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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
European Commission’s assessment of Romania’s final national energy and climate plan
Blog entry | 29 October, 2020Two weeks ago, the European Commission published its first report on the State of the Energy Union after the adoption of the European Green Deal.
Read moreConcern over Czechia’s alleged plans for EU transition funds
Bankwatch in the media | 22 October, 2020Prague’s share of a multi-billion euro ‘just transition fund’ (JTF) to mitigate social upheaval as coal-dependent regions move to cleaner forms of energy could end up in the hands of business magnates and energy firms, CEE Bankwatch Network has warned following Czech media reports.
Read moreLeaked document: Czechia plans to spend EU just transition money on gas and subsidising corporations
Press release | 22 October, 2020The Czech government is planning to use money from the Just Transition Fund (JTF) to finance the transition of coal units to gas and subsidise large energy companies owned by the state or Czech billionaires, according to a 40-page document authored by the Czech Ministry of Regional Development and the Ministry of Environment, which was just leaked to Czech media.
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.
