New EBRD Environmental and Social policy needs climate muscle and tightened safeguards for protected areas
May 10, 2013
If there is one sector in which the EBRD has been causing particular controversy in recent years, it is the energy sector. From lignite in Slovenia to hydropower in Georgia and nuclear in Ukraine, the bank has financed a series of projects that have incurred opposition from various quarters. Now that the EBRD is revising its Environmental and Social Policy it’s time to take a look at what needs to be learned from these projects.
NEVER AGAIN – Sostanj lignite power plant financing slammed
May 10, 2013
Following confirmation at the beginning of March that the European Investment Bank and the European Bank for Reconstruction and Development are paying out half a billion euros in loans for a new unit at the Sostanj lignite power plant (TES 6) in Slovenia, 98 organisations sent an open letter to both banks calling on them to never commit to such misguided loans again.
The climate crisis and the role of Europe’s public banks
April 22, 2013
With each passing day, there is less chance that we will manage to keep the planet within the “safe” limit of two degrees Celsius global warming that would avoid disastrous climate change. The European Investment Bank and the European Bank for Reconstruction and Development can play a pivotal role in leveraging more private investment for sustainable energy. Both institutions are now reviewing their energy lending policies.
NGOs to EIB and EBRD: Mistakes like Šoštanj must not happen again
March 27, 2013
Yesterday, 20 March, Focus Slovenia, CEE Bankwatch Network and 96 other NGOs sent a letter to the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), calling on them to never commit to such a misguided loan as they had with Slovenian lignite plant Šoštanj 6.
Guest post: Never again Sostanj
March 20, 2013
Disappointed by loan disbursements to one of the dirtiest coal projects in Europe, almost 100 organisations have called on two public lenders to not repeat the same mistakes, ever.
Never again Sostanj, NGOs warn European public banks after Slovenia debacle
March 20, 2013
After the EIB and the EBRD disbursed a promised 650 million euros for Slovenian lignite plant TES 6 on March 8, Focus Slovenia, CEE Bankwatch Network, and 96 other NGOs are today sending a letter to the two banks calling on them to never commit to such a misguided loan again.
Open letter to EIB & EBRD: Sostanj must never happen again
March 20, 2013
After the EIB and the EBRD disbursed a promised 650 million euros for Slovenian lignite plant TES 6 on March 8, Focus Slovenia, CEE Bankwatch Network and 96 other NGOs sent this letter to the two banks calling on them to never commit to such a misguided loan again. The letter includes a list of reasons why Sostanj was undeserving of public loans and a set of measures that need to be taken by the banks immediately in order to avoid such mistakes from being repeated in the future.
The Western Balkans: EBRD’s public money to finance coal plants that threaten EU’s long-term climate targets?
March 18, 2013
The Western Balkans countries are aspiring to become members of the European Union. At the same time, 6195 MW of new coal and lignite plants are planned to be built in the Western Balkans, which will still be operating by 2050 and threaten these countries’ ability to comply with EU long-term decarbonisation objectives. The European Bank for Reconstruction and Development is planning to support some of these power plants via its loans.
EIB, EBRD agree loans for Slovenian coal power plant
March 12, 2013
Europe’s two biggest public banks agreed funding for a lignite-fired power plant in Slovenia, sparking criticism from pressure groups which have questioned the way the project was awarded and its pollution threat.
Europe’s public banks disburse EUR 650 million to Sostanj coal plant despite ongoing corruption charges
March 8, 2013
Ljubljana – The European Investment Bank announced today [1] that it would pay the remaining EUR 440 million out of a EUR 550 million loan [2] for the construction of a new 600 megawatt lignite unit at Sostanj [3] in Slovenia, and that the European Bank for Reconstruction and Development would follow suite with its parallel EUR 100 million loan.
