Updates on the European Investment Bank

EU urged to honour Paris Agreement, withdraw support for gas mega-pipeline

In an open letter released today, climate scientists, indigenous leaders, environmental and social justice groups, actors and artists call on the European Union to immediately withdraw its support for a gas mega-pipeline that would ‘destroy Europe’s climate targets’.

How Europe’s bank spends cash for climate undermines Paris commitments

An uneven investment strategy across the EU’s 28 Member States and a lack of added value by one of its main financial tools means that the EIB puts the EU at risk of not meeting its climate targets under the Paris Agreement, according to a new briefing from Counter Balance and CEE Bankwatch Network.

The winners and losers of climate action at the European Investment Bank

This analysis of the bank’s climate action is based on the climate action database disclosed by the EIB. The database includes projects which were signed in 2016 and classified in line with the methodology approved by the bank in its Climate Strategy.

Investment Plan for Europe more climate friendly, but European Parliament shows little ambition

Today in Strasburg, the European Parliament lead committees have brought the European Fund for Strategic Investments (EFSI) closer to compliance with the Paris Climate Agreement. However, they have once again fallen short of eliminating fossil fuel subsidies, which stand in the way of climate action.

Italian authorities overrun communities in a bid to enable Europe’s dash for gas

In a last minute attempt to force facts on the ground, the Italian authorities have enabled the removal of a group of olive trees to make room for a future construction site of the Trans-Adriatic Pipeline (TAP), despite an earlier agreement between the company and local institutions. Nevertheless, the company has not been able to clear the site by the official deadline and the residents have vowed to step up their protest against the largest energy project the EU is currently pursuing.

National and local levels play secondary role in Green Climate Fund, European Investment Bank project illustrates

The use of international financial institutions to manage projects within the Green Climate Fund framework has been criticised as too far removed from communities and those affected by the investments. Recently approved projects, the biggest of them administered by the European Investment Bank confirm this view, despite willingness to include civil society.

Why no Trans-Adriatic Pipeline (NO TAP), here or elsewhere

This article first appeared on the Re:Common website. It was the end of February and the scene is Baku, the capital of Azerbaijan. During an official meeting, the Italian government was severely criticised for the considerable delays in the constructio

River defenders gather forces in Georgia

This week, activists from across the world are meeting in Tbilisi to share their experiences of resisting hydropower projects and the money that supports them.

Italian communities block pipeline works to save ancient olive trees

An ancient olive grove in southern Italy is currently on the frontlines of grassroots resistance to the Southern Gas Corridor project, the EU’s flagship energy project.

Joint letter to development banks financing the Mombasa-Mariakani road project in Kenya