EU Watchdog Radio: Episode 1

February 12, 2020  EU Watchdog Radio is a new podcast hosted jointly by two Brussels based organisations Counter Balance (CB) and Corporate Europe Observatory (CEO). In the very first episode Xavier Sol of Counter Balance discusses how the European Union is planning to finance the Green Deal and the role played by the transformation of […]

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Green Deal vs fossil gas: Supporting Croatia LNG, a case of EU hypocrisy

The new decade just started with the approval of the European Green Deal and its €1 trillion plan to finance the transition to a low-carbon economy in Europe during the next ten years. It’s a historic step that follows the approval of an ambitious policy at the European Investment Bank (EIB) just a few months […]

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EVENT: Roundtable on EIB

On March 3rd, Counter Balance is organising a high level roundtable discussion on the European Investment Bank and the current state of play, as well as the future challenges. Register by clicking here, or by clicking the invitation below.

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Heating up – The negative impact of development banks supporting geothermal industry in Kenya

Guest article by Lotte Hughes (Independent scholar and historian of Kenya) “My feeling is like this is the end of the world, it is the end of us. Only a rich man can survive here.” Fatuma Hitler, 53-year-old Samburu woman, RAPland village, Kenya Geothermal energy is widely touted as green, clean, and good news for […]

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NGO’s urge EIB to raise the bar on climate

In the run-up to the EIB Board Seminar, an event where the European Investment Bank and its Directors meet with civil society organisations, a coalition of international NGOs – coordinated by Counter Balance – sent a statement to the EIB urging the bank to take firm action in the fight against climate change. From adopting […]

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Special Economic Zones: Opportunities or business as usual?

Special Economic Zones (SEZ) could at first glance seem like a good idea. However, they’re often accompanied by the exploitation of labour, extreme performance pressure on workers due to a principle of “just in time”-delivery and the enrichment of large companies while workers struggle to make ends meet. Together with Re:Common we dive deep in […]

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EIB Energy Lending Policy: Stepping closer to a fossil free finance

On November 17, 2019 the European Investment Bank (EIB) announced its new Energy Lending Policy (ELP) and proclaimed it will become the EU #Climate Bank. Sounds great at first glance, but what’s next?  From avoiding a 2 year gas bonanza to making sure we put our money where our mouth is, there are a few key […]

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Reality check: On the European Investment Bank’s willingness to fight fraud

Guest article by Dr. Daniel Beizsley (freelance researcher focusing on corporate crime and organisational malpractice) Over the last few months European Investment Bank (EIB) officials from the bank’s anti-fraud division have published 2 posts on the popular FCPA blog outlining steps the bank takes to prevent prohibited conduct in its operations and on its retroactive […]

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High time for EU bank to better tackle fraud and corruption in its investments

Last week, dramatic news came from Italy: a state of emergency had to be declared in Venice following dramatic floods – the city was engulfed by 1.87m high water levels. One question now very much on the minds of those affected is why a much-vaunted multi-billion dollar flood protection scheme, known as the MOSE project, […]

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EIB

New investigation reveals how the EU’s Bank fails to tackle fraud and corruption in its investments

19 November 2019 Investments made by the European Investment Bank are wide open to abuse by fraudsters, money-launders and corrupt politicians, according to a damming new investigation by Counter Balance. Although, on paper, the Bank has controls in place to reduce the risk of fraud and corruption, the Bank’s policies are poorly policed and full […]

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World’s largest multilateral bank ends fossil fuels financing

14 November 2019 Brussels, Prague — Bankwatch, Counter Balance and a growing number of civil society groups have long been calling on the European Investment Bank (EIB), the EU’s house bank, to recognise the urgency of stemming the climate crisis and stop handing out public money to fossil fuel projects. Today, November 14, the bank’s […]

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Major gas projects in Romania enabled by regulatory acrobatics

At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions. A new report released today by the environmental group Bankwatch Romania finds that much of the burgeoning gas development in Romania over the past two […]

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Decision on a fossil fuels ban at the EIB postponed once more

Today the European Investment Bank (EIB) decided to again, postpone the long overdue adoption of a new Energy Lending Policy. This delay is mostly due to tensions around the EIB’s proposal to phase out lending to fossil fuels. Several shareholders, including Germany, and the European Commission are pushing back on what would be a precedent […]

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