In 1997, the European Union (EU) began to prioritise climate change as a core environmental issue, building on the publication of the EU’s Green Paper the previous year, which introduced concepts for a future energy policy. 

In January, an internal meeting was held in the Hungarian city of Göd. The primary focus of the meeting was to launch a campaign against the completion of the K2 –R4 project in Ukraine.  

As the organisation grew, questions about the role of the network inevitably became a central theme. A key discussion revolved around whether Bankwatch should operate as a service-oriented organisation or as one focused on direct action. This question was largely answered through hands-on experience, as our network evolved into a multifunctional organisation providing services, information, and training to other groups, while also spearheading its own campaigns. 

In May, during the EBRD Annual Meeting in London, Bankwatch’s top priority was to raise concerns about the K2–R4 project. Later in June, at another internal meeting held in the Polish town of Ustroń, the debate continued over the role Bankwatch should play – should the focus be more on campaigning or on policy-making? 

By the end of year, the decision was made to organise a series of roundtable discussions at the national level, focusing on the EIB. The first of these events took place in Brussels, with the participation of policymakers, non-governmental organisations, the press, and academics. These roundtables proved to be a valuable tool in raising awareness of EIB policies, with many more held in other countries over the following years.  

The year also marked a major landmark for the network with the publication of our first report – ‘Blueprints for sustainable transportation in central and eastern Europe’.  

To round off the year, the Kyoto Protocol was adopted in December, with the EU taking a leading role in advocating for legally binding emissions targets.