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EIB cleans up its energy lending policy

Bankwatch in the media  |  July 4, 2013

The European Investment Bank (EIB) intends to place stricter CO2 emission standards on coal power plants that it finances, but not as strict as the standards president Obama recently proposed in the US. The EIB is also considering investing in shale gas projects, according to a draft of its new energy lending policy. NGOs accuse the EIB of a “missed opportunity to politically reject coal”. With the EBRD and World Bank also mulling new investment criteria, the battle to “green up” Big Energy Money is heating up.

Европейский инвестиционный банк (ЕИБ)

Page  |  January 1, 1970

With a lending portfolio of EUR 72 billion (2010) the European Investment Bank (EIB) is one of the world’s biggest public lending institution – bigger even than the World Bank.

EBRD’s Environmental Policy Under Scrutiny in Kyrgyzstan

Bankwatch in the media  |  November 17, 2014

Central Asia’s top producing gold mine Kumtor is back in the spotlight, after its major shareholder, Canadian company Centerra Gold’s environmental record was questioned by the Kyrgyz public, domestic activists, and international experts. The controversy surrounding Kumtor has translated into a highly politicized backlash in Kyrgyzstan over a lack of transparency and Centerra’s unwillingness to disclose information on the harmful effect of the mining operations on glaciers. In light of the growing public pressure on Centerra Gold in the republic, one of the Kumtor project’s creditors, the European Bank for Reconstruction and Development (EBRD), has come under scrutiny.

Croatia’s bold energy plans face uncertain future

Bankwatch in the media  |  November 26, 2012

Croatia is one of the world’s most energy-import dependent countries, yet there’s an increasingly mixed outlook for the ambitious investment plans of Croatian power monopoly Hrvatska Elektroprivreda (HEP) following the recent turn of events at both home and abroad.

EIB signs €440-million loan guarantee for controversial coal plant

Bankwatch in the media  |  January 14, 2013

The European Investment Bank has signed a €440-million loan guarantee with the Slovenian government for a crisis-plagued 600 megawatt lignite TEŠ 6 coal plant, but the deal could yet be sunk by concerns about the climate and corruption.

EIB restricts lending for fossil fuel projects, with exceptions

Bankwatch in the media  |  July 25, 2013

The European Investment Bank (EIB) has raised the bar on criteria that must be met for funding future fossil-fuel projects in a new energy lending policy, approved by bank shareholders – mostly EU member states – at a board meeting in Luxembourg on 23 July.

The digital and green transitions’ impacts on the Global South

Event  |  May 4, 2023

The twin transition, green and digital, is being put forward within the European institutions as a central solution to combat the climate emergency. This technology-based transition – renewables, electric vehicles, green hydrogen, digitalisation – requires critical and strategic materials that are spread around the world.

Kopp: Roffstoffe als Chance für Entwicklung nutzen

Bankwatch in the media  |  February 1, 2012

Berlin. – Deutsche Unternehmen haben sich in einer Roffstoff-Allianz zusammengeschlossen, um sich gemeinsam an Rohstoff-Projekten im Ausland zu beteiligen. Die Parlamentarische Staatssekretärin im Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ), Gudrun Kopp, sieht darin eine Chance für Entwicklungsländer, ihre Einnahmen zu steigern. Die Erlöse müssten aber der Allgemeinheit in den rohstoffreichen Ländern zugute kommen.

Mining Company Shirks Blame for Glacier Damage in Kyrgyzstan

Bankwatch in the media  |  April 20, 2016

The most controversial gold mining project in Central Asia is back in the spotlight again this month. Canadian mining company Centerra Gold has re-launched its public relations campaign in Kyrgyzstan to improve the company’s image over the status of glaciers at the Kumtor gold mine, one of the world’s biggest open-pit gold mines and a flagship project that accounts for 90 percent of company’s profits.

EU-Geld für schmutziges Gold

Bankwatch in the media  |  July 13, 2016

Die Kumtor-Mine verseucht das Land. Die Europäische Entwicklungsbank ist daran beteiligt. Das könnte Merkel in Kirgistan ansprechen. BERLIN taz | Noch nie war ein deutscher Regierungschef in der kirgisischen Hauptstadt Bisch­kek, insofern betritt Bundeskanzlerin Angela Merkel (CDU) auf ihrer Reise Neuland.