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.
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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
Romanian decision-makers attempt misuse of REPowerEU funds for illegal hydropower plants
Press release | 30 November, 2022Romania’s Government plans to use funds allocated under the REPowerEU package to build nine hydropower projects in protected natural areas, Bankwatch Romania has warned the European Commission today.
Read morePaved with good intentions: text of EU emergency regulation on renewables permitting agreed
Blog entry | 25 November, 2022In their poorly thought-out regulation on renewables permitting, the Commission and Council are abusing EU emergency powers to trash key environmental safeguards and unleash legal chaos.
Read moreRenewables to needlessly endanger EU protected natural areas: Reaction to today’s European Parliament committee vote on the Renewable Energy Directive
Press release | 14 November, 2022The European Parliament ITRE committee, responsible for energy issues, today approved the Commission’s proposal for a revised Renewable Energy Directive, undermining existing environmental legislation to allow damaging projects in the EU’s protected natural areas.
Read moreRelated publications
Breaking down the ‘do no significant harm’ principle
Briefing | 7 April, 2022 | Download PDFThis briefing aims to explain the ‘do no significant harm’ principle and how it has been used in the Recovery and Resilience Facility. It also raises concerns over the long-term risks and implications of applying the ‘do no significant harm’ principle
Flagships or red flags? Risks of proposed flagship infrastructure projects under the Economic and Investment Plan for the Western Balkans
Briefing | 24 March, 2022 | Download PDFUnder the European Commission’s October 2020 Economic and Investment Plan for the Western Balkans, the Instrument for Pre-Accession (IPA) is set to provide grants worth EUR 9 billion, with up to EUR 20 billion more in investments leveraged through the Western Balkans Guarantee Facility. Western Balkan governments have proposed projects for financing in ten Flagship areas for investment. The list of these proposed projects contains many which appear reasonable and much-needed, but many others are not in line with EU policy and/or legislation and must not be funded with EU money. This briefing provides an overview of selected projects that have been nominated by governments but which are not in line with EU policy and/or legislation.
Status of the Territorial Just Transition Plans in central and eastern Europe: December 2021 update – Annex: Slovakia.
Briefing | 10 March, 2022 | Download PDFThis annex to the December 2021 update on the status of the Territorial Just Transition Plans in central and eastern Europe provides additional data for Slovakia.
