NEW VIDEO: The Southern Gas Corridor, a “Treachery of Images” for the EU’s future

As the European Investment Bank prepares to vote next Feb 6 on a € 1.5bn loan to the western leg of the gas mega-pipeline (the Trans Adriatic Pipeline – TAP), a new NGO video presents the blatant contradictions of this EU-sponsored project locking us in a fossil-fuel future What do Magritte’s famous painting from 1928 […]

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New EU External Investment Plan risks sidelining development objectives

29.11.2017 Brussels/Abidjan As EU leaders meet their African counterparts in Abidjan for the 5th European Union/African Union summit, the European External Investment Plan (EIP) is in the spotlight. It is portrayed as the perfect recipe for the EU to combine development aid with  migration control and economic interests. But such a plan risks deviating from […]

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“Nature destruction cannot be compensated for” say NGOs warning communities against biodiversity offsetting

Brussels/Rome, 26 October 2017 As the world’s forests, lands and waters keep being destroyed, the people whose livelihoods are deeply linked to these places cannot continue their way of life and are often pushed into poverty and hunger. At the same time, the very actors profiting from this destruction have found a way to come […]

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With a little help from the European Commission: TAP and the Southern Gas Corridor

by Elena Gerebizza, originally published by Re:Common Last week Baku hosted the 4th Southern Gas Corridor Advisory Council Meeting. The event saw the participation of representatives from the governments involved in the project, but also the European Commission Vice President Maroš Šefčovič, who in the last few months hasn’t missed a single chance to stress […]

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European Parliament criticizes the EIB for lack of action on climate and taxation

8 March 2018 Today, the European Parliament approved a critical report on the activities in the financial arm of the EU – the European Investment Bank (EIB). This report sends a strong signal to the bank: it needs to step up its sustainability, transparency and accountability. Yesterday, in a debate in the plenary of the […]

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The EIB gets an expanded mandate for its operations outside Europe

Press release: Counter Balance, CEE Bankwatch Network Brussels, 8 February 2018 The European Investment Bank (EIB) found itself in the spotlight during this week’s debates in the European Parliament. MEPs were called to give direction to the EU house bank’s development role through the amendment of its 2014-2020 external lending mandate. Today the European Parliament […]

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Controversial gas pipeline gets EUR 1.5 billion in public money amid massive climate risk

CEE Bankwatch Network, Counter Balance, Friends of the Earth Europe, 350.org 6 February 2018 Prague, Brussels The European Investment Bank (EIB) voted today to hand out one of Europe’s largest ever loans to one of the EU’s largest fossil fuel projects, the contentious Trans Adriatic Pipeline (TAP). The loan approval follows the release of a […]

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New study: ECAs go to market

Originally published by Bankwatch. Between 2015 and 2017, Finance & Trade Watch and Bankwatch, together with its national partners researched export credit agencies (ECAs) in seven countries of the European Union (Austria, Czech Republic, Croatia, Hungary, Poland, Romania and Slovakia). The aim of this research was to assess how the procedures and performance of these […]

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New briefing: Putting the EIB at the front of the clean energy transition

In a joint briefing sent to the Directors of the European Investment Bank (EIB), 14 environmental groups call on the EU bank to align its energy financing with the Paris Agreement. See the document here. In 2018, the European Investment Bank will review its Energy Lending Criteria, which offers the bank the opportunity to catch […]

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