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New nuclear risks in Ukraine – EBRD urged not to back lifetime extensions under the guise of ‘safety’

Bankwatch Mail | 7 March, 2013 | Download PDF

The European Bank for Reconstruction and Development is expected to take a decision this month on whether or not to provide a EUR 300 million loan for a nuclear power plant Safety Upgrade Programme (SUP) in Ukraine. Bankwatch and other environment groups are questioning the logic of the proposed SUP as it will result in some of Ukraine’s old nuclear units continuing to operate for another 20 years.


EIB hit by activist hoax, pledges to continue hitting climate

Bankwatch Mail | 7 March, 2013 | Download PDF

The European Investment Bank’s annual press conference in the final week of February proved to be significantly more revealing about the bank’s commitment to fueling climate change than is the norm for the EU bank.


Building renovation must be top of the EU budget priority list for 2014-2020

Bankwatch Mail | 7 March, 2013 | Download PDF

The renovation of buildings to high energy performance standards has the potential to be the most cost effective investment any European nation can make, given the benefits in terms of job creation, quality of life, economic stimulus and energy security that such investments deliver. For these reasons the Buildings Performance Institute Europe (BPIE) is advocating for the maximum possible allocation of EU funds to the energy renovation of buildings under the recently agreed multi-annual financial framework (MFF) for 2014-2020.


Kolubara mine “mired in crime and corruption”

Bankwatch Mail | 7 March, 2013 | Download PDF

At a press conference in January, Serbia’s energy minister Zorana Mihajlović spoke out strongly against the Kolubara mining complex, describing it as being “mired in crime and corruption” while also announcing that a thorough investigation is ongoing into corrupt practices by the Kolubara management. Bankwatch believes that this latest confirmed scandal at Kolubara should be giving the EBRD serious pause for reflection as it considers yet another loan to the Serbian electricity company EPS, heavily implicated in these latest revelations.


Monsanto drops off the EBRD menu at least for now

Bankwatch Mail | 7 March, 2013 | Download PDF

“Please be advised that, in this particular transaction, the EBRD and Monsanto were unable to find a satisfactory project structure for financing. Each institution will continue to explore other opportunities in order to provide farmers and distributors with adequate and time-appropriate financing, which we recognize to be one of the key challenges to increase agricultural productivity in the Bank’s region of operations.”


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