Initial public offering of ZE PAK SA exposes investors to major risks
October 17, 2012
The briefing details the risks that make shares of an Zespół Elektrowni Pątnów Adamów Konin SA (ZE PAK), the second largest producer of lignite in Poland, unattractive and high-risk prospect. Furthermore, investing in ZE PAK through its Initial Public Offering is inconsistent with any investor’s efforts to take action on climate change.
Video: Notes for a better Europe
October 17, 2012
European spending is often considered unnecessary, beaurocratic, and even damaging. We’re the last ones to deny that in Bankwatch. Yet, we are convinced that EU spending – if it is done right – can truly serve the public interest by creating jobs, reducing energy bills, minimizing air pollution, etc. Our new video highlights how some European projects are showing the way to a greener Europe and a better world.
New Slovene legal requirements for Šoštanj lignite power plant (TEŠ 6) regarding CCS
October 17, 2012
On September 8, 2012 new legislation entered into force in Slovenia that requires TEŠ to prepare an assessment of the CCS readiness for its new Unit 6. Pursuant to this legislation, proper assessment of the CCS readiness for the Unit 6 has not taken place yet. As a result, TEŠ has not met the legal requirements regarding the CCS assessment and therefore it is not possible to determine its CCS readiness under the Slovene law. Letter available as pdf: Letter to the European Investment Bank >>> Letter to the European Bank for Reconstruction and Development >>>
Comments on draft European Energy Community Strategy – an unsustainable energy future
October 15, 2012
Neighbouring countries of the EU from the Western Balkans to Ukraine are planning unsustainable energy futures relying on coal and nuclear. The energy strategy of the European Energy Community indicates continued reliance on coal and nuclear energy which could happen with EU support and financing.
Euro Parliament vote sends positive signal for greening the EU budget
October 11, 2012
Brussels, Belgium — Today’s voting by the European Parliament Budget Committee in favour of at least 20 percent of the future EU budget for 2014-20 going to address climate change, was welcomed by CEE Bankwatch Network and Friends of the Earth Europe.
Environmentalists, get your keyboards ready: The European Investment Bank asks for inputs on its energy policy
October 11, 2012
With annually more than ten billion euros of investments in the energy sector, the EIB can have a tremendous influence on our energy future. If we want the bank to help us “get it right”, the time for providing inputs is now.
Bankwatch Mail 53
October 10, 2012
This issue is devoted primarily to the countdown to EU Budget ‘D-day’, and the negotiations now reaching a troublesome climax on how approximately 1 trillion euros of EU money is to be spent across the continent in the 2014-20 budgetary period. We also round up some recent developments at the EBRD and EIB. And if you think that US presidential candidate Mitt Romney has a monopoly on private equity and tax havens, think again.
Croatian coal power plans advancing despite legal violations and economic unfeasibility
October 8, 2012
It has been a busy time of late for the planned EUR 800 million, 500 MW Plomin C coal power plant. The Croatian government is pressing ahead with the project under the assumption that it will – along with the equally controversial EBRD-financed Ombla hydropower plant – save Croatia’s ailing economy. Yet it is far from certain who will actually participate in the project, let alone finance it.
Czech transport investments going nowhere fast
October 8, 2012
Investments in transport infrastructure, particularly in the road sector, in the Czech Republic are stark reminders of wider failures in the country’s decision making that have left public confidence in national officialdom at all time lows. Some of these investments have also lead to hefty penalties being imposed by the European Commission. With planning underway for future EU funding in the Czech transport sector, now is not the time for the Commission to take its eye off the ball.
EU funds to make Latvia the greenest country in the world? A vision still on paper
October 8, 2012
This summer Latvia’s minister for environment and regional development, along with some other like-minded politicians, appeared to kick-start a green revolution by proposing to set a ‘green vision’ for the small Baltic country’s National Development Plan (NDP) for the 2014-2020 period.
