Commission lays down sustainable energy pointers to EIB
Publication | 7 March, 2013The public consultation on the EIB’s review of its energy policy is well underway now, with the bank’s intention being to have the new policy in place sometime this summer. While not part of the review process as such, following an official request for information Bankwatch has received comments submitted by the Directorate-General for Environment of the European Commission to the EIB as part of ongoing exchanges between the bank and the Commission.
Read moreEBRD and EIB: Stop financing coal!
Publication | 5 March, 2013The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are public development banks, which should lend money only for environmentally sustainable projects. Yet in reality, while both banks are increasing their investments into energy efficiency and renewable energy, they are undermining this by financing coal and other fossil fuels. Since both banks are adopting new energy policies in 2013 now is the time to act.
Read moreDreams of European Investment Bank Quitting Coal Go Up in Smoke – For Now
Press release | 28 February, 2013Climate activists take responsibility for fake press release, bizarre award ceremony Brussels — The European Investment Bank (EIB) president Werner Hoyer was forced to say this morning, during the EIB’s annual press conference, that an announcement that the bank would give up lending to coal was “pure nonsense”. And this, despite the fact that Hoyer repeatedly referred to the EIB as a frontrunner in the fight against climate change.
Read moreWWF Position Paper on the EIB energy lending review
Publication | 10 February, 2013Quote from the WWF comments: “The EIB’s objective should support the EU’s 2050 decarbonisation goal. An EIB substantively revised energy lending policy should precludes investment in assets that lock‐in high carbon emissions and instead focuses on delivering a European zero‐emission energy system by 2050.”
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A mostly accommodating lion’s den – the second civil society meeting with the EIB Board of Directors
Blog entry | 8 February, 2013A meeting of civil society and the European Investment Bank’s Board of Directors saw a surprising degree of agreement between two often adverse groups.
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Small shareholders protest price cap on lignite from Šoštanj’s mine
Blog entry | 6 February, 2013With the dubious economics of the Šoštanj 6 lignite power plant depending partly on keeping the price of lignite low, small shareholders who would have to forego their profits are not thrilled at the prospect.
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Members of European Parliament call on EIB not to finance Slovene lignite power plant
Blog entry | 31 January, 2013In an unambiguous letter Members of the European Parliament have reminded the European Investment Bank of the economic and environmental risks that the Šoštanj lignite power plant project poses for Europe and Slovenia.
Read moreMEPs call on EIB not to disburse funds to Sostanj lignite power plant
Publication | 30 January, 2013This letter from Claude Turmes (Greens), Alojz Peterle (EPP) and Kathleen van Brempt (S&D) calls upon the European Investment Bank’s President Werner Hoyer to withhold the disbursement of EIB funds for the Šoštanj lignite power plant project in Slovenia due to ongoing corruption investigations and the project’s questionable economic viability.
Read moreEIB Capital Increase May Not Further EU Goals
Press release | 14 January, 2013Brussels — Last week’s ten billion euros capital increase for the European Investment Bank (EIB), allowing the bank to lend 60 billion euros extra over the next three years, must come with clear commitments from the bank to stop loans for dirty energy, say NGOs.
Read moreThe EIB’s energy lending in the spotlight
Publication | 14 January, 2013The European Investment Bank has opened a review of its energy policy and called for the public’s views on the key future challenges for the bank’s operations. The lending figures to the energy sector until 2011 show that the policy must better guide the EIB’s lending towards EU policy objectives of de-carbonisation of the energy sector.
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