Europe has ambitions to become a global leader in the fight against climate breakdown. Transforming the continent’s energy systems and shifting towards climate-friendly alternatives requires massive investments, especially in central and eastern Europe, where outdated infrastructure and a reliance on fossil fuels persists.
The good news is that the EU has the financial means to fund this transformation. The challenge is ensuring that the investments of today are geared towards addressing the climate crisis and Europe’s declining state of nature.
We know that when people have a voice in investment decisions, the results speak for themselves: more acceptance and ownership of spending and a greater chance that harmful and wasteful projects are avoided.
We work to ensure that EU financial flows address the climate crisis and do no harm to people and nature. We do this by involving the public in the design and spending of EU investments.
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.
Latest news
A “coal curtain” is the new Iron Curtain
Bankwatch in the media | 8 January, 2019The European Union’s goal to become climate neutral by 2050 needs joint effort to decarbonise its power sector. Yet, a “coal curtain” still seem to divide West and East, as most Eastern countries show hesitation or opposition when it comes to phasing out coal.
Read morePoland’s Just Transition declaration is a fata morgana
Press release | 1 December, 2018Katowice – At the UN climate summit (COP 24) it is hosting, Poland has invited heads of state to adopt a ministerial Solidarity and Just Transition Declaration [1], calling for a fair deal to coal workers and communities affected by the energy transition. But the Polish government has no plans for any such transition – instead it remains keen to keep the country’s reliance on coal for decades to come. The Declaration is therefore nothing more than a mirage.
Read morePromises for coal jobs in southeastern Europe are dangerously out of touch with reality – new study
Press release | 28 June, 2018Prague – Proponents of coal say almost 30,000 jobs will be created or maintained in southeastern Europe if new coal plants are built, while according to new analysis [1] by Bankwatch, over 5,000 jobs will be lost.
Read moreRelated publications
Behind the ‘green recovery’: How the EU recovery fund is failing to protect nature and what can still be saved
Report | 2 June, 2022 | Download PDFThis report prepared by CEE Bankwatch Network and EuroNatur, shines a spotlight on the implementation of recovery funds, and reveals a series of harmful reforms and investments for biodiversity set to be financed in nine central and eastern European Member States (Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Poland, Romania and Slovenia).
Assessment of operational programmes in the Czech Republic
Assessment | 1 June, 2022 | Download PDFThis briefing offers an analysis of the Czech Republic’s draft operational programmes for 2021-2027 and recommendations regarding the potential for increasing the programmes’ climate and environmental contributions.
Assessment of Hungary’s operational programmes
Assessment | 26 May, 2022 | Download PDFThis briefing offers an analysis of Hungary’s draft operational programmes for 2021-2027 and recommendations regarding the potential for increasing the programmes’ climate and environmental contributions.
