Economic justice policy officer
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The many faces of coal subsidies. A glance at Romania.
May 29, 2012 | Read more
The case of two Enel investments in Romania illustrates how subsidies for coal power can be ambiguous, but provide very concrete disincentives for investments in renewable energy.
In preparation to its extended lending to Arab Spring countries, the EBRD is conducting consultations with civil society. Yet the bank doesn’t seem to make an appropriate effort.
Revealed: EBRD climate crimes rising
May 17, 2012 | Read more
EBRD efforts to clean up its energy lending in central and eastern Europe are being undermined by extensive fossil fuel investments, with astonishing increases in the EBRD’s backing for coal and oil projects in 2011.
London – Almost half of the 6.7 billion euros lent by the European Bank for Reconstruction and Development (EBRD) between 2006-2011 goes to support for fossil fuels, according to a report issued today by CEE Bankwatch Network. Support for coal, oil and gas must be discontinued altogether, argues Bankwatch, if the bank’s commendable efforts on increasing financing for renewables and energy efficiency are to have a positive impact in the global fight against climate change.
Our study shows that almost half of the 6.7 billion euros lent by the European Bank for Reconstruction and Development (EBRD) between 2006-2011 goes to support for fossil fuels. This will prevent the bank’s commendable efforts to increase lending to new renewables and energy efficiency from actually making a difference in the global fight against climate change.
