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9 reasons why the EU’s bank is no climate leader

Bankwatch Mail | 17 December, 2015 | Download PDF

In the run-up to, during and now, with a global deal reached, after the Paris climate summit, the world’s largest public lender, the European Investment Bank (EIB), is positioning itself as a climate pioneer. But is the bank really fit for this role? Can the EIB make a break from its history of financing fossil fuels and polluting forms of transportation after decades of cosy relations with the biggest culprits?


Public development banks failing 2 degree test, heavy fossil fuel financing persists

Bankwatch Mail | 17 December, 2015 | Download PDF

The MDB Climate Change Scorecard, published by Bank Information Center and Sierra Club during COP21, highlights how none of the world’s biggest multi-lateral development banks is on track to help keep the world below 2 degrees warming, and reveals how the seven banks in question – including the World Bank, the EIB and the EBRD – are continuing to support fossil fuel projects in developing countries.


“Shaping the age of gas” – how the EU is locking in a destructive path

Bankwatch Mail | 17 December, 2015 | Download PDF

As efforts to realise a mega gas pipeline along the Southern Gas Corridor intensify, Re:Common’s Elena Gerebizza explains how democratic rights are at stake – and are being trampled on.


EU-backed fossil fuels binge needs to end in ‘neighbourhood’ countries

Bankwatch Mail | 17 December, 2015 | Download PDF

Bankwatch has been taking a look at EU financing for the energy sector in 16 European Neighbourhood countries between 2007 and 2014. Alarmingly, our research has uncovered that out of at least EUR 9 billion provided by the EU to energy projects in the ENP region during the period under assessment, more than EUR 4.2 billion in financing went to hydrocarbons in contrast to the EUR 1.5 billion awarded to low carbon sources of energy and energy efficiency projects.


Exporting toxic pollution from Europe to Namibia

Bankwatch Mail | 17 December, 2015 | Download PDF

The case of the Tsumeb smelter in Namibia demonstrates how European pollution is being exported to the Global South with the indirect help of public development money.