Europe has ambitions to become the first climate–neutral continent. But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.
While the EU budget currently funds this transition, the key challenge is to ensure impactful, high-quality investments that are both environmentally and socially just.
Involving citizens in investment decisions leads to better outcomes, including greater acceptance, a stronger sense of ownership, and fewer harmful projects.
Bankwatch works to align EU financial flows with the European Green Deal objectives, ensuring they meet the needs of people and the planet.
IN FOCUS
Just transition
Countries across central and eastern Europe are committing to quit coal and shale oil. Now the task is to ensure that the just transition is driven from the bottom up and leaves no one behind as we move towards a sustainable energy future.
Building back biodiversity
Threats facing biodiversity are increasing alongside the drivers of the climate crisis. But investments in climate protection should not come at the expense of those that can help biodiversity. The two crises of climate and biodiversity are interconnected and both must be tackled together, because only by investing in nature can we tackle climate change.
RegENERate: Mobilising Regions for Energetic Re-development and Transformative NECPs
The overall objective of the project is to support the CEE countries’ contribution to the EU efforts towards a net-zero emissions future. The project will contribute to more ambitious and effective climate and energy policies in CEE, backed by a long-term commitment to phase out fossil fuels, improve energy efficiency and promote renewable energy.
RePower the Regions: Ambitious and inclusive clean energy plans for repowering the just transition regions
The participation and leadership of carbon-intensive regions in transitioning to clean energy solutions are prerequisites for achieving EU climate neutrality by 2050. Building on this premise, RePower the Regions aims to ensure that the regions’ clean energy plans are aligned with EU 2030 climate goals and have strong support locally, and to provide practical guidelines and roadmaps on how to repower the regions.
Latest news
EU Reform and Growth Facility not yet speeding up energy transition in Western Balkans – new report
Press release | 5 December, 2025Two years after it was announced, the European Union’s Reform and Growth Facility for the Western Balkans is struggling to deliver on its goals, according to a new analysis by CEE Bankwatch Network (1). The report reveals that a significant proportion of planned energy-related reforms are delayed and raises serious concerns about the suitability of performance-based models for the bulk of future EU funding in the region.
Read moreWhy the EU budget needs a democratic reset – a Czech civil society perspective
Blog entry | 25 July, 2025As the European Union begins shaping its post-2027 budget – the next multiannual financial framework – the challenges ahead are significant. From accelerating climate change to geopolitical tensions and conflicts, the EU needs a budget that is both responsive and forward-looking. Yet, despite the far-reaching impact these decisions will have on millions of Europeans, the process by which they are made still falls short of being truly democratic.
Read moreA budget aware of the challenges, yet falling short on solutions for a resilient future
Press release | 16 July, 2025Despite bold rhetoric on climate and environmental leadership, the European Commission’s proposal for the next long-term EU budget, published today, falls short of aligning future EU spending with the needs of a climate-neutral EU. It fails to provide a clear, enforceable vision for beneficiaries of EU funds to tackle today’s multiple challenges by directing public funds towards building a more resilient, just, and environmentally sustainable economy.
Read moreRelated publications
District heating – the role of EU investments in Latvia
Study | 10 February, 2021 | Download PDFHeating is a basic need in Latvia, where the average heating season lasts 200 days. More than half (58%) of Latvia’s primary energy consumption is used for heating. This report from Bankwatch and Green Liberty analyses the district heating projects implemented in Latvia with the support of EU funds during the last 20 years.
Pathways for Just Transitions in South East Europe
Policy comments | 14 December, 2020 | Download PDFThis policy paper is a companion piece to “Accelerated Lignite Exit in Bulgaria, Romania and Greece”, a report published in May 2020 modelling the impact of the early retirement of some coal and all lignite power plants in the electricity sector in the three countries.
Saying Adiós to Coal
Briefing | 10 December, 2020 | Download PDFThis briefing was issued by the Europe Beyond Coal campaign in December 2020. Europe Beyond Coal is an alliance of civil society groups working to catalyse the closures of coal mines and power plants, to prevent the building of any new coal projects and hasten the just transition to clean, renewable energy and energy efficiency. Our groups are devoting their time, energy and resources to this independent campaign to make Europe coal free by 2030 or sooner.
