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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
The 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 moreNavigating the complexities of EU funds: Bulgaria’s struggle
Blog entry | 13 June, 2025The mid-term review was intended as a mechanism to address implementation issues and reallocate resources to priority areas. In reality, however, it has taken a very different turn.
Read moreRelated publications
The Modernisation Fund in central and eastern Europe
Briefing | 13 December, 2022 | Download PDFThis briefing gives insights into the Modernisation Fund, a funding programme to support 10 lower-income EU Member States in their transition to climate neutrality by modernising their energy systems and improving energy efficiency.
Assessment of Latvia’s operational programme
Assessment | 7 December, 2022 | Download PDFThis briefing offers an analysis of Latvia’s draft operational programme for 2021-2027 and recommendations regarding the potential for increasing the programme’s climate and environmental contributions. This publication was updated on 15 December 2022
The Western Balkan power sector: between crisis and transition
Report | 5 December, 2022 | Download PDFAs energy transition in the Western Balkans slowly proceeds, energy crisis has hit the region on four fronts: electricity prices, technical problems at coal plants, lack of water for hydropower, and skyrocketing biomass prices. This crisis is both a se
