The EU’s flagship investment scheme must not become backdoor for fossil fuel financing
October 7, 2019
A half trillion euro subsidies scheme and part of the so-called Juncker Plan, the European Fund for Strategic Investment (EFSI) has been portrayed by its promoters, the European Commission and the European Investment Bank as a major success story, albeit with little evidence to back such claims.
Too soon to call the “Juncker Plan” a success – new report
October 1, 2019
The EU’s next major investment scheme, succeeding the so-called Juncker Plan, is likely to be central to the ‘European Green Deal’ touted by European Commission President Ursula von der Leyen. But a report released today by watchdog NGOs Counter Balance and CEE Bankwatch Network finds the Juncker Plan has so far shown weaknesses in its transparency, sustainability, geographical concentration and additionality, and calls for improvements for its post-2020 phase.
European Fund for Strategic Investments (EFSI)
June 19, 2017
Tasked with stimulating the European economy, the new investment fund may just become an extention of the European Investment Bank’s normal lending with very limited additional (green) finance.
NGOs criticise the Juncker Plan’s green credentials
September 30, 2016
15% of Juncker Plan funding supports fossil fuel projects, according to a report by group of NGOs, which raises serious questions about the investment plan’s consistency with the EU’s climate objectives. EURACTIV France reports. Source: NGOs criticise
Juncker Investment Plan 2 and review of EU budget offer no progress towards Europe’s long-term climate goals
September 15, 2016
What should have been two significant contributions to Europe’s war chest in the fight against climate change will in fact leave the planet short-changed and open the door to even more polluting fossil fuel projects, argue campaigners at Bankwatch, Friends of the Earth Europe and Climate Action Network Europe.