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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
Slovakia’s billion-euro opportunity: Redirecting climate revenues and fossil-fuel subsidies to tackle energy poverty
Blog entry | 20 May, 2026The rising prices of oil, gas, fertilisers and other commodities pose significant challenges to central and eastern European economies dependent on fossil fuels.
Read morePower to the people: How distribution grid improvements can speed up energy transformation in the Western Balkans
Blog entry | 23 April, 2026The key to long-term sustainability of the energy transition is a decentralised electricity generation system where everyone can be an active participant and share the benefits. For this to happen, the distribution grids that connect end consumers to the system need to be bidirectional, stable, modern and smart.
Read moreCommunity energy gathers momentum in Estonia
Blog entry | 15 April, 2026Community energy has emerged as a quiet undercurrent in Estonia, but has yet to firmly establish itself in the broader energy debate. Still, a number of pioneering communities across the country have already taken control of their energy production and consumption. Aiming to replace fossil fuels with cleaner and more affordable alternatives, they have adopted practical solutions that combine local needs, renewable energy and cooperative collaboration.
Read moreRelated publications
The EU Recovery Funds: time to start properly investing in biodiversity and nature conservation
Briefing | 18 March, 2021 | Download PDFThe state of nature is in crisis. A recent European Environmental Agency (EEA) report reveals that 81 per cent of habitats in Europe are in ‘poor condition’, and without swift action this dire situation will only become worse. We need systemic and wide
Status of the Territorial Just Transition Plans in central and eastern Europe (3 March Update)
Briefing | 3 March, 2021 | Download PDFTerritorial Just Transition Plans (TJTPs) are a precondition for European Union Member States to access the Just Transition Fund (JTF), worth EUR 17.5 billion. The documents must outline the expected transition process; the most affected territories an
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.
