Tag Archives: EIB

Government resistance over ‘green’ investments

Originally published on ENDS Europe. Raquel Guerra, 14 Dec 2018 The introduction of binding EU rules on the disclosure of environmental, social and governance (ESG) considerations for financial benchmarks could face resistance from national governments, according to an Austrian Presidency working document. The ‘green’ financial benchmarks are intended to measure the environmental performance of investments […]

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COP24 diary – day #10: Coal bonanza at the EIB

Originally published on Euractiv. By Claire Stam, 12 Dec 2018 Is Europe serious about phasing out fossil fuels? While confirming its plans to align with the Paris Agreement, the European Investment Bank (EIB) continues to fund climate-damaging fossil fuel projects, having disbursed more than €11.8 billion in fossil fuel projects since 2013, Friends of the Earth Europe, Counter Balance […]

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NGOs urge EU bank to quit fossil fuels investments, as it touts its climate commitment at COP24

Brussels – Katowice – Prague, 11 December 2018 While confirming its plans to align with the Paris Agreement, the European Investment Bank (EIB) still continues to fund climate damaging fossil fuel projects, having disbursed more than EUR 11.8 billion in fossil fuels projects since 2013 – point out NGOs in a new briefing State delegations […]

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How the ‘EU’s Bank’ fails to raise the bar on accountability

Originally published on EU Observer. By Xavier Sol As the financial arm of the European Union, the European Investment Bank (EIB) likes to call itself the “EU Bank” and to publicly praise its environmental and social standards in comparison to other investment banks. Nevertheless, over the last years, a dangerous setback on accountability and transparency […]

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EIB to weaken accountability mechanism, despite civil society criticism

Brussels, 13 November 2018 In a step backwards for the EU bank’s transparency and accountability, the Board of Directors of the European Investment Bank (EIB) has approved a controversial new policy for its Complaints Mechanism, a move that will take the bank further away from the communities affected by its operations – say NGOs. The decision […]

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Can the EU bank afford a race to the bottom on accountability?

Originally published on Public Finance International. By Xavier Sol, 7 Nov 18 The European Investment Bank should take the opportunity to finally fix serious transparency and governance flaws as it looks to revamp its complaints mechanism, says Counter Balance’s Xavier Sol. Would a school teacher ask her pupils for their approval before grading their tests […]

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