Updates on the European Investment Bank

Letter: Substantial amendments needed for EIB climate strategy

The European Investment Bank’s draft Climate Strategy, although it presents a few interesting technical opportunities, does not constitute a fully-fledged strategy: it lacks strong and measurable objectives, relevant action plans and clear implementation timelines to support those objectives. Bankwatch, urgewald, Counter Balance and WWF Europe therefore ask the EIB to make substantial amendments to the draft in the following three areas: energy efficiency, the cimate action target and the emissions performance standard.

To mobilise investments for energy efficiency, Commission needs to put money where its mouth is

Clear guidance is needed more than public assurances to make the European Fund for Strategic Investments (EFSI) be indeed a vehicle for energy efficiency. Counter to public statements, the current set-up does not promise to be effective.

Energy Union benefits are full of paradoxes in the land of Kafka

More clarity is needed regarding the Energy Union’s priorities for the Czech Republic.

Slovakian dam project is a warning sign for Juncker’s investment drive

The European Parliament will soon be voting on a Scoreboard that will help assess candidate projects to the EUR 21 billion European Fund for Strategic Investment (EFSI). Stringent economic, social and environmental criteria are a paramount need for ensuring investments that contribute to a more sustainable Europe.

CSOs key points for the forthcoming EIB climate policy

In this letter to EIB, civil society organisations point out that the EIB’s forthcoming climate policy cannot only be limited to repackaging previous climate commitments or solely focusing on technical incremental changes. In the framework of the new EU 2030 climate and energy targets and the forthcoming international climate conference in Paris, ambitious new policy commitments are indispensable to make the EIB credible.

Romanian environmental inspectorate orders closure of two coal plants operating outside EU pollution laws

Last week the Environmental Inspectorate in Hunedoara, Romania demanded the closure of two thermal power plants at Mintia and Paroşeni, because neither of the units complies with air quality requirements of the EU’s Large Combustion Plants Directive (LCPD). Hunedoara Energy Complex, which manages the Mintia and Paroşeni plants, has challenged the decision in court.

European Parliament approves Juncker Investment Plan, lacks guidance and oversight

Today the European Parliament approved the regulation establishing the European Fund for Strategic Investments (EFSI) at the heart of President Juncker’s EUR 315 billion investment plan. But critics say that the regulation lacks clear provisions for oversight of the fund and guidance for investments in green, sustainable and resource-efficient projects that are part of the fund’s mandate.

Preliminary comments on the Nenskra Environmental Impact Assessment and its consultation process

Following an on-site visit in the Upper Svaneti region in Georgia, these comments find substantial weaknesses in the Environmental Impact Assessment (EIA) for the Nenskra hydropower plant, in particular with regards to the engagement and consultation of local communities. See also the comments on the final Nenskra EIA report.

Follow-up letter: Stakeholders Workshop on public consultation results of 2nd PCI proposed lists

European Fund for Strategic Investments (EFSI): Smart, sustainable and inclusive growth – recommendations for the Delegated Act establishing a scoreboard of indicators