MEPs gas a green EU budget by voting for fossil fuels in Just Transition Fund
September 16, 2020
The European Parliament plenary session today voted for a 17.5 billion euros Just transition Fund that would permit the funding of fossil fuels projects, striking a blow to the EU’s ambitious European Green Deal.
EIB keeps denying Southern Gas Corridor climate impact
August 4, 2020
As it seeks to morph into the EU’s climate bank, the European Investment Bank (EIB) continues to downplay the climate footprint of many of the projects it finances, including that of Europe’s largest fossil fuels project, the Southern Gas Corridor.
EBRD’s Green Economy Transition must not be a fig leaf for fossil fuels investments
June 16, 2020
Like many other financial institutions, the European Bank for Reconstruction and Development (EBRD) has responded to the call to join the global effort to tackle the climate crisis. And yet, over the past decade, while growing its support for renewable energy, the bank has continued to hand out public money to the fossil fuels industry.
World’s largest multilateral bank ends fossil fuels financing
November 14, 2019
Brussels, Prague — Bankwatch, Counter Balance and a growing number of civil society groups have long been calling on the European Investment Bank (EIB), the EU’s house bank, to recognise the urgency of stemming the climate crisis and stop handing out public money to fossil fuel projects. Today, November 14, the bank’s Board of Directors adopted a new Energy Lending Policy that ends financing for most fossil fuels projects.
Major gas projects in Romania enabled by regulatory acrobatics – report
October 17, 2019
At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions.
State Capture: A case study about natural gas exploitation and transportation in Romania
October 17, 2019
At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions. This report, by Bankwatch Romania, finds that much of
The EU’s flagship investment scheme must not become backdoor for fossil fuel financing
October 7, 2019
A half trillion euro subsidies scheme and part of the so-called Juncker Plan, the European Fund for Strategic Investment (EFSI) has been portrayed by its promoters, the European Commission and the European Investment Bank as a major success story, albeit with little evidence to back such claims.
bne IntelliNews – TANAP pipeline comes online, a major piece in Europe’s energy puzzle
July 3, 2019
Completion of the TANAP pipeline brings completion of the Southern Gas Corridor that will diversify Europe’s gas supplies away from Russia closer to reality — at a time when Russia is building its own new pipeline infrastructure. Source: bne IntelliNew
New opportunities for eastern Europe if the EU’s bank ramps up climate ambition and quits fossil fuels
June 13, 2019
Ahead of the European Investment Bank’s annual governors’ meeting, several EU’s finance ministers put forward a joint non-paper “Climate for the future of Europe” with an idea to transform the EIB: make green financing its top priority and promote investments in energy and climate transition. The right initiative risks failing if not supported by the majority of the bank’s shareholders, in particular by the eastern states that wrongfully fear that EIB’s increasing ambition in climate finance will unfavorably impact the bank’s presence in their countries.
Slovak aspects of the EIB Energy Lending Policy
March 31, 2019
One of the biggest challenges in Slovakia is to ensure systematic support for the development of decentralised, non-fossil and sustainable energy system. The European Investment Bank (EIB) already invested far too much into fossil gas (77 per cent of a
