EU Lending Bank To End All Fossil Fuel Financing By 2020
July 27, 2019
After years of pressure from environmental campaigners, the European Investment Bank, the lending arm of the European Union, has proposed to end financing for all fossil fuels by 2020. It would be the first multilateral financial institution to make such a commitment.
EBRD tightens standards in response to Balkan hydropower boom
May 16, 2019
As a result of public resistance to small-scale hydropower projects in the Balkans, from the beginning of 2020, the EBRD will ask commercial banks to refer all high-risk projects – including all hydropower plants – for additional checks. The EBRD also requires them to meet higher environmental standards than previously. The bank will ask that such projects are disclosed to the public on the financial intermediary’s website, finally increasing disclosure on these hitherto hidden projects.
EIB Underestimated Climate Risks In Granting Loans To Southern Gas Corridor Projects -NGOs
February 7, 2019
Non-governmental organizations (NGOs) lodged a complaint on Thursday with the European Investment Bank (EIB), accusing the latter of failure to ensure a proper climate impact assessment when deciding on allocation of loans to two projects as parts of the Southern Gas Corridor (SGC)
EIB LOAN TO SGC ‘WRONG’: CIVIL SOCIETY GROUPS
February 7, 2019
The European bank used flawed methodology to downgrade the risk that the mega pipeline project would pose, both inherently through its operation, or through misconduct, they allege.
The complaints mechanism at the EIB – usable but useless?
October 8, 2018
Nearly three years after first announcing it, the European Investment Bank (EIB) has finally presented a new vision for the bank’s complaints mechanism, the body responsible for grievances related to EIB projects and policies.
Bankwatch: EIB Invested EUR 11.8bn in Fossil Fuels in the Years 2013-2
September 7, 2018
A newly released Bankwatch analysis shows that in the years 2013-2017 the European Investment Bank (EIB) invested EUR 18.4 billion in renewable energy projects in Europe and beyond. However, at the same time, it handed out EUR 11.8 billion in EU public
Revealed: EIB supporting major Israeli environmental offender
June 18, 2018
In the Israeli Environmental Protection Ministry’s annual ranking, Israel Chemicals has been topping the lists of corporate environmental offenders. For the EIB, the company has “sound environmental policy” which justifies a quarter of billion euros for supporting R&D of specialty chemicals. Ahead of the first anniversary of the Ashalim spill, which originated from an ICL subsidiary’s chemicals plant, a new Bankwatch analysis questions the EIB’s engagement with the company.
At 60, EU public bank needs fundamental reform – civil society groups
June 18, 2018
The European Investment Bank (EIB) needs to end its investment in fossil fuels and boost support for sustainable energy, reinforce its public accountability, and prioritise human rights, a group of 21 European NGOs write in a letter to EU finance ministers.
European Ombudsman requests more lending transparency from European Investment Bank
May 24, 2018
Brussels — The European Ombudsman has asked the European Investment Bank (EIB) to increase transparency in its lending activities.
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
