The 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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Tragedy or comedy, what is the Nabucco pipeline really?
Blog entry | 19 January, 2012The announcement of German energy giant RWE to reconsider its plans for the Nabucco pipeline is just the last in a series of confusingly conflicting signals regarding the fate of this gargantuan project.
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Deja vu for Vienna II – a sustainable recovery is needed for the CEE financial sector
Blog entry | 16 January, 2012As pressures mount on western European banks to shore up capital ratios and with 2012 economic growth forecasts for Europe falling close to zero, officials from the European Central Bank, the European Commission, and several international financial institutions (IFIs) are meeting today in Vienna with regulators from CEE countries to discuss a second round of financial support for a fragile CEE banking sector.
Read moreEIB response to Bankwatch study ‘Carbon rising: European Investment Bank energy lending 2007-2010’
Publication | 16 January, 2012The European Investment Bank responded to the study Carbon Rising: European Investment Bank energy lending 2007-2010 in which Bankwatch analysed the energy lending by the EIB since the institution launched its energy policy in 2007. Bankwatch’s rejoinder to the EIB’s letter can also be downloaded as pdf.
Read moreComplaint to EBRD’s Public Complaint Mechanism: Rivne-Kyiv High Voltage Line project
Publication | 10 January, 2012The loan agreement between Ukraine and the European Bank for Reconstruction and Development for the Rivne-Kyiv High Voltage Line project (connected to the controversial “Second Backbone Corridor”) included significant parts of the project that were not assessed in the obligatory environmental and social impact assessment (ESIA) prior to project approval.
Read moreComplaint regarding Sostanj TES6: CCS, public procurement, economic vialbility
Publication | 9 January, 2012The complaint, filed with the European Investment Bank by Environmental Law Service (CZ) and Focus Association for Sustainable Development (SI), outlines controversies in relation to the Sostanj lignite thermal power plant with regards to the following aspects: insubstantial allegation that the project is „carbon capture ready“ and that the assessment submitted by the operator fulfils the criteria set up by the relevant EU Directive, failure to comply with the relevant EU directive for public procurements, questionable economic viability of the project.
Read moreVideo: An EIB holiday
Blog entry | 3 January, 2012Baffled by an EIB loan to a holiday resort in Morocco, our friends from Counter Balance – Challenging the European Investment Bank had a closer look at the kind of development promoted there and came back with this wonderfully illustrative video.
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The new EIB transport policy: not yet ready for sustainability
Blog entry | 12 December, 2011On December 13, the EIB’s Board of Directors is about to approve the institution’s new Transport Policy. This new document constitutes an upgrade of the older 2007 Transport Policy of the bank which tries to incorporate the EU’s progressive agenda on the prevention of climate change (documents such as the “Europe 2020 Strategy” and the “Roadmap for moving to a competitive low-carbon economy in 2050”).
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