Economic justice policy officer
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Change the lending, not the climate
December 2, 2009 | Read more
As this rigorous analysis of the European Investment Bank’s energy portfolio from 2002 until the end of 2008 reveals, the EIB continues to heavily support fossil fuels while its lending for renewable energy maintains a promising, if only rather steady, share – in spite of the clear evidence of the climate change challenge, and despite the challenge the EU’s targets pose for its member states, especially the new member states in the east.
Two Bankwatch groups and the members of the Cyanide Free Bulgaria coalition outlined today at a press conference in Sofia the ongoing problematic issues hanging over the proposed introduction of controversial cyanide leaching at the Chelopech mining project and with the Bulgarian government’s handling of the environmental procedures for wider use of cyanide in mining projects across the country.
The Center for Environmental Information and Education has lodged this formal complaint related to infringements of EU law associated with the Integrated Pollution Prevention and Control (IPPC) permitting process for the cyanide installation at phase 2 of the Chelopech project, being promoted by Canadian mining company Dundee Precious Metals that is seeking project finance from the European Bank for Reconstruction and Development (EBRD).
The EIB responded to our letter on December 22, 2009. Their response can be downloaded as pdf here.
