If the EBRD does not lead the energy transition, we will have to do it ourselves
December 18, 2018
In the middle of last week, negotiators in this year’s UN climate summit in Katowice, Poland, were scrambling to agree on guidelines for the Paris Agreement that would ensure global warming is capped at no more than 2 degrees. At the same time, the European Bank for Reconstruction and Development (EBRD), one of the world’s key development banks, adopted a new energy lending strategy that ends its support for coal but keeps the door wide open for gas. Ioana Ciuta of CEE Bankwatch Network takes a closer look.
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
Du gaz azéri pour l’Europe
April 17, 2018
L’indépendance énergétique de l’Europe. Tout un programme, et en ces temps de tension extrême avec Moscou, tout projet qui vise à réduire notre dépendance au gaz russe est plus que bienvenu. C’est le cas du Corridor gazier sud-européen, 3 500 km de tuy
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.
Leaving Paris, the European Investment Bank steps on the gas
February 12, 2018
Distancing itself from the EU’s climate commitments enshrined in the Paris Agreement, the European Investment Bank has effectively taken a U-turn in its energy lending last week when it approved a record loan for the Trans Adriatic Pipeline.
EUR 1.5 billion public loan for controversial pipeline withheld
December 12, 2017
Today, at a board meeting in Luxembourg the European Investment Bank has decided, for now, to postpone loaning 1.5 billion euros to the controversial Trans-Adriatic Pipeline.
Gas lending at the European Investment Bank 2013-2016
December 12, 2017
Since the European Investment Bank (EIB) revised its energy lending criteria in 2012, it has limited its support for fossil fuels projects in the energy sector and eliminated the most polluting power plants from its portfolio. However, the bank’s contr
More billions for fossil fuels overshadows European development bank’s climate pledges
December 11, 2017
Despite commitments to help address the climate crisis, the European Bank for Reconstruction and Development awarded fossil fuel projects EUR 4.05 billion between 2010 and 2016 – more than double its support for renewable energy during the same period.
