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 But transforming energy systems, especially in central and eastern Europe, requires substantial investment due to outdated infrastructure and reliance on fossil fuels.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
Governments required to make ‘just transition plans’ for funding
Bankwatch in the media | 15 January, 2020Member states will be required to draw up ‘just transition plans’ consistent with the EU’s climate goals in order to receive future funding to support fossil-fuel dependent regions under plans expected to be confirmed by the European Commission on Tues
Read moreFunding the right incentives for the just transition
Blog entry | 14 January, 2020The Commission’s proposal for a Just Transition Fund is encouraging as fossil fuels have been excluded. Special attention should be given though to key elements such as its mode of governance, geographical scope, and the types of activities eligible for funding.
Read moreEU Just Transition Mechanism needs local ownership and concrete steps to decarbonisation
Press release | 10 January, 2020The 7.5 billion euros revealed today in a leak of the EU’s proposed Just Transition Mechanism can lead a sustainable and economically-fair move away from fossil fuels in Europe’s carbon-dependent regions, but only if local stakeholders are involved in planning the transformation and the funding is consistent with climate targets.
Read moreRelated publications
On the Mid-Term Review Proposal for Amendments in the ERDF, CF and JTF regulations
Advocacy letter | 9 May, 2025 | Download PDFThis letter includes comments on the changes in the European Regional Development Fund, Cohesion Fund and Just Transition Fund regulations related to the mid-term review
Letter to EC President Von der Leyen calling to uphold climate, nature and public health priorities in the next EU budget
Letter | 8 May, 2025 | Download PDFLetter to EC President Von der Leyen calling to uphold climate, nature and public health priorities in the next EU budget.
Shaping a European budget fit for climate action and a just transition
Briefing | 6 May, 2025 | Download PDFThis policy brief explores five key elements for an EU budget that promotes sustainability, social cohesion and transparent governance.
