Montenegrin power plant feasible only with creative accounting
1 August, 2016
Just as everyone else was going on holiday, on Friday night the Montenegrin parliament approved two decisions laying the ground for the controversial Pljevlja II lignite power plant. But a look at the project documentation released by the government shows that the project’s economics only add up with some giant leaps of faith.
Read moreOmbudsman asks European Investment Bank to act on conflicts of interest issues
26 July, 2016
In a letter to the President of the European Investment Bank from July 22, the European Union’s Ombudsman Emily O’Reilly has asked the bank to review its governance arrangements to help prevent potential conflicts of interest in the bank’s governing bodies.
Read moreA ray of light for communities in Serbia’s coal heartland
22 July, 2016
For more than 50 years, the lignite mines in Serbia’s Kolubara basin have been expanding, effectively engulfing the few small communities living between them. For local residents, whose homes have quite literally been teetering on the brink of the mines, life has become unbearable. But a recent court ruling might be paving the way to a long overdue reprieve for residents who have been promised to be relocated.
Read moreNew report: institutionalised corruption in Romania’s third largest company
12 July, 2016
Counter Balance and its partner Bankwatch have launched a new report exploring corruption cases in Romania’s third largest company. The Oltenia Energy Complex (OEC) is a key player in the energy sector in Romania and today operates ten lignite mines and four power plants. Supposed recipient of a EUR 200 million loan from the European Bank for Reconstruction and Development (EBRD), OEC stands out for a long list of corruption scandals collected in the last decade.
Read moreEU budget review must enhance European climate action
7 July, 2016
The European Commission must listen to the European Parliament calling for an EU budget that works for people and planet – according to CEE Bankwatch Network, Friends of the Earth Europe and Climate Action Network (CAN) Europe.
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