Kyrgyzstan: Independent expertise exposes damage done by Kumtor gold exploitation
Press release | 31 January, 2012Bishkek — Canadian company Centerra Gold, owner and operator of Kumtor Mine, the largest gold mine in Central Asia managed by a Western company, has been contaminating local waters and glaciers while hiding evidence of such negative impacts from public oversight, reveals a report authored by an independent US-based expert published today by CEE Bankwatch Network (1). Had it operated in its home country Canada, Centerra’s practices would have caused the company serious trouble with the law.
Read moreBankwatch report and video: Mongolia’s mining bonanza poses threat to locals and planet
Press release | 30 January, 2012A new report launched today by CEE Bankwatch Network, urgewald and OT Watch (1), following on-the-ground research in Mongolia, details the impact of the country’s mining boom on local populations, shedding light on the ignored side of one of the biggest business stories of today: Mongolia’s planned public offering of the state-owned Erdenes Tavan Tolgoi and the rights to one of the world’s largest untapped coal reserves. (2)
Read moreVideo: Spirited away – Mongolia’s mining boom and the people that development left behind
Blog entry | 27 January, 2012Earlier this week we published an overview of two Central Asian mining projects financed by the European Bank for Reconstruction and Development – the Kumtor gold mine in Kyrgyzstan and the Ukhaa Khudag coal mine in Mongolia’s south Gobi desert, which is part of the much larger – in fact the world’s largest – coal deposit at Tavan Tolgoi.
Read moreRushing into gold can leave people behind, EBRD
Blog entry | 25 January, 2012A look at mining projects in Kyrgyzstan and Mongolia reveal a need to carefully revise the European Bank for Reconstruction and Development’s involvement in the exploitation of natural resources.
Read moreTragedy or comedy, what is the Nabucco pipeline really?
Blog entry | 19 January, 2012The announcement of German energy giant RWE to reconsider its plans for the Nabucco pipeline is just the last in a series of confusingly conflicting signals regarding the fate of this gargantuan project.
Read moreDeja vu for Vienna II – a sustainable recovery is needed for the CEE financial sector
Blog entry | 16 January, 2012As pressures mount on western European banks to shore up capital ratios and with 2012 economic growth forecasts for Europe falling close to zero, officials from the European Central Bank, the European Commission, and several international financial institutions (IFIs) are meeting today in Vienna with regulators from CEE countries to discuss a second round of financial support for a fragile CEE banking sector.
Read morePrison netbook – Russia and the arrest of an environmental activist
Blog entry | 13 January, 2012Shortly after 80 000 people took to Moscow’s streets at the end of December to oppose the 4 December controversial parliamentary elections that resulted in United Russia retaining control of parliament, Bankwatch ally and Khimki forest defender Yaroslav Nikitenko was forced to spend ten days in jail over a fabricated administrative crime.
Read moreCroatian civil society groups ask new government to withdraw from Ombla hydro project
Press release | 16 December, 2011Croatian environmental groups today held a protest action outside of the Croatian parliament calling on the country’s new government not to go ahead with the controversial EBRD-financed EUR 150 million Ombla HPP project.
Read moreIndependent analysis questions economic viability of TES 6
Press release | 28 November, 2011Ljubljana – An independent analysis commissioned by Bankwatch and Focus published today reveals a number of unsubstantiated claims and methodological mistakes in the investment plan for the TEŠ 6 lignite plant in Slovenia. Correct calculations show that the internal rate of return is in reality lower than estimated by the project promoter, state-owned TEŠ. Had the rate of return been calculated properly, the project would not have qualified for the EIB loan of 440 million euros it is set to receive.
Read moreNGOs condemn EBRD financing of biodiversity destruction in Croatia
Press release | 23 November, 2011Zagreb — Croatian environmental organisations Zelena akcija/Friends of the Earth Croatia, the Croatian Biospeleological Society, Transparency International Hrvatska, Srđ je naš, Baobab, Eko Zeleno Sunce, Brodsko ekološko društvo-BED, Center for Environment (B&H), Eko-Zadar, WWF MedPO and regional organisation CEE Bankwatch Network have described as “extremely irresponsible” the approval yesterday by the European Bank for Reconstruction and Development of a EUR 123 million loan for the construction of the Ombla underground hydropower plant near Dubrovnik. [1]
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