Egypt case study: an EIB loan to the North Giza II power plant
Publication | 17 November, 2015The North Giza Power Plant II, 1500 MW natural gas-fired power plant, is one of several large gas power plants that the Egyptian government is developing since 2011 in an effort to cope with the electricity gap. The power plant uses Combined Cycle Gas Turbine technology and the project promoters claim it is energy efficient, eco-friendly and community inclusive. Both the local community and the findings from a field trip strongly dispute these claims.
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Infographic: How EU development funds fuel climate change
Publication | 17 November, 2015A Bankwatch research into the EU’s development funds for neighbouring regions finds that considerably more European taxpayer money is supporting fossil fuels than facilitating a sustainable energy transition. This infographic belongs to a report presented in November 2015 to the European Parliament. See the report’s excutive summary >>
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The energy dissonance: How EU development funds fuel climate change while leaders talk decarbonisation
Press release | 17 November, 2015EU leaders repeatedly voice commitments to spearhead the global effort to tackle climate change, primarily through long-term decarbonisation targets. But a Bankwatch research into the EU’s development funds for neighbouring regions finds that considerably more European taxpayer money is supporting fossil fuels than facilitating a sustainable energy transition.
Read moreInformation on EIB loans to Volkswagen must be made public – letter to the EIB’s board of directors
Publication | 12 November, 2015In late September, shortly after news of VW’s emissions manipulation broke, CEE Bankwatch Network contacted the European Investment Bank (EIB) with a detailed request to disclose information about its immense support to VW Group. In view of the profound public interest in the case, the highly insufficient responses we have received so far are particularly disconcerting. In this letter, Bankwatch therefore asks the EIB’s board of directors to turn to the bank’s Management Committee for the public disclosure of information related to EIB loans for the Volkswagen Group.
Read moreNGO letter to EU institutions: Take immediate action to respond to the dieselgate scandal
Publication | 9 November, 2015The dieselgate scandal is symptomatic of a ‘better regulation’ agenda in favour of cutting compliance costs and replacing the role of the public regulator with corporate co- and self-regulation. More than 35 civil society organisations have signed this letter calling for immediate and transparent investigations; EU oversight in the process of type approval for motor vehicles; strengthened enforcement of environmental legislation at EU and Member State level; the suspension of fraudulent companies from the EU lobby register until it has been demonstrated that they comply with EU law.
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Up in smoke: the billions for Europe’s auto industry from the EU’s house bank
Blog entry | 21 October, 2015In the wake of last month’s Volkswagen (VW) emissions scandal, a Politico story, based on a Bankwatch analysis, revealed that the car manufacturer enjoyed generous public financial support from the European Investment Bank (EIB). But the full picture is even more disturbing.
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The EU’s bank turns its back on Europe’s long term climate goals
Blog entry | 8 October, 2015It appears that before approving the European Investment Bank’s new climate strategy, the bank’s Board of Directors has removed a reference to the European Union’s long-term decarbonisation objectives as a guidance for the EIB’s climate action.
Read moreComments on Environmental Impact Assessment for Nenskra hydropower plant in Georgia
Publication | 30 September, 2015These comments on the Environmental Impact Assessment (EIA) report for the Nenskra hydropower plant in Georgia concludes that the quality of the submitted report is extremely poor. The report as well as the public hearings organised during its preparation do not comply with Georgian legislation or with the requirements of International Financial Institutions.
Read moreRequest for information on EIB loans to Volkswagen
Publication | 25 September, 2015Following revelations about Volkswagen cheating in emissions tests and about the European Investment Bank’s substantial support for VW – including loans for research and development of cleaner engines, Bankwatch requested information on EIB loans to the car maker. The bank provided highly insufficient responses. Read more here >>
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Financing the post-2015 agenda – the problematic role of development banks
Blog entry | 24 September, 2015The heavy involvement of international financial institutions in the post-2015 development agenda raises serious questions for civil society around the world on whether the SDGs will manage to address the root causes of inequality, poverty and environmental degradation.
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