Too good to be true? Assessing one year of the Investment Plan for Europe
Blog entry | 28 September, 2016Europe is hemorrhaging cash in deeply unsustainable projects like motorways, airports and gas infrastructure.
Read more
Juncker investment plan: deep reforms necessary for sustainable future
Press release | 28 September, 2016Cash that should be flowing into projects that boost environmental sustainability is instead fuelling outdated carbon-intensive projects like motorways, airports, and fossil-fuel infrastructure, according to a new report on Europe’s investment plan released today
Read more
The best laid plans – Why the Investment Plan for Europe does not drive the sustainable energy transition
Publication | 28 September, 2016This report analyses projects approved by the European Fund for Strategic Investments (EFSI) in its first year of operation. The fund should catalyse €315 billion in new investment, and play an important role in the fight against climate change. However, as the analysis finds, during the EFSI’s first year an additional €1.5 billion was earmarked for fossil fuel infrastructure, and 68% of transport investment is destined for carbon-intensive projects.
Read moreJuncker Investment Plan 2 and review of EU budget offer no progress towards Europe’s long-term climate goals
Press release | 15 September, 2016What should have been two significant contributions to Europe’s war chest in the fight against climate change will in fact leave the planet short-changed and open the door to even more polluting fossil fuel projects, argue campaigners at Bankwatch, Friends of the Earth Europe and Climate Action Network Europe.
Read more
New report reveals the ‘dark side’ of EIB funds: how the EU’s bank supports non-transparent investment funds based in tax havens
Press release | 14 September, 2016Counter Balance launches today a new report that critically analyses a little-known part of the European Investment Bank (EIB)’s operations: its use of private equity funds. The report is available for download at http://www.counter-balance.org/wp-content/uploads/2016/09/The-dark-side-of-EIB-funds_report.pdf The report presents a number of statistics and facts about recent investment funds financed by the EIB during the period 2011-2015.
Read more‘We have no other option’ – Preparation of the Trans-Adriatic Pipeline in Albania
Publication | 4 August, 2016The Trans Adriatic Pipeline (TAP), the most western part of the Southern Gas Corridor, a pipeline project to bring gas from Azerbaijan to Europe is promoted by the European Commission as a strategic asset for Europe’s energy security. A July visit to over 30 Albanian villages revealed the high level of dissatisfaction and confusion for people impacted by the construction of TAP.
Read more
Ombudsman asks European Investment Bank to act on conflicts of interest issues
Blog entry | 26 July, 2016In a letter to the President of the European Investment Bank from July 22, the European Union’s Ombudsman Emily O’Reilly has asked the bank to review its governance arrangements to help prevent potential conflicts of interest in the bank’s governing bodies.
Read moreNew damage to hydropower project a bleak reminder of development bank missteps in Georgia
Blog entry | 27 June, 2016On June 23 mudflows from the Devdoraki glacier again hit the Dariali gorge and washed away a road and infrastructure connected to two hydropower projects planned in the north of Georgia. The destruction included the water intake for the 19 megawatt Larsi hydropower plant and the derivation pipes for the Dariali hydropower plant.
Read moreThe European Investment Bank and its energy sector lending 2013-2015
Publication | 14 June, 2016This analysis of the European Investment Bank’s (EIB) energy lending shows that the bank has been effectively hindering Europe’s energy transition. Most notably, during 2013-2015, EIB lending to renewables in Europe has dropped whereas its lending to fossil fuels has modestly but consistently increased. Moreover, while EU leaders have repeatedly emphasised the ‘energy efficiency first’ principle, the EIB has been lagging behind with only 3.6% of its lending across sectors going to energy conservation projects.
Read moreThe EU house bank is holding back Europe’s shift to sustainable energy
Press release | 14 June, 2016On the occasion of the EU Sustainable Energy Week, a new Bankwatch analysis shows that the European Investment Bank (EIB) has been effectively hindering Europe’s energy transition.
Read more
