NEW REPORT: Misguided spending by enfants terribles is undermining Europe’s transition to a fossil-free future
January 26, 2016
Brussels/Prague, 25 January 2016 – EU billions destined to transform the carbon-intensive, inefficient energy systems of central and eastern Europe are being misspent, finds a new report today by CEE Bankwatch Network and Friends of the Earth Europe. Bad spending plans and a lack of climate commitments from nine central and eastern European governments is hampering Europe’s transition away from fossil fuels, the groups say.
9 reasons why the EU’s bank is no climate leader
December 17, 2015
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
December 17, 2015
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.
9 reasons why the EU’s bank is no climate leader
December 8, 2015
The European Investment Bank’s track record stands in stark contrast to its pose as a hero in the fight against climate change.
The EU’s bank turns its back on Europe’s long term climate goals
October 8, 2015
It appears that before approving the European Investment Bank’s new climate strategy, the bank’s Board of Directors has removed a reference to the European Union’s long-term decarbonisation objectives as a guidance for the EIB’s climate action.
Slovenia and the Energy Union: clash in priorities, renewables as collateral damage
September 17, 2015
A leaked document, published here for the first time, that outlines the Slovenian government’s priorities for the EU’s Energy Union reveals a potential conflict with what the European Commission has on offer. Yet, neither promises ambitious strides towards more renewables.
CSOs key points for the forthcoming EIB climate policy
July 16, 2015
In this letter to EIB, civil society organisations point out that the EIB’s forthcoming climate policy cannot only be limited to repackaging previous climate commitments or solely focusing on technical incremental changes. In the framework of the new EU 2030 climate and energy targets and the forthcoming international climate conference in Paris, ambitious new policy commitments are indispensable to make the EIB credible.
South eastern European countries must take climate action or face hefty bills, says new report
March 10, 2015
Countries of the Energy Community risk wasting hundreds of millions of Euros on outdated energy infrastructure if they do not adopt policies to tackle climate change, finds a new report released today by CEE Bankwatch Network and partners in four countries across the region.
EIB Climate Action undermined by bank’s fossil fuel lending
February 11, 2015
Brussels — Ahead of a public consultation on the European Investment Bank’s Climate Action Programme tomorrow in Brussels, Bankwatch insists that, if the bank’s pro-climate efforts are to be effective, the EIB must give up its loans to fossil fuels and other climate-damaging sectors.
Eight things to give the EIB’s forthcoming climate policy meaning, purpose and ambition
February 2, 2015
The European Investment Bank, as the EU’s lending arm, needs a lending policy on climate protection which properly reflects the EU’s climate policies and legislation.
