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How Europe’s bank spends cash for climate undermines Paris commitments

The EU’s 28 finance ministers will be meeting tomorrow (May 23) to discuss the priorities of the European Investment Bank (EIB) for the coming year. A new analysis finds the bank’s contribution to Europe’s response to the climate crisis has been worryingly insufficient and needs to be stepped up.

EU watchdog investigating European Investment Bank for maladministration

The European Investment Bank (EIB) is being investigated for maladministration, after the European Ombudsman sent a formal letter opening the case this week (27 February 2017).

The EU house bank is holding back Europe's shift to sustainable energy

On the occasion of the EU Sustainable Energy Week, a new Bankwatch analysis shows that the European Investment Bank (EIB) has been effectively hindering Europe's energy transition.

The European Investment Bank and climate action 2013-2015

The European Investment Bank’s lending for climate action between 2013 and 2015 shows that further structural changes are needed to align the bank’s portfolio with the objectives of the Paris agreement.

Do not fund Southern Gas Corridor with EU money

The flashbulbs at Azerbaijan’s official photo opportunities should not blind Europe’s leaders to the country’s accelerated descent into authoritarianism, writes Xavier Sol.

NGO open letter to EIB president: don't finance the Southern Gas Corridor

In this letter, a group of 27 non-governmental organisations urge the President of the European Investment Bank not to finance the Southern Gas Corridor, a 3500 kilometres-long chain of gas pipelines from Azerbaijan to Europe. As the EIB considers granting the biggest loan of its history to the Consortium in charge of developing the western section of the project, the Trans-Adriatic Pipeline (TAP), the group of NGOs warns about its most controversial aspects.

Up in smoke: the billions for Europe's auto industry from the EU's house bank

In the wake of last month’s Volkswagen (VW) emissions scandal, a Politico story, based on a Bankwatch analysis, revealed that the car manufacturer enjoyed generous public financial support from the European Investment Bank (EIB). But the full picture is even more disturbing.

The EU's bank turns its back on Europe's long term climate goals

It appears that before approving the European Investment Bank's new climate strategy, the bank's Board of Directors has removed a reference to the European Union's long-term decarbonisation objectives as a guidance for the EIB's climate action.

Bankwatch and Counter Balance statement on the adoption of the European Investment Bank Climate Strategy

"As Europe prepares to host the seminal UN climate summit in Paris at year's end, the EU's house bank is turning away from its commitment to finance the bloc's climate action.

EIB board approves climate lending strategy, greens say it's full of holes

Source: Ben Garside, Carbon Pulse

The board of the European Investment Bank (EIB) on Tuesday approved a new climate lending strategy, which held the climate-focused portion of the bank’s total lending at 25% but aims to take climate considerations into account in all disbursements and focus on projects with more impact.

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