Comments on the EBRD Draft Energy Sector Strategy
November 16, 2018
On 8 October the UN Intergovernmental Panel on Climate Change (IPCC) released its Special Report “Global Warming of 1.5oC”. The report warned that at the current level of climate commitments the world is on course for a disastrous 3 degrees Celsius of …
EBRD renewable investments finally matched its fossil fuel investments in 2017 – So why is the bank’s draft Energy Strategy still fixated with gas?
October 15, 2018
The European Bank for Reconstruction and Development has recently issued a new draft Energy Strategy for public consultation that will define its activities in the energy sector from 2019-2023. It clearly commits to halt all direct financing for coal p …
EBRD – still fixated on gas despite IPCC warnings
October 15, 2018
In its new draft strategy for the energy sector, meant to guide the bank’s lending between 2019-2023, the EBRD gives too much prominence to gas as a so-called “bridging fuel” on the way to decarbonisation – much more prominence than is given to energy savings and even to sustainable renewables.
European development money ‘helps sustain fossil fuel firms’
October 9, 2018
Five of Europe’s biggest climate offenders continue to enjoy billions of euros in public funds, according to a Bankwatch report Source: European development money ‘helps sustain fossil fuel firms’
European public funding for fossil fuel-dependent companies
September 27, 2018
CEE Bankwatch Network follows closely the EBRD’s ‘sister institutions’ and actively advocates for improvement of their lending policies. As the European Investment Bank (EIB) is expected to review its 2013 ‘Screening and Assessment Criteria for Energy …
Foto La battaglia per salvare i Balcani dalle dighe
September 14, 2018
Nei Balcani gli ultimi fiumi selvaggi d’Europa sono a rischio a causa dell’industria idroelettrica. Conseguenze ambientali importanti, ritorni economici dubbi e non a vantaggio delle comunità locali hanno dato vita a una campagna di denuncia internazio …
Energy doublethink: contradictions at the EU bank in combatting climate change
September 11, 2018
See the web-version of the report. This year the European Investment Bank is expected to review its 2013 ‘Screening and Assessment Criteria for Energy Projects’, also known as its Energy Lending Criteria, which governs the types of projects the bank ca …
EIB issues first Sustainability Awareness Bond as Bankwatch urges it to shift away from fossil fuels
September 7, 2018
Just as the European Investment Bank (EIB), heavily present in South-East Europe (SEE), issued its first, EUR 500 million Sustainability Awareness Bond, CEE Bankwatch Network, one of the largest networks of environmental civil society organizations (CS …
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 …
The EU’s house bank obstructs climate action with continued fossil fuels spending and lacking investment in sustainable energy – new report
September 6, 2018
Prague – A new Bankwatch analysis released today shows that in the years 2013-2017, the European Investment Bank (EIB) has invested EUR 18.4 billion in renewable energy projects in Europe and beyond, but at the same time handed out EUR 11.8 billion in EU public money to fossil fuels projects. The new report details a set of measures – including an unequivocal commitment to end support for fossil fuels – that can be introduced in the course of the upcoming review of the EIB’s energy strategy to ensure the world’s largest public lender facilitates the global effort to tackle the climate crisis, rather than hamper it.
