So far this year, Bankwatch has been actively challenging decisions that overlook environmental safeguards, as seen in our request for a review of the European Commission’s approval of the Western Balkans Reform Agendas’ support of fossil-gas projects.  

We have also been advocating for stronger environmental policies and funding, such as pushing for enhanced EU biodiversity funding and providing recommendations for national social climate plans to ensure a more just transition. 

As the year progresses, we will continue our crucial work in monitoring the impacts of development projects and advocating for accountability. This includes raising concerns about the environmental risks of forest biomass in the Western Balkans and large-scale agribusiness in Ukraine, as well as promoting effective grievance mechanisms at international financial institutions, particularly at the EBRD and EIB.  

Watch this space! 

https://bankwatch.org/cool_timeline/153797

In February, an EBRD compliance review vindicated local residents affected by the Corridor Vc motorway project in South Mostar, Bosnia and Herzegovina. The review acknowledged deficiencies in public consultation and environmental assessment, prompting calls for rerouting and improved stakeholder engagement.  

In April, the Federation of Bosnia and Herzegovina officially cancelled the contract for the Tuzla 7 coal power plant. Subsequently, the promoter Elektroprivreda BiH published a business plan excluding the unit, marking the end of this long-contested project.  

In May, the Supreme Administrative Court of Bulgaria definitively rejected a controversial waste incinerator project in Sofia due to unassessed health risks and lack of public consultation. The decision concluded an eight-year legal battle, underscoring the importance of public participation in environmental decision-making.  

In September, the EBRD finally cancelled its USD 214 million loan for the Nenskra hydropower project in Georgia. The decision followed findings by the IPAM that the project violated environmental and social policies.  

We continued to hold international financial institutions accountable to the communities they serve, pushing for improved safeguards. These efforts notably culminated in the approval of the EBRD’s revised Environmental and Social Policy in December. 

Throughout the year, we also advocated for energy transition plans aimed at ending reliance on fossil fuels while supporting social and economic development.  

https://bankwatch.org/cool_timeline/153796

Throughout the year, Bankwatch campaigners closely followed the implementation of REPowerEU, the EU’s plan to help Member States address the energy crisis through diversification of supply, increased renewables, and improved energy efficiency.  

We also continued to support our member and partner groups in Tbilisi, Yerevan, Belgrade, Sarajevo, Samarkand and Bishkek, while advocating for better targeted investments to strengthen the resilience of Ukrainian cities and communities in their reconstruction efforts. 

In May, the EU extended its Action Plan on Human Rights and Democracy (2020–2024) until 2027 to align with the Multiannual Financial Framework. The extension was established to reinforce the EU’s commitment to promoting human rights and democracy globally, addressing challenges such as digital rights, freedom of expression, and migration. 

In July, the EBRD’s misguided investment in the Vinča landfill project in Belgrade resulted in a problem-solving agreement being signed between 17 Roma households, the City of Belgrade, and the project promoter Beo Čista Energija. The agreement secured adequate housing for the families evicted due to the project, concluding a multi-year mediation process.  

Politically, the year was defined by the dramatic escalation in the conflict between Israel and Hamas in October. Across Europe, protests and public debate intensified over the humanitarian crisis and foreign policy responses.  

The year closed with the launch of our ‘Beyond Coal’ documentary in November. Created by 2Celsius and Bankwatch Romania, the film depicts the coal phase-out in the Romanian county of Gorj, particularly the challenges communities face as they transition to a greener economy. 

https://bankwatch.org/cool_timeline/153795

In January, the EIB suspended the disbursement of a EUR 200 million loan intended to dramatically increase passenger turnover at Budapest’s Ferenc Liszt international airport. The decision was influenced by concerns we had raised over environmental impacts and alignment with EU climate objectives. 

In February, Russia launched its full-scale invasion of Ukraine, marking a major turning point for Europe. The conflict brought devastation to Ukraine and reshaped energy policies, defence strategies, and international alliances across the continent. In response, Bankwatch rapidly organised alongside its Ukrainian member groups to address the emerging challenges. 

