Tag Archives: fossil fuels

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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Global Gas Lock-in. Bridge to nowhere

Originally published by Rosa Luxemburg Stiftung. Fossil gas is gaining ground and increasing in importance in the global energy scenario. There are numerous publications and studies evaluating the risk of fuels such as crude oil and coal, but in the case of gas it is more difficult to find critical analyses of the risks involved […]

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EU climate commitments gassed by toxic subsidies

Originally published on the CAN Europe website. European politicians may be talking up their climate action, but in reality the EU is still subsidising new gas infrastructure that will lock Europe into the fossil fuel age for decades. The gas projects are also associated with human rights violations, corruption, and environmental destruction. Gas is a […]

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Controversial Turkish-Azerbaijani gas pipeline gets major EU loan

15 March 2018 Prague, Brussels, Rome, London – Today the board of directors of the European Investment Bank (EIB) green-lighted a EUR 932 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the […]

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