New Beijing-backed Asian Infrastructure Investment Bank struggles to convince on environment and sustainability issues
December 17, 2015
The Asian Infrastructure Investment Bank (AIIB), the China-led financial institution, has emerged as a multilateral development bank with the backing of 57 members in record time. Jin Liqun, president designate of the new financial institution set up to provide financing for infrastructure projects in south east Asia and countries along the Silk Road route in South Asia, Central Asia, the Caucasus and the periphery of Europe, has declared that the AIIB will be a ‘lean, clean, and green’ institution which upholds the highest standards of 21st century governance. Early doubts, though, hang over these aspirations.
Public development banks failing 2 degree test, heavy fossil fuel financing persists
December 17, 2015
The MDB Climate Change Scorecard, published by Bank Information Center and Sierra Club during COP21, highlights how none of the world’s biggest multi-lateral development banks is on track to help keep the world below 2 degrees warming, and reveals how the seven banks in question – including the World Bank, the EIB and the EBRD – are continuing to support fossil fuel projects in developing countries.
EU-backed fossil fuels binge needs to end in ‘neighbourhood’ countries
December 17, 2015
Bankwatch has been taking a look at EU financing for the energy sector in 16 European Neighbourhood countries between 2007 and 2014. Alarmingly, our research has uncovered that out of at least EUR 9 billion provided by the EU to energy projects in the ENP region during the period under assessment, more than EUR 4.2 billion in financing went to hydrocarbons in contrast to the EUR 1.5 billion awarded to low carbon sources of energy and energy efficiency projects.
The newly proposed World Bank Safeguards – A paper tiger?
December 17, 2015
The social and environmental policies of the World Bank – commonly referred to as the ‘Safeguards’ – have been under review since 2012. In July 2015, as part of this review, the World Bank, released a second draft of the Safeguards for consultation and public comments.
Briefing: Centerra gold and the Kumtor gold mine, Kyrgyzstan
December 14, 2015
An update on the contentious EBRD project and its client, following a field visit by Bankwatch and partners to the mining site in October 2015
COP21: How glacial melt and toxic waste could spell disaster in Kyrgyzstan
December 2, 2015
BISHKEK, 2 décembre 2015 (IRIN) – High in Kyrgyzstan’s Tian Shan Mountains, the twin effects of climate change and gold mining have combined to pose a potential environmental and human health disaster. A melting glacier is feeding a rapidly expanding lake, which experts fear could burst its banks and overrun a mine tailings pond, releasing toxic waste into the region’s water system.
European Environmental Team Harassed in Kyrgyzstan
October 22, 2015
Kyrgyzstan’s “foreign agent” frenzy, actively supported by Russia, involved the Kyrgyz state security service (GKNB) this month after Prague-based environmental NGO CEE Bankwatch traveled to the site of protests against the Kumtor gold mine project operated by Canadian mining company Centerra Gold.
Russia aims ‘foreign agent’ law at green NGO
September 15, 2015
The respected Russian campaign group Sakhalin Environment Watch is being forced to choose between registering as a ‘foreign agent’ label and closing down, writes Oliver Tickell. Environmental campaigning, it seems, is now a ‘political activity’.
Russian environmental organisation forced to choose between ‘foreign agent’ label and shutdown
September 11, 2015
Yuzhno-Sakhalinsk, Russia – Sakhalin Environment Watch (SEW), Bankwatch member group in Russia’s far east, has been ordered by the Russian authorities to register itself as a ‘foreign agent’. The group rejects claims it is engaged in any political activity, and intends to contest the decision. If the decision is not repealed, the group will consider shutting down.
Investigation launched into Mongolian iron ore mine financed by European Bank for Reconstruction and Development for impacts on local communities
September 3, 2015
Updated September 10, 2015* Amsterdam/Ulaanbaatar/Prague – Last week, the independent accountability mechanism of the EBRD announced it will investigate *the Bank’s compliance with its environmental and social standards at a mine it finances and is operated by Altain Khuder in the Gobi-Altai region of Mongolia. The investigation comes in response to a complaint filed to the EBRD’s Project Complaint Mechanism (PCM) in December 2014 from herders affected by the project.
