Tag Archives: featured

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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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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The EIB needs to lead by example on tax justice, says new report

Brussels, 3 April 2018 On the second anniversary of the Panama Papers and in the wake of the European Commission’s latest communication on EU anti-tax avoidance requirements on financing and investment operations, a new report by Counter Balance calls on the European Investment Bank (EIB) to develop a responsible policy and “show the way“ in […]

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Major European loan to controversial Azerbaijani gas pipeline risks fuelling corruption, human rights abuse and climate change

October 18, 2017 Prague, Brussels A USD 500 million loan approved today by the European Bank for Reconstruction and Development (EBRD) for the construction of the Trans Anatolian Pipeline (TANAP) would enable this massive fossil fuels project while overlooking the continued repression of civil society and media in both Azerbaijan and Turkey. Traversing Turkey, from […]

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25 NGOs call for an independent and efficient Complaints Mechanism at the EIB

Brussels, 29/9/2017 Today, a group of 25 Civil Society Organisations provided comments on the draft Policy and Procedures for the Complaints Mechanism (CM) of the European Investment Bank currently undergoing public consultation. The signatories – a variety of groups based in Europe, the US and the Global South – call for fundamental reforms to the […]

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Why Europe must turn off the gas TAP – NGOs, academics & artists sign against the pipeline

Dear Maroš Šefčovič, Vice-President of the European Commission for the Energy Union. Werner Hoyer, President of the European Investment Bank, and Suma Chakrabarti President of the European Bank for Reconstruction and Development. We call on the European Commission to withdraw support for the 878 kilometre long Trans Adriatic Pipeline (TAP), and on taxpayer-funded banks to […]

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