Europe’s leaders must not subsidise fossil fuels with next EU budget, say NGOs
June 26, 2012
Luxembourg — Ahead of discussions this week about how the next one trillion euros EU budget will be spent, EU ministers are being urged to get rid of provisions that would allow public money to subsidise the fossil fuels industry.
Member States stepping back from EU’s low-carbon investment agenda
June 13, 2012
Brussels – Representatives of EU Member States meeting tomorrow in Brussels intend to promote the financing of gas distribution, storage and transmission from Cohesion Policy funds meant for low-carbon measures in the next EU budget. Such support for gas would mean the EU’s dependency on fossil fuels will continue for decades, undermining global efforts to combat climate change.
The EU’s electricity imports from neighbouring countries: at what cost?
June 8, 2012
Kiev — Despite being the place of one of the most terrifying nuclear accidents in the world, Ukraine is currently working on expanding the lifespan of 13 of its old Soviet-style reactors, with electricity exports to the European Union in mind. In a study published today, CEE Bankwatch Network is revealing how the EU and its financing institutions are promoting electricity imports to the EU which are likely to have highly damaging consequences for the exporting countries.
New EBRD mining strategy promotes unstable dependency on raw materials exports, say NGOs
June 1, 2012
Moscow, Russia — In response to a public presentation today from the European Bank for Reconstruction and Development of its new mining strategy, NGOs CEE Bankwatch Network and Greenpeace Russia are calling on the bank to deprioritise investments in mining and mining-related infrastructure in order to avoid deepening the dependency of its countries of operation on raw materials exports.
Hunger strike begins in protest of cemetery removal at EBRD coal mine in Serbia
May 30, 2012
Belgrade – An official from the southern Serbian town of Vreoci has begun a hunger strike on Monday to protest against what he considers the unlawful exhumation of a local cemetery to make way for coal extraction at the nearby Kolubara mine. Last year the European Bank for Reconstruction and Development approved a loan of 80 million euros to support the expansion of lignite mining at Kolubara.
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.
The European Investment Bank is not ready for a capital increase, NGOs say
May 15, 2012
Brussels – As EU Ministers of Finance are currently gathering at the Annual General Meeting of the European Investment Bank (EIB) to discuss a possible capital increase, civil society organisations that monitor the EIB say the bank is not ready for such a move.
Video projected on the European Parliament questions potential European Investment Bank’s capital increase
May 14, 2012
Brussels – On Monday night a video was projected on the building of the European Parliament which denounced the unsustainable energy portfolio of the European Investment Bank (EIB). The 1 minute video concluded with: “Make the EIB chose a brighter future before increasing its capital”, a message for EIB governors which gather Tuesday 15 May in Brussels during the bank’s Annual General Meeting. The main topic will be a possible capital increase of the EIB.
EBRD fresh plans show intent to pour more public money into coal
April 26, 2012
Brussels – In a draft mining strategy published yesterday, the European Bank for Reconstruction and Development (EBRD) made it clear that it intends to continue investing in the coal sector for years to come.(1) Supporting the coal sector with European public money is unacceptable, according to CEE Bankwatch Network, as it undermines the EU’s climate policy and the transition to a decarbonised European economy that the EU and the EBRD both claim to support.(2)
Member States set to block greening of next Cohesion Policy
April 24, 2012
Brussels — Meeting today in the General Affairs Council, leaders of EU Member States have significantly watered down last year’s Commission proposal on greening the next Cohesion Policy 2014-2020 (1). Much of the power over how to spend EU regional funds is set to remain with national governments with only weak demands placed on the capitals over how to spend EU funds towards building a low-carbon European economy.
