EIB’s clean energy credentials continue to be compromised, policy review offers clean break from fossil fuels
Publication | 13 March, 2012‘Carbon Rising’, a new study from Bankwatch, catalogues the EIB’s energy lending for the period 2007-2010 during which time the bank loaned EUR 40 billion to energy projects across the EU and EUR 8 billion outside the EU. This lending was guided by the EIB’s first energy policy ‘Clean Energy for Europe: A Reinforced EIB Contribution’, adopted by the bank in 2007.
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State Commission warns of corruption and illegality at Šoštanj
Publication | 13 March, 2012Fresh controversy hit the proposed 600 MW lignite power plant at Šoštanj in Slovenia in late February when the Slovenian State Commission for the Prevention of Corruption issued a report in which it says corruption conditions existed at the time of the awarding of the construction contract to French company Alstom and continue to exist today. The Commission report also states that Slovenian lobbying legislation has been breached by the goings-on at Šoštanj.
Read moreLetters to EBRD and EIB: Irregularities in the Sostanj project in Slovenia
Publication | 13 March, 2012With this letter, Bankwatch, together with Focus, Association for Sustainable Development and Greenpeace Slovenia are informing the EIB’s and EBRD’s highest decision-making bodies about recent developments in the case of the Sostanj lignite power plant that in our view should prompt the banks to drop their participation in this investment. The EBRD’s president Thomas Mirow replied on April 16, 2012 (download his response (pdf)) informing us about the suspension of the EBRD’s loan for the Sostanj project. Just one day later, another letter from the EBRD (download as pdf) informed us that the suspension is not a formal suspension.
Read moreWelcoming letter to the new EIB president
Publication | 12 March, 2012The Counter Balance EIB coalition has welcomed Werner Hoyer, the new president of the EIB, to his new post.
Read moreCOGEN Slovakia, Cogeneration in Povazsky Chlmec
Publication | 7 March, 2012The new greenfield gas cogeneration power plant COGEN in north Slovakia is planned to produce power and heat. Located in Považský Chlmec, a town in the Žilina district, the new plant would further deteriorate the quality of life of locals, who have for decades been suffering from the negative impacts of a nearby waste disposal site and nearby highway.
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Energy Security for whom? For what?
Blog entry | 28 February, 2012A new report by The Corner House critically examines the notion of “energy security,” one of the buzzwords in European politics used to justify controversial infrastructure projects like the Nabucco gas pipeline or high voltage transmission lines in Ukraine. Here an introduction to the report from its authors.
Read moreHigh risk of corruption in Sostanj TES 6: Report by Slovenian Commission for the Prevention of Corruption (unofficial translation)
Publication | 23 February, 2012For many years TES 6 has been surrounded by rumours of corruption. In February 2012 the Slovene State Commission for the Prevention of Corruption published a report stating that acts of corruption could have influenced the awarding of the contract to French company ALSTOM and that the law on the state guarantee itself was initially drafted by employees of HSE, the owner of the Sostanj power complex. Slovene NGO Focus Association for Sustainable Development has translated the report to English. (The original report (in Slovenian language) is available for download here (pdf).)
Read moreThe dirty French-Slovenian connection
Press release | 23 February, 2012Slovenian state anti-corruption body claims ALSTOM could have benefited from corrupt acts to get deal to build new lignite plant at Sostanj.
Read moreEnergy Security For Whom? For What?
Publication | 16 February, 2012How can fossil fuels and uranium be kept in the ground and agrofuels off the land in ways that do not inflict suffering upon millions? Mainstream policy responses to these issues are largely framed in terms of “energy security”. Yet far from making energy supplies more secure, such policies are triggering a cascade of new insecurities for millions of people.
Read moreOpen letter to Swedish Minister of Finance: Phase out fossil fuels lending by EIB
Publication | 15 February, 2012A broad selection of Swedish NGO’s have joined Bankwatch’s call to phase out fossil fuels lending by the European Investment Bank (EIB). The open letter, sent to the Swedish Minister of Finance, Anders Borg, reminds the Swedish government that as one of the EIB’s shareholders, the country bears responsibility for how EIB resources are not sufficiently contributing to sustainable development.
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