Juncker 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.
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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.
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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 moreEFSI case study: Bratislava bypass: A transport public-private partnership with high costs and limited benefits
Publication | 8 June, 2016The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the financing concerns the design, construction, operation and maintenance of about 27km of a motorway around Bratislava. The project will come with high costs, will damage biodiversity and likely not solve local transport problems.
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MEP Pirinski: “The EIB should pay more attention to economic, social and territorial cohesion”
Blog entry | 7 June, 2016MEP Georgi Pirinski, rapporteur of the annual report on the European Investment Bank, shares his views on how to improve the way the bank operates.
Read moreEFSI case study: Energy efficiency in residential buildings in France: Energy Performance Contracting to boost investments
Publication | 6 June, 2016The so-called European Fund for Strategic Investments (EFSI) should unlock additional investment of at least EUR 315 billion over a three year period (2015-2017). One of the projects benefiting from the EU financing is a program that aims to promote energy efficiency in the housing stock through the funding of certain regional/local initiatives supporting energy renovation of private residential buildings in France.
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