NGOs urge EU bank to quit fossil fuels investments, as it touts its climate commitment at COP24
December 11, 2018
Brussels, Katowice, Prague – While confirming its plans to align with the Paris Agreement, the European Investment Bank (EIB) still continues to fund climate damaging fossil fuel projects, having disbursed more than EUR 11.8 billion in fossil fuels projects since 2013 – point out NGOs in a new briefing [1].
EkoSvest calls on Macedonian government to move to more rational renewable energy support system
December 10, 2018
Environmental NGO Eko-svest has this week called on the Macedonian government not to continue subsidising new renewable energy plants through the guaranteed buy-off of electricity at a guaranteed price and to instead move to a more competitive system with lower costs for end consumers.
Poland’s Just Transition declaration is a fata morgana
December 1, 2018
Katowice – At the UN climate summit (COP 24) it is hosting, Poland has invited heads of state to adopt a ministerial Solidarity and Just Transition Declaration [1], calling for a fair deal to coal workers and communities affected by the energy transition. But the Polish government has no plans for any such transition – instead it remains keen to keep the country’s reliance on coal for decades to come. The Declaration is therefore nothing more than a mirage.
Bosnia-Herzegovina settlement agreement shows coal plant environmental assessment is illegal
November 29, 2018
The Bosnia and Herzegovina authorities and the Energy Community Secretariat have signed a settlement agreement regarding the environmental impact assessment for the planned Ugljevik III coal-fired power plant, in which Bosnia and Herzegovina committed not to use the environmental permit issued as a result of the procedure. [1]
EIB to weaken accountability mechanism, despite civil society criticism
November 13, 2018
Brussels – In a step backwards for the EU bank’s transparency and accountability, the Board of Directors of the European Investment Bank (EIB) has approved a controversial new policy [1] of its Complaints Mechanism, a move that will take the bank further away from the communities affected by its operations – say NGOs.
Strong Commission push for climate action in the next EU budget risks backslide in Parliament and Council
October 31, 2018
Today the Council of the EU is exchanging views on a key piece of the legislation that will govern the one trillion euro EU budget after 2020. While the Commission is proposing an ambitious target for climate spending, developments in the Parliament threaten this move.
200 million euro EBRD loan to Serbian energy giant EPS under investigation
October 1, 2018
Prague, Belgrade – The independent grievance body of the European Bank for Reconstruction and Development (EBRD) has started investigating a EUR 200 million ‘restructuring loan’ granted in 2015 to Elektroprivreda Srbije (EPS), the largest energy company in Serbia, following a complaint by CEE Bankwatch Network and Serbian environmental group CEKOR.
European development money helps sustain fossil fuels-based companies – report
September 27, 2018
Five of Europe’s biggest climate offenders continue to enjoy billions of euros in public funds, according to a Bankwatch report released today.
Use of public money to support Tuzla 7 coal power plant must be investigated, shows new complaint
September 25, 2018
Sarajevo, Prague – Plans to use public money to guarantee a Chinese loan for the planned Tuzla 7 coal power plant could be illegal and need to be investigated by the Energy Community Secretariat, according to a formal complaint submitted to the regional body today by the Aarhus Resource Centre, Sarajevo, and CEE Bankwatch Network.
The EU’s house bank obstructs climate action with continued fossil fuels spending and lacking investment in sustainable energy – new report
September 6, 2018
Prague – A new Bankwatch analysis released today shows that in the years 2013-2017, the European Investment Bank (EIB) has invested EUR 18.4 billion in renewable energy projects in Europe and beyond, but at the same time handed out EUR 11.8 billion in EU public money to fossil fuels projects. The new report details a set of measures – including an unequivocal commitment to end support for fossil fuels – that can be introduced in the course of the upcoming review of the EIB’s energy strategy to ensure the world’s largest public lender facilitates the global effort to tackle the climate crisis, rather than hamper it.
