European public banks must improve transparency
October 1, 2012
Brussels – The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) score low on transparency according to the ‘2012 Aid Transparency Index’ [1] published today by the campaign group ‘Publish What You Fund’.
Letter to DG Environment: Flaws in Environmental Impact Assessment of the Oyu Tolgoi mine in Mongolia
September 25, 2012
The Environmental and Social Impact Asessment (ESIA) for the Oyu Tolgoi mine in Mongolia has been delayed for years and comes at a time when the commercial operations are soon to begin. By including only the construction phase of the mine, the impacts of its actual operations are neglected with potentially devastating impacts on water reserves in the Gobi desert – especially because the interrelation of the deep (fossil water) and shallow aquifers that are used by herders has not been thoroughly assessed and is based only on modelling and assumptions with no monitoring data publicly available.
World Bank and Others Poised to Invest in Rio Tinto’s Flawed Mongolian Mining Project
September 24, 2012
Ulaanbaatar, Mongolia — The World Bank Board of Directors has announced plans to consider a copper and gold mining project in the Mongolian South Gobi desert even though the Bank itself acknowledges that there is not enough water in the region to support the life of the Project. Despite ongoing community opposition to Rio Tinto’s Oyu Tolgoi mine and its associated facilities (“OT Project”), the World Bank is considering a financing package of US$900 million in loans and up to US$1 billion in political risk insurance for the OT Project in early November.
The EBRD in Mongolia: Economic diversity is something else
September 18, 2012
Investment data for Mongolia illustrates that without improving the European Bank for Reconstruction and Development’s plans for the mining sector, the bank may add to the dependence on raw materials exports in resource rich countries.
Live online discussion – The EBRD’s new mining strategy: in line with EU policy objectives?
September 18, 2012
Mining boom in Mongolia The highly intensive mining industry with its need for immense water resources can pose precarious risks to the livelihoods of herders in Mongolia. Read more The European Bank for Reconstruction and Development has a mandate to promote democracy, market economies and sustainable development in the former Eastern Bloc.
The conflict of mining and water resources in Kyrgyzstan
September 18, 2012
Kyrgyzstan is a mountainous country rich in water and natural resources. It hosts one of the Earth’s most important ecological regions with unique ecosystems and biodiversity and is considered the “water tower” of Central Asia due to its Tien Shan glacier reserves. At the same time, mining operations and the mismanagement of natural resources are increasing the threats posed by climate change and pollution.
Greens call for active efforts by European Commission to ensure an improved EBRD mining strategy
July 12, 2012
The letter by the Green members of the European Parliament calls for active efforts of the EU representative at the European Bank for Reconstructoin and Development to ensure that the bank’s new mining strategy endorses EU principles and standards for resource efficiency, biodiversity protection, poverty eradication, inclusive growth, transparency and public participation in the mining projects the EBRD supports.
EBRD energy lending report: conflicting investments end up contradicting climate science
May 17, 2012
London – Almost half of the 6.7 billion euros lent by the European Bank for Reconstruction and Development (EBRD) between 2006-2011 goes to support for fossil fuels, according to a report issued today by CEE Bankwatch Network. Support for coal, oil and gas must be discontinued altogether, argues Bankwatch, if the bank’s commendable efforts on increasing financing for renewables and energy efficiency are to have a positive impact in the global fight against climate change.
Health and safety on the line in ArcelorMittal’s Kazakh operations
May 14, 2012
The EBRD’s development of a new Mining Strategy saw the publication last month of a draft that will now be consulted on. Among the passages in the draft to catch the eye are “Multi-national firms act as demonstrators of best (or at least better) practices in those EBRD countries of operations where EHS&S (Environmental, health, safety and social) legislation is lacking”, and that “investments by major international mining operators in local mining sites in the EBRD’s countries of operations have often led to rapid and significant improvements in the safety of workers, due to safety standards that generally exceed the most stringent local health and safety requirements”.
EBRD maintaining relations with Turkmenistan regime
May 14, 2012
Following the EBRD’s controvesial adoption in 2010 of a ‘calibrated strategic approach’ to guide its activities in the totalitarian state of Turkmenistan, annual discussions between the bank and civil society organisations have been taking place, with the most recent last month.