In response to the war, the European Commission unveiled the REPowerEU plan in May with the aim of reducing dependence on Russian fossil fuels by boosting renewable energy and energy efficiency efforts. Bankwatch heavily engaged with this initiative, advocating for sustainable and equitable energy transitions. 

In November, the third edition of our Lung Run took place in Ugljevik, Bosnia and Herzegovina, gathering 50 participants from eight countries. After two years of virtual races due to COVID-19 restrictions, the return of our live event placed the just transition high on the local agenda in order to raise awareness about the effects of pollution across the region. 

In Latvia, plans for a liquefied natural gas terminal were cancelled – a decision reflecting shifting energy strategies in the region and influenced by the broader European push to reduce reliance on fossil fuels and enhance energy security. 

https://bankwatch.org/cool_timeline/153793

In March, over 200 employees of Indorama Agro in Uzbekistan’s Syrdarya region established People’s Unity, the country’s first independent trade union. Bankwatch supported this landmark initiative, advocating for workers’ rights and freedom of association.  

In July, the European Commission unveiled the Fit for 55 package, aiming to reduce greenhouse-gas emissions by 55 per cent by 2030. Bankwatch engaged with the legislative initiative, promoting stronger climate action and just transition measures.  

In September, Bankwatch and the Centre for Research on Energy and Clean Air released the third edition of the ‘Comply or Close’ report. It estimated that air pollution from coal-fired power plants in the Western Balkans caused approximately 19,000 premature deaths between 2018 and 2020, resulting in health-related costs of EUR 6 to 12 billion annually.  

In November, the Energy Community Ministerial Council confirmed that the public loan guarantee for Bosnia and Herzegovina’s Tuzla 7 coal power plant constituted illegal state aid under the Energy Community Treaty. Bankwatch had long advocated against the project due to environmental and legal concerns.  

Throughout the year, Bankwatch’s ‘No Time to Celebrate’ campaign marked the EBRD’s 30th anniversary by highlighting the institution’s human rights shortcomings. The campaign contributed to progress on the EBRD’s policies regarding reprisals and human rights due diligence, setting the stage for the 2024 safeguards revision.  

Our advocacy and research also influenced several countries to revise their biodiversity plans, ensuring better alignment with EU environmental standards and the EU’s Biodiversity Strategy.  

Bankwatch also supported displaced families affected by an EBRD-backed landfill project in the Belgrade settlement of Vinča. The EBRD’s IPAM registered a complaint from the families, leading to negotiations aimed at securing their rights and livelihoods. 

https://bankwatch.org/cool_timeline/153790

The outbreak of the COVID-19 pandemic radically reshaped daily life across Europe, prompting Bankwatch to adapt its advocacy to new challenges.  

As chair of the Green 10 network, Bankwatch urged the European Commission to ensure that national recovery and resilience plans aligned with the European Green Deal. It also pioneered the first civil society assessment of these plans, highlighting poor public engagement and risks to climate objectives.  

In July, the EBRD launched its Independent Project Accountability Mechanism (IPAM), replacing its previous Project Complaint Mechanism. The new mechanism was updated to include a new structure and direct reporting lines to the Board, enhancing its functional independence.  

In October, owing to the ongoing pandemic, Bankwatch convened the first-ever virtual dialogue between civil society and the EBRD’s Board of Directors, fostering greater transparency and accountability. 

In the same month, our inaugural Lung Run was held in Bitola, North Macedonia. Due to the pandemic, the event shifted online, with participants using the Strava platform to track their runs and monitor air-pollution levels around the city’s coal-fired power plant.  

In December, the European Ombudsman opened an inquiry into the EIB’s financing of the Southern Gas Corridor, following a Bankwatch complaint alleging that the EIB underestimated the project’s climate impact. 

Throughout the year, Bankwatch’s campaign on the Nenskra hydropower project in Georgia led to compliance reviews by the EIB and the EBRD, which found both banks non-compliant with their indigenous peoples policies. As a result, both institutions improved their safeguards, requiring free, prior, and informed consent from affected communities. 

https://bankwatch.org/cool_timeline/153787