Bankwatch input for the review of the European Investment Bank’s energy lending policy
Publication | 30 December, 2012In Autumn 2012, the European Investment Bank has launched a process of reviewing its energy lending policy in order to align it better with EU climate goals. Bankwatch’s comments lay out the case for fossil fuels to ‘fall out’ of the EIB’s future energy lending policy – and for an overall more ambitious, and substantially more climate-sensitive EIB energy policy.
Read moreCounter Balance contribution to the EIB’s energy sector lending policy consultation
Publication | 28 December, 2012Counter Balance is a coalition of European environmental and development organisations that looks into the European Investment Bank’s financing with a focus on non-EU activities. The submission therefore emphasises this area, yet also comments on the questions of coal, carbon markets and nuclear lending, given the global effects of these energy sources.
Read moreUrgewalt/Klimaallianz (DE) Comments on EIB energy policy
Publication | 28 December, 2012In their comments on the upcoming new EIB energy policy the German NGO urgewald and the environmental coalition Klimaallianz focus on issue of coal lending and call for no more public money support for coal fired power plants, neither new plants nor retrofitting.
Read moreEnergy Cities submission for the EIB energy policy review
Publication | 26 December, 2012Energy Cities is the European Association of local authorities inventing their energy future. Their submission to the future EIB energy sector lending policy calls for an acceleration of the transition towards low energy cities with a high quality of life for all.
Read moreNo excuses for the EIB to finance Sostanj
Press release | 21 December, 2012Ljubljana — The Slovenian parliament has ratified today – in an extraordinary session, right before the start of the Christmas holidays – the state guarantee contract between the European Investment Bank and the Slovenian government for a 440 million euros loan for the construction of a new coal unit at Sostanj.
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EIB energy policy review – Time to lock out climate destructive investments for good
Publication | 14 December, 2012The European Investment Bank (EIB), the EU’s bank and also the biggest public financial institution in the world by lending volume, has launched a public consultation on its energy policy and is seeking views from the public and other stakeholders that should feed into a review of one of the EIB’s most crucial lending sectors. The new policy is expected to take effect from June 2013.
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Asleep at the wheel – Ford cuts jobs in Europe, the EU’s bank delivers for Ford in Turkey
Publication | 14 December, 2012The European Investment Bank (EIB) has come under fire in recent weeks thanks to a loan granted to Ford Europe. The EU’s bank signed off on a EUR 200 million loan to the car giant for the company’s relocation of production to Turkey not long after Ford Europe announced the shutdown of its production sites in Genk, Belgium, and Southampton in England.
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Never a dull moment in Slovene power plant soap opera
Publication | 14 December, 2012On November 30, the same day as the national government was under fire in the most heated protests Slovenia has seen in years, Slovenia’s ministers of finance and infrastructure added fuel to the flames by signing contracts with Simon Tot, director of the Sostanj lignite power plant for the controversial EUR 1.3 billion Sostanj Unit 6. These contracts prepare the ground for the signing of a state guarantee contract for a EUR 440 million loan from the European Investment Bank (EIB) for the project.
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Unsustainable energy future for EU neighbourhood region challenged
Publication | 14 December, 2012Europe’s neighbouring countries, from the Western Balkans to Ukraine, are intent on pursuing unsustainable energy futures that rely heavily on coal and nuclear. The draft energy strategy of the European Energy Community, recently open for public comments, is no big departure from the national plans, as Bankwatch found out when compiling comments to the draft – and, moreover, this reliance on coal and nuclear energy could end up receiving EU support and financing.
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Connecting Europe Facility – connecting who, and what, exactly?
Publication | 14 December, 2012The economic crisis has accelerated the development of new financial instruments for the next EU budget period in 2014-2020. The main intention behind these instruments is to deliver substantial levels of new investment money from increasingly limited public resources in order to plot a path towards Europe’s economic recovery.
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