Is this development? Public development banks must rethink their investments and put local communities first
Blog entry | 4 September, 2023On 4 to 6 September, the world’s public development banks will gather for the Finance in Common Summit in Cartagena, Colombia. They’ll be discussing key development issues – from climate change to infrastructure – issues that affect the lives of millions of people around the world. Bankwatch is on the ground to expose the adverse impacts of investments made by development banks and advocates for meaningful community participation in decision-making on development projects.
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Civil society calls on public development banks to overhaul their approach to development
Press release | 4 September, 2023As a member of the Coalition for Human Rights in Development, Bankwatch has joined civil society organisations and human rights defenders from over 20 countries in calling for immediate and effective action from public development banks.
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European Ombudsman urges European Investment Bank to enhance transparency – once again!
Press release | 26 July, 2023The European Investment Bank (EIB), the EU’s lending arm, is facing renewed pressure to improve its transparency (1). In a recent decision, the Ombudsman highlighted the EIB’s insufficient justification for withholding access to environmental information related to a significant loan granted to Poland’s largest state-owned energy utility, PGE (2).
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Hydrogen in the EIB’s reviewed energy lending policy
Publication | 28 June, 2023As the EIB reviews its Energy Lending Policy, Bankwatch and 33 other civil society groups, sent a joint letter o EIB Vice Presidents, to voice our concern about the over-emphasis on hydrogen which risks, among others, diverting renewable energy capacity – existing and planned – from the electricity grid and into the production of hydrogen for sectors that might not be playing a significant role in the energy transition.
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Briefing for the EIB Board on the Budapest Airport expansion project
Publication | 2 May, 2023This briefing shows how this EIB-financed project continues to violate the fundamental rights of residents, which are enshrined by the Charter of Fundamental Rights of the European Union.
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Civil society seminar: Recommendations for EIB Global
Publication | 2 May, 2023This briefing summarises recommendations formulated by civil society to guide the future operations of EIB Global.
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Joint civil society letter: Creating a truly Paris-aligned EIB
Publication | 2 May, 2023The Fossil Free EIB coalition wrote a joint letter to the European Investment Bank (EIB) to express its views on the upcoming review of the EIB Climate Bank Roadmap.
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‘EU climate bank’ keeps back door open for fossil fuel giants
Blog entry | 2 May, 2023The European Investment Bank (EIB) made history with its decision to stop financing fossil fuel energy from 2022 onwards. By adopting the PATH Framework in October 2021, it seemed the EIB had finally set the conditions requiring its clients to disclose information on their corporate-level emissions, as well as decarbonisation plans. But a year later, it made a U-turn.
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EU’s house bank breached environmental standards on Serbia hydropower project
Press release | 14 April, 2023The European Investment Bank (EIB) breached its environmental standards during the approval of the Komalj small hydropower plant in Serbia, the Bank’s Complaint Mechanism has concluded, in a report published today. (1)
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EBRD investments in Ukrainian agro-giant MHP under investigation
Blog entry | 2 February, 2023After years of community complaints about the environmental and social damage caused by Ukrainian agro-giant Myronivsky Hliboprodukt (MHP), independent investigators are now looking into the role of international public finance in contributing to those harms. Considering the current food crisis, Ukraine’s important role in the global food supply chain and the prospect of more international investments to prop up Ukraine’s economy, it is time for financiers to learn the lessons of their past mistakes.
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