Tag Archives: climate change

European public banks drive climate change instead of reversing it

’Assessing the amount of ‘unburnable carbon’ embedded in international financial institution portfolios’, a study prepared by the Bretton Woods Project found that: Multilateral Development Banks (MDBs) [1] have $20 billion of active investments in fossil fuel projects with a carbon potential of the equivalent of 29.3GtCO2 (gigatons of carbon dioxide). The carbon potential of the […]

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Letter – Opportunities and expectations towards the EIB climate policy review

The EIB has announced it will review its climate policy. We believe this is a welcomed step if it will meet Europe’s ambitious climate policy objectives and it decarbonisation agenda. In this letter which is c0-signed by urgewald, E3G, Climate Bonds and Bankwatch we outline what we believe it will take to achieve these objectives. […]

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Extractive Energy: How the EU ETS exacerbates climate change

Our colleagues from Carbon Trade Watch have recently published this report questioning the EU’s dependency on fossil fuels and the role of the EU ETS. Energy in the EU is dominated by fossil fuels. About 77% of energy used by the average European citizen is met by oil, gas and coal. Nuclear power provides an […]

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The EIB loan to BNDES: Learning lessons for the next external mandate of the Bank

In a previous article, Counter Balance raised awareness about a loan of 500 million Euros from the European Investment Bank to the Brazilian development bank BNDES and the uncertainties related to it. We have now gathered more precisions about the status of this loan – not a single euro has been spent – and the […]

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