UPDATE 7: Juncker on the investment offensive … against Europeans, the economy and the environment
Blog entry | 22 January, 2015Labelled the €1.3 trillion investment offensive, more than 2000 projects have been identified by the European Commission’s new Task Force on Investment (made up of representatives of the EC, EIB and member states) for fast-tracked financing from President Juncker’s recently announced €315 billion stimulus plan.
Read morePipe Dreams: Why the Southern Gas Corridor will not reduce EU dependency on Russia
Press release | 21 January, 2015Brussels – The Southern Gas Corridor, the EU’s new pet energy project, is not only unnecessary in light of gas demand projections, but also seems likely to fall short on the much flaunted goal of bringing energy independence from Russia, according to a new NGO study “Pipe Dreams” published today.
Read moreJuncker’s investment offensive risks turning against Europeans
Press release | 18 December, 2014Brussels – Environmental NGOs call on President Juncker, the European Commission and the European Investment Bank to consider for financing from the 315 billion growth package only projects which are sustainable and in line with EU goals and only after proper public consultation with potentially affected communities.
Read moreJuncker’s investment package to be hijacked by countries’ destructive plans
Press release | 8 December, 2014Brussels – A list of projects member states want to see financed from the Juncker investment package has been made public in expectation of tomorrow’s summit where finance ministers will discuss the package. Coal, nuclear and incinerators are among the various countries’ priorities, which fail to add up to the long-term strategic plan to stimulate growth and sustainability in Europe that Juncker promised.
Read moreEU Project Bonds are a worrying indication for the future EU long term investment plans
Blog entry | 4 December, 2014As the pilot phase of the EU Project Bonds Initiative is coming to an end, a roundtable discussion in the European Parliament takes stock of the initiative.
Read moreSostanj lignite plant: A mistake not to be repeated
Press release | 2 December, 2014Ljubljana — A new briefing by Slovenian NGO Focus shows how misguided assessments of future viability and corruption led to TES6 lignite unit costing more than double the estimated amount, bringing annual losses of tens of millions of euros, and creating only a fraction of the number of jobs promised.
Read moreJuncker investment package shifts risk from private investors to EU taxpayers
Press release | 26 November, 2014Brussels – Today European Commission president Jean-Claude Juncker will present his widely anticipated 300 billion euro investment package aimed at stimulating growth in the European economy. Central to the InvestEU programme is a 21 billion euro allocation for the newly-created Euopean Fund for Strategic Investment (EFSI) that has to leverage 315 billion euro from private investors, or 15 times the amount of the fund.
Read moreTwo great new websites on all things coal
Blog entry | 31 October, 2014As anti-coal movements are gaining momentum around the world, two new websites offer a slew of information about the dirtiest of fossil fuels and the campaigns against it. They also offer a stark reminder that despite progress in the last years coal is far from dead.
Read moreEuropean Ombudsman: EIB weakens EU efforts to strengthen rule of law
Press release | 30 October, 2014Brussels – In an unprecedented ruling this week, the European Ombudsman concluded at the end of an investigation into the EIB’s involvement with a road construction project in Bosnia and Herzegovina that the institution’s behaviour was “totally unacceptable” and it “risked putting into question the EU’s commitment for strengthening the rule of law in Bosnia and Herzegovina.”
Read moreCan the European Investment Bank move ahead of the pack on climate?
Blog entry | 21 October, 2014The European Investment Bank is gearing up for an increased role in spurring growth in Europe as set out by the new Juncker Commission. Yet as Europe’s 2030 climate targets are being undermined by some countries the bank that wants to be a leader in climate action must keep in mind that we can no longer afford growth without sustainability.
Read more