Tag Archives: energy

European development money helps sustain fossil fuels-based companies – report

Originally published on bankwatch.org. Five of Europe’s biggest climate offenders continue to enjoy billions of euros in public funds, according to a Bankwatch report released today. 27 September 2018 The full report is available here. The companies – Energa and Grupa Azoty (Poland), ČEZ (Czech Republic), Elektroprivreda Srbije (Serbia), and Bulgarian Energy Holding (Bulgaria) – […]

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The EU’s house bank obstructs climate action with continued fossil fuels spending and lacking investment in sustainable energy – new report

Originally published on Bankwatch.org Prague – A new Bankwatch analysis released today shows that in the years 2013-2017, the European Investment Bank (EIB) has invested EUR 18.4 billion in renewable energy projects in Europe and beyond, but at the same time handed out EUR 11.8 billion in EU public money to fossil fuels projects. The new […]

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A ”facelift” to the EIB: the EU financial arm needs forward-looking reforms

Originally published on Euractiv. By Xavier Sol | Counter Balance The European Investment Bank (EIB) celebrates this year its 60th anniversary. But the bank, founded in 1958, should now look forward and commit to becoming a more sustainable, accountable and transparent institution, writes Xavier Sol. This opinion piece refers to an open letter written by […]

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Time for the EU’s bank to lead on the clean energy transition

As world finance paces up to adapt to the global fight against climate change, one main player is lagging behind: the European Investment Bank (EIB), the bank of the European Union. While the World Bank decided to stop financing upstream oil and gas extraction after 2019 and private groups such as Allianz or ING have […]

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EIB 60th Anniversary: bank Governors called to act on key reforms in NGO open letter

For the 60 Anniversary of the European Investment Bank (EIB), a group of 21 European NGOs sent a letter to the Governors of the bank who are meeting in Luxembourg on 22 June 2018. This open letter highlight key challenges for the EIB in the context of the negotiations over the next EU budget and the […]

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Uncertainty looms on the future of TAP, as EBRD envisages loan decision

By Elena Gerebizza, Re:Common After months of suspense and hesitations, the new Italian government is finally settled in Rome and didn’t wait long to fire out some first juicy declarations. Based on a “political contract” between the 5star Movement and the Northern League, the government’s patchwork agenda envisages to re-discuss planned big infrastructure projects – […]

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