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.
The historic amount of EU funds now available represents a golden opportunity to increase biodiversity spending and fully realise the objectives of the biodiversity strategy.
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
Komarnica hydropower plant, Montenegro
Planned by Montenegro’s state-owned electricity utility EPCG, the need for the Komarnica hydropower plant has never been proven.
Buk Bijela dam and the Upper Drina cascade
Planned as a joint project of public utilities owned by the Republika Srpska entity of Bosnia and Herzegovina and Serbia, Buk Bijela on the upper Drina is being pushed forward in violation of local legislation and international conventions.
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.
Latest news
It’s time to put an end to EU funding of fossil gas
Press release | 27 June, 2022While EU households and industry face months without heating, exorbitant energy bills and insecurity, EU funds are driving an increase in the demand for gas in the region, a Bankwatch analysis of Modernisation Fund spending shows.
Read moreCivil Society From Across the Asian Region Urge the ADB to Stop Financing False Climate and Energy Solutions
Press release | 16 June, 2022Civil society groups from across Asia are condemning the Asian Development Bank’s Asia Clean Energy Forum 2022, hosted from June 14-17th, as failing to provide a platform for discussion about real climate and energy solutions grounded in science and the lived realities of the region’s diverse communities. To highlight critical concerns about the ADB’s proposed and current energy investments, a range of events are being organized online and in person by community groups and their allies.
Read moreEU investments: voice of the public must be heard!
Blog entry | 16 June, 2022Member States are currently making important investment decisions to address the multitude of crises we are facing. This money has the potential to transform our economy, yet the challenges to ensure it meets this potential are high. The EU’s unprecedented COVID-19 recovery package should be spent wisely and in a transparent manner. Yet it is for the moment far from open, and it is unlikely this will change any time soon.
Read moreRelated publications
Behind the ‘green recovery’: How the EU recovery fund is failing to protect nature and what can still be saved
Report | 2 June, 2022 | Download PDFThis report prepared by CEE Bankwatch Network and EuroNatur, shines a spotlight on the implementation of recovery funds, and reveals a series of harmful reforms and investments for biodiversity set to be financed in nine central and eastern European Member States (Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Poland, Romania and Slovenia).
Position paper: Kosovo’s National Energy and Climate Plan (NECP)
Position paper | 31 May, 2022 | Download PDFThis position paper aims to provide recommendations for Kosovo’s National Energy and Climate Plan, which is currently being developed, from an environmental sustainability and public inclusion standpoint.
Just transition project implementation checklist
Checklist | 29 April, 2022 | Download PDFThe paper outlines what comes next after the preparation of the Territorial Just Transition Plans and their final approval by the European Commission. It takes a look not only at the actual planning and spending of the funds provided in accordance with the approved Plans, but also at the challenges faced by the regions and the level to which they are prepared to address them. The checklist provides an easy-to-use overview of what each region should have in place in order to make sure it reaches its professed goals along with a discussion of each issue, relevant examples and references to more detailed reports, documents or regulations concerning particular points.
