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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New study shutters EU claims on climate benefits from flagship energy project

Originally published by Bankwatch. The controversial Southern Gas Corridor, the EU’s flagship energy project, could be as emissions-intensive as coal power or even more, a new study reveals. 30 January 2018 In less than two weeks the Trans Adriatic Pipeline (TAP), a key section of the Southern Gas Corridor, could be awarded a record EUR […]

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Civil society urges the EU Bank to lead on responsible taxation

On 12 January 2018, 13 NGOs and trade unions set a joint paper to the European Investment Bank (EIB) on its taxation policy. The signatories highlight that the revision of the EIB’s tax havens (NCJ) policy, foreseen in 2018, is a crucial opportunity to strengthen the tools the EIB uses to ensure its operations do […]

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New study challenges the infrastructure mega-corridors agenda

We live in an age of what might be termed “extreme infrastructure”, and “Mega-corridors” are its most visible manifestation. A new study by Counter Balance calls attention on this pervading global agenda and identifies the risks associated with it. While infrastructure corridors are not new, their expansion has now reached an unimagined extreme scale. New […]

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