved, the pressure now mounts for this decade. Never before has there been so much potential – and urgency – to use EU funds and investments to address the biodiversity crisis.
Related projects
Tashlyk pumped storage plant, Ukraine
The Tashlyk pumped storage plant is a massive hydropower project. Its operation extends to protected areas with peculiar microclimate features that are rich in biodiversity and endemic flora. These unique landscapes create a spectacular tourist attraction. The territory is also of great historical and archaeological significance. However, all of this would be flooded if the Tashlyk pumped storage plant expansion project is completed.
Boskov most hydropower plant, North Macedonia
Boskov Most was one of 18 hydropower greenfield projects planned by the North Macedonian government in the Mavrovo National Park. After five years of campaigning, we convinced the European Bank for Reconstruction and Development about the folly of this project and to cancel its EUR 65 million loan. Without its major source of funding, the project lost steam and was discontinued.
Krapska Reka small hydropower plant, Macedonia
Loopholes in the EBRD’s due diligence, together with a lack of assessment and monitoring by Macedonia’s local and central government, has proven to be a lethal combination for the country’s rivers. A prime example is the Krapska Reka small hydropower project. The authorities’ failure to recognise the location as part of the proposed Jakupica National Park, Emerald area and a future Natura 2000 site, on top of poor mitigation measures and construction practices, have caused irreversible damage to this small river valley.
Latest news
Central Asia: environmental groups and scientists call on international financial institutions to preserve key freshwater bodies and stop supporting destructive hydropower projects
Press release | 14 March, 2025The future of Central Asia’s key rivers and lakes is at risk, warn international environmental groups Rivers without Boundaries, International Rivers, Friends of the Earth US, Urgewald and CEE Bankwatch Network in a formal request sent today to the World Bank, European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Asian Development Bank (ADB), Eurasian Development Bank (EDB), Islamic Development Bank (ISDB) and Asian Infrastructure Investment Bank (AIIB).
Read moreGreening the EU budget: why climate mainstreaming needs reform
Bankwatch in the media | 26 February, 2025CEE Bankwatch Network (2024) analysed the practical implementation of the DNSH principle in the RRF using six case studies. In some cases, the simplified procedure relied solely on uncritically accepting the countries’ declarations.
Read moreWhy China is Building a New Road to Russia
Bankwatch in the media | 26 February, 2025“The Khada Valley is a very small valley. It’s located very close to the capital [Tbilisi] and it’s unique in terms of its cultural heritage,” said Manana Kochladze, the human rights and democratisation lead at Bankwatch.
Read moreRelated publications
Kungrad 1-3 wind power project, Uzbekistan
Policy comments | 11 March, 2025 | Download PDFThese detailed comments refer to the draft environmental and social impact assessment report for a 1.5 GW wind project Kungrad 1, 2 and 3 in Uzbekistan. The comments were submitted to the Asian Development Bank in March 2024. This project is one of sev
How to interact with development banks lending to hydropower projects in Central Asia: A toolkit for civil society activists
Toolkit | 3 February, 2025 | Download PDFThis toolkit is aimed primarily at civil society organisations in Central Asia tackling the construction of dams or other unsustainable water infrastructure.
Needs and priorities for biodiversity funding: A comparative analysis of Hungary and Poland
Briefing | 20 December, 2024 | Download PDFThis publication provides an overview of the priorities for national biodiversity needs in two countries – Hungary and Poland.
