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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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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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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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Trading away the EU principles in the name of national export interests?

Originally published on Euractiv. By Antonio Tricarico, 20 Nov 2018 MEPs need to follow the lead of the European Ombudsman and force the European Commission to shine the light on the opaque role of national Export Credit Agencies, writes Antonio Tricarico. Antonio Tricarico is programme director of Re:Common, Italy, the NGO coalition monitoring public finance institutions Perhaps […]

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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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