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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
Estfeed Datahub: Powering Estonia’s digital energy future
Blog entry | 10 July, 2025As our energy systems shift towards decentralisation and renewable energy sources, it’s becoming increasingly important for energy markets to be open, understandable, and accessible to everyone, including large companies, local communities, and individuals. Transparency and easy access to energy data play a key role in this transition. In Estonia, the Estonian Green Movement is working to raise public awareness and capacity around this topic.
Read moreThe threat to the EU’s LIFE programme in the next budget
Bankwatch in the media | 26 June, 2025The EU’s new priorities are at a major crossroads. The once cutting-edge European Green Deal is now ditched in favour of defence, security and competitiveness. These discussions are taking place against the backdrop of the much-anticipated future EU budget, the financial resource responsible for driving forward the EU’s goals.
Read moreElectrification of Riga’s heat supply brings balance to national grid
Blog entry | 24 June, 2025Riga’s main heat supplier, RĪGAS SILTUMS, is taking steps to transform the city’s heat supply. Having recently implemented a major electrification project, the company is now exploring options to introduce a pioneering heat storage solution for the Latvian capital.
Read moreRelated publications
The Energy Sector Strategy 2024-2028 Must Mark the End of the EBRD’s Support to Fossil Fuels
Statement | 23 October, 2023 | Download PDFAs the European Bank for Reconstruction and Development (EBRD) is drafting its 2024-2028 Energy Sector Strategy, Bankwatch and 130 civil society groups from more than 40 countries released a joint statement urging the Bank to recommit to tackling the climate crisis.
Repower communities – not fossil fuels. Analysis of the revised national recovery and resilience plans of 15 Member States
Briefing | 11 October, 2023 | Download PDFThe aim of this briefing is to provide an overview of all the revised and submitted national recovery and resilience plans, which include additional reforms and investments.
Guidelines for selecting just transition projects
Guidelines | 10 October, 2023 | Download PDFThis guide is intended to help local decision-makers select projects aimed at achieving a sustainable energy transition in a diverse, objective and fair manner. It is hoped that it will raise the level of ambition for sustainable solutions in the regions and enable funds to be spent in a way that is consistent with the just transition goals.
