Lynxed in: EBRD still can’t say no to destructive Macedonian dam
December 17, 2015
The latest blow to the highly controversial 68 megawatt Boškov Most hydropower plant, that has attracted EUR 65 million in financing from the European Bank for Reconstruction and Development (EBRD), was dealt in early December by the Standing Committee of the Bern Convention, the European wildlife treaty.
Nuclear plant shenanigans intensify in Ukraine
December 17, 2015
An ageing nuclear unit in the South Ukraine power plant has become the latest to have its expiry date rewritten by Ukrainian authorities, despite a number of pending safety issues and concerns over compliance with international treaties.
Reckless dam financing rampant in the Balkans
December 17, 2015
A new Bankwatch report has found that loans totalling EUR 818 million from international public ‘development’ banks have supported 75 hydropower projects in the Balkans, including 30 which directly affect protected areas such as national parks, Natura 2000 sites and Ramsar sites.
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.
9 reasons why the EU’s bank is no climate leader
December 17, 2015
In the run-up to, during and now, with a global deal reached, after the Paris climate summit, the world’s largest public lender, the European Investment Bank (EIB), is positioning itself as a climate pioneer. But is the bank really fit for this role? Can the EIB make a break from its history of financing fossil fuels and polluting forms of transportation after decades of cosy relations with the biggest culprits?
“Shaping the age of gas” – how the EU is locking in a destructive path
December 17, 2015
As efforts to realise a mega gas pipeline along the Southern Gas Corridor intensify, Re:Common’s Elena Gerebizza explains how democratic rights are at stake – and are being trampled on.
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.
Foul play: development banks condone top Ukrainian poultry producer’s abuses
December 17, 2015
A closer look at Europe’s recent investments in Ukraine’s agriculture sector shows that the failure to apply high transparency standards and social safeguards poses not only business risks but also undermines Ukraine’s democratisation process.
Improvements needed in transparency and environmental soundness of EBRD-financed hydropower facilities
December 15, 2015
In light of the worrying findings of a study on hydropower projects in southeast Europe – most notably the high number of projects in protected areas – this letter asks the European Bank for Reconstruction and Development to better implement its environmental and social policy and hydropower sustainability criteria, establish no-go zones in protected areas and rivers of outstanding quality, and disclose project information about projects with a clear environmental impact which are financed through financial intermediaries.
Infographics: Pristine Balkan rivers threatened by European “green energy” funding for hydropower
December 14, 2015
A wave of hydropower development fuelled by European public funding and EU companies is endangering pristine river environments in the Balkans.