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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
Vulnerable households at risk: Central and eastern European countries struggle to finalise national social climate plans
Press release | 13 June, 2025With just weeks to go before the European Commission’s deadline for national social climate plan submissions, a new analysis by E3G and Bankwatch reveals alarmingly uneven progress across central and eastern Europe. Examining the state of play in eight EU Member States, the report highlights persistent transparency gaps, weak stakeholder engagement, and protracted delays.
Read moreBulgaria’s opportunity to address energy and transport poverty: The Social Climate Fund challenge
Blog entry | 4 June, 2025The European Union’s Social Climate Fund presents Bulgaria – one of the EU’s poorest Member States – with a significant opportunity to tackle energy and transport poverty. Under this funding instrument, the country has been allocated a total of EUR 2.5 billion for the 2026–2032 period. However, concerns are mounting that weak planning, institutional resistance to reform, and a lack of transparency could prevent this funding from reaching the people who need it most.
Read moreLatvia’s cohesion policy at a crossroads: Balancing security priorities and green investments
Blog entry | 14 May, 2025Latvia is rethinking how it allocates its EU cohesion policy funds, as growing security concerns linked to the regional geopolitical climate put pressure on previously agreed green investment priorities. But will this shift towards national defence undermine the country’s long-term environmental and climate goals?
Read moreRelated publications
EU biodiversity credits – barking up the wrong tree
Briefing | 7 July, 2025 | Download PDFThis briefing provides an overview of biodiversity credits, offsets and nature markets, EU plans and issues with biodiversity credits. It also presents Bankwatch’s view on priorities to mobilise financing for nature. Biodiversity credits are in danger
Climbing together: Is the Social Climate Fund working for those who need it most?
Report | 13 June, 2025 | Download PDFThis report evaluates the quality of stakeholder involvement and the design of national social climate plans in Bulgaria, Estonia, Hungary, Italy, Latvia, Poland, Romania, and Slovakia.
CEE Bankwatch Network’s consultation response on the Connecting Europe Facility – Energy funding
Policy comments | 3 June, 2025 | Download PDFThe Connecting Europe Facility (CEF) is meant to implement infrastructure projects which aim to strengthen trans-European energy, transport and digital networks.
