Tag Archives: energy

European Parliament takes incoherent steps on climate in future EU investments

Strasbourg / Brussels, 13 December 2018 As governments discuss how to implement the Paris Climate Agreement at the COP24 in Katowice, today the Budget and Economic Affairs committees of the European Parliament failed to prevent further public investments in fossil fuels under InvestEU, the EU’s financing tool to attract private investments – say NGOs group […]

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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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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 EIB obstructs climate action with continued fossil fuels spending and lacks investment in sustainable energy – 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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