Answer to the European Commission’s reply regarding The Best Laid Plans
March 26, 2018
1. The EFSI regulation lists seven general objectives (sectors) open to funding: energy transport infrastructure and equipment research, development and innovation small, medium and small mid-cap companies information and telecommunication technology e …
The EU’s flagship project lacks climate assessment
March 16, 2018
While the EU portrays itself as a leader of the Paris Agreement, its financial arm – the European Investment Bank (EIB) – approves another loan to the controversial Southern Gas Corridor project without proper climate impact assessments.
Controversial Turkish-Azerbaijani gas pipeline gets major EU loan
March 15, 2018
Today the board of directors of the European Investment Bank (EIB) green-lighted a EUR 932 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the same project.
New study shutters EU claims on climate benefits from flagship energy project
January 30, 2018
The controversial Southern Gas Corridor, the EU’s flagship energy project, could be as emissions-intensive as coal power or even more, a new study reveals.
How Europe’s bank spends cash for climate undermines Paris commitments
May 22, 2017
An uneven investment strategy across the EU’s 28 Member States and a lack of added value by one of its main financial tools means that the EIB puts the EU at risk of not meeting its climate targets under the Paris Agreement, according to a new briefing from Counter Balance and CEE Bankwatch Network.
EU watchdog investigating European Investment Bank for maladministration
March 6, 2017
The European Investment Bank (EIB) is being investigated for maladministration, after the European Ombudsman sent a formal letter opening the case this week (27 February 2017).
The EU house bank is holding back Europe’s shift to sustainable energy
June 14, 2016
On the occasion of the EU Sustainable Energy Week, a new Bankwatch analysis shows that the European Investment Bank (EIB) has been effectively hindering Europe’s energy transition.
The European Investment Bank and climate action 2013-2015
May 23, 2016
The European Investment Bank’s lending for climate action between 2013 and 2015 shows that further structural changes are needed to align the bank’s portfolio with the objectives of the Paris agreement.
Do not fund Southern Gas Corridor with EU money
March 1, 2016
The flashbulbs at Azerbaijan’s official photo opportunities should not blind Europe’s leaders to the country’s accelerated descent into authoritarianism, writes Xavier Sol.
NGO open letter to EIB president: don’t finance the Southern Gas Corridor
January 28, 2016
In this letter, a group of 27 non-governmental organisations urge the President of the European Investment Bank not to finance the Southern Gas Corridor, a 3500 kilometres-long chain of gas pipelines from Azerbaijan to Europe. As the EIB considers granting the biggest loan of its history to the Consortium in charge of developing the western section of the project, the Trans-Adriatic Pipeline (TAP), the group of NGOs warns about its most controversial aspects.
