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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
Estonia’s EU recovery fund measures are promising yet potentially obstructive
Blog entry | 20 April, 2021Estonia has good intentions to use the recovery fund to become more resilient while supporting the green transition. However, these intentions are overshadowed by uncertainty and lack of scrutiny, as there is no publicly available strategic framework to bring all of the plan’s measures together, and many measures proposed could in fact undermine the European Green Deal.
Read moreCzech recovery plan a few steps away from being on the right path
Blog entry | 19 April, 2021Thanks to pressure from civil society, several harmful investments in highways and gas infrastructure were taken out of the Czech recovery plan, pushing it towards more of a green recovery. Still, an almost complete lack of allocations for biodiversity and several questionable climate measures set the plan back.
Read moreOpportunities for biodiversity and environment missed in Bulgarian recovery plan
Blog entry | 15 April, 2021Instead of reforms, the country plans to rehab an irrigation system that can potentially destroy wetlands, and without transparency and public dialogue, the plan cements business-as-usual. With a 30 April deadline for submitting national recovery plans approaching and recent parliamentary elections, the Bulgarian government is failing to propose reforms and measures for biodiversity, sustainable agriculture and low carbon economy. Instead, actions such as rehabilitating state-owned irrigation systems not only contradict national strategies but might damage valuable wetland habitats. A lack of transparency and public dialogue casts a further shadow on the process.
Read moreRelated publications
RePowering the regions: How working groups can support local decarbonisation efforts
Briefing | 18 December, 2025 | Download PDFThis briefing analyses the work of four decarbonisation working groups established in just transition regions in Latvia, Slovakia, Estonia and Hungary.
Put nature at the centre of Europe’s budget 2028–2034
Joint letter | 16 December, 2025 | Download PDFThis joint letter addressed to Members of the European Council ahead of the European Council meeting on 18–19 December, urges to put nature back at the centre of Europe’s EU budget.
Bankwatch’s position on the EU’s 2028–2034 Multiannual Financial Framework proposal
Policy position | 12 December, 2025 | Download PDFOur position paper analyses the European Commission’s proposal for the 2028–2034 Multiannual Financial Framework, highlighting how it falls short of addressing Europe’s urgent investment needs.
