Letter to EBRD: Don’t support gold exploration in UNESCO site in Russia
Publication | 5 October, 2011In August 2011, the European Bank for Reconstruction and Development (EBRD) announced that it was acquiring a stake in GV Gold, one of Russia’s top gold producers, stressing the company’s willingness to meet the Bank’s environmental and social requirements. A GV Gold subsidiary, however, carries out prospecting and plans to mine gold on a territory that is located in its entirety in a UNESCO World Natural Heritage property.
Read moreManagers of EBRD-funded Kolubara mines in Serbia arrested for embezzlement
Press release | 4 October, 2011Belgrade -16 current and former members of the management of Serbian state-owned energy company Elektroprivreda Srbija (EPS) were arrested today and yesterday across the country over allegations of embezzlement of company funds. Some of these are people that the European Bank for Reconstruction and Development (EBRD) has entrusted this summer with managing an 80 million Euros loan for the development of the Kolubara lignite fields near Belgrade.
Read moreThe EBRD and coal. Dirty business unnoticed.
Publication | 3 October, 2011Despite numerous international calls for the discontinuation of public support for fossil fuels in the face of climate change, the EBRD continues to finance the dirtiest among them, coal. What is more, the bank plans to expand its activities in this field. CEE Bankwatch Network urges the EBRD to phase out any support for coal industry making it more competitive and disadvantaging sustainable energy.
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Potocnik says green economy, European public banks say black coal
Blog entry | 3 October, 2011The European Union’s internal and external ambitions for green economies are being countered by the activities of European international financial institutions. EU Commissioner for the Environment Potocnik can see that also in his home country Slovenia.
Read moreComplaint to European Commission: Inadequate assessment of CCS readiness for Sostanj lignite power plant project
Publication | 3 October, 2011Download the complaint as pdf
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Bankwatch Mail 49
Publication | 21 September, 2011This edition focuses mostly on the European Investment Bank and EU funds related issues. Among the questions we discuss are: How is the EU budget, this 1 trillion euro process, shaping up, and will sustainability finally have a bigger role? and Will EIB investments in the Southern Mediterranean bring benefits to the people there or to Western companies?
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Greenwashing nuclear expansion in Ukraine, with EU support
Blog entry | 13 September, 2011Upgrades of hydro power plants in Ukraine are a prime example for greenwashing nuclear expansion with renewable energy. Alena Miskun from Bankwatch member group National Environmental Centre of Ukraine gives details on the thickening plot that European public banks are involved in.
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In times of crisis – Poland’s take on the Emperor’s New Clothes
Blog entry | 9 September, 2011Poland has made a worrying proposal on public private partnerships that could risk the future stability of European economies by turning a blind eye to future public debt. But the EU would do well to take the British example as an eye opener.
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Contemplating secure and insecure energy supply
Blog entry | 7 September, 2011The EU external energy policy Communication published today by the European Commission continues the decade-long approach of the EU to ensure the unhindered flow of fossil fuel energy supplies to Europe without a real recognition of the problems this drive creates both inside and outside of the EU.
Read moreReport from a fact finding mission to ArcelorMittal Temirtau
Publication | 15 August, 2011ArcelorMittal received a loan from the European Bank for Reconstruction and Development (EBRD) for health and safety improvements in its Kazakh coal mines. While fatal accidents at the mines continue, the company has so far not provided sufficient information to allow the project’s assessment. We visited Temirtau to talk with miners directly about the company’s health and safety performance. Video testimonies can also be seen on our website.
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