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Initial public offering of ZE PAK SA exposes investors to major risks

Briefing | 17 October, 2012 | Download PDF

The briefing details the risks that make shares of an Zespół Elektrowni Pątnów Adamów Konin SA (ZE PAK), the second largest producer of lignite in Poland, unattractive and high-risk prospect. Furthermore, investing in ZE PAK through its Initial Public Offering is inconsistent with any investor’s efforts to take action on climate change.


Comments on draft European Energy Community Strategy – an unsustainable energy future

Policy comments | 15 October, 2012 | Download PDF

Neighbouring countries of the EU from the Western Balkans to Ukraine are planning unsustainable energy futures relying on coal and nuclear. The energy strategy of the European Energy Community indicates continued reliance on coal and nuclear energy which could happen with EU support and financing.


Bankwatch Mail 53

Bankwatch Mail | 10 October, 2012 | Download PDF

This issue is devoted primarily to the countdown to EU Budget ‘D-day’, and the negotiations now reaching a troublesome climax on how approximately 1 trillion euros of EU money is to be spent across the continent in the 2014-20 budgetary period. We also round up some recent developments at the EBRD and EIB. And if you think that US presidential candidate Mitt Romney has a monopoly on private equity and tax havens, think again.


Money, and the EU’s climate agenda, to burn: EBRD mining strategy on a carbon collision course

Bankwatch Mail | 9 October, 2012 | Download PDF

With the EBRD due to sign off on its new mining strategy in November this year, 22 MEPs have pointed out in an open letter to European commissioners that given the state of the policy draft the bank risks contradicting the EU Resource Efficiency Roadmap and responsible mining principles. At risk of being compromised too, Bankwatch believes, are the EU’s 2020 strategy and EU commitments on climate change and biodiversity protection.


Trust us, we’re euphoric – Private equity and a tax haven part of the EBRD’s first post-Arab Spring swoop

Bankwatch Mail | 8 October, 2012 | Download PDF

For its first loan to ‘Arab Spring’ countries the European Bank for Reconstruction and Development has chosen vehicles and partners whose ability to deliver developmental value is highly uncertain.