EU Ombudsman launches investigation into financing of Europe’s largest fossil fuels project
December 17, 2020
The European Investment Bank (EIB) has dangerously downplayed the contribution of the controversial Southern Gas Corridor to the unfolding climate crisis, according to a complaint that prompted the European Ombudsman to open a formal inquiry.
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)
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.
Between TAP and a hard place – Albanian farmers receive peanuts after losing land and livelihoods to gas pipeline
November 30, 2017
Interviews in Albania revealed a barrage of complaints about how the Trans-Adriatic Pipeline has been treating farmers affected by the mega gas project that may soon receive a record loan from the European Investment Bank.
Land lost but not forgotten
November 30, 2017
Impacts of the Trans-Adriatic Pipeline on the land and livelihoods of farmers in Albania In May 2017, Bankwatch, together with the Albanian Helsinki Committee undertook a mission along the corridor of the Trans-Adriatic Pipeline in Albania to talk to p
The great gas lock-in – industry lobbying is behind the EU push for new gas infrastructure
October 31, 2017
A new report from Corporate Europe Observatory shows why the fire-power of the gas industry makes it a powerful and effective lobbying force in Brussels and national capitals. Meanwhile, public interest groups have a fraction of the resources and access.
Azerbaijan’s Laundromat scandal raises concerns over the EU’s growing business ties with the authoritarian regime
September 6, 2017
Revelations about the Azerbaijani Laundromat corruption scheme raise serious concerns over the EU’s intensifying relationship with the government in Baku and its readiness to turn a blind eye to the country’s human rights abuses and offer loans of millions of euros to a massive gas infrastructure project that would fill the pockets of the Azerbaijani corrupted elite.
EU urged to honour Paris Agreement, withdraw support for gas mega-pipeline
July 3, 2017
In an open letter released today, climate scientists, indigenous leaders, environmental and social justice groups, actors and artists call on the European Union to immediately withdraw its support for a gas mega-pipeline that would ‘destroy Europe’s climate targets’.
Italian communities block pipeline works to save ancient olive trees
March 23, 2017
An ancient olive grove in southern Italy is currently on the frontlines of grassroots resistance to the Southern Gas Corridor project, the EU’s flagship energy project.
