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Investing in mega-corridors: a development model at odds with the Paris Agreement

In recent years Counter Balance has explored the new wave of large-scale infrastructure projects financed all over the world in an attempt to understand the main drivers behind the “global infrastructure agenda”. International Financial Institutions like the EIB are a key driving force behind this trend. This blogpost builds on a chapter of our recent report “The ‘EU Climate Bank’ – Greenwashing or a banking revolution?” to highlight why this agenda is not at all compatible with the Paris Agreement.

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The European Investment Bank must not ditch its commitment to the climate

We call on the bank to face the future and become a more sustainable, transparent and accountable institution.

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Parliamentary hearing: The role of the EIB in the aftermath of the COVID-crisis

On May 26, 2020 the European Parliament Committees on Budget and on Economy organised a hearing on the role of the European Investment Bank (EIB) in the response to the COVID-19 crisis. Counter Balance was invited to join the hearing. Our Director, Xavier Sol, took the floor to explain what we believe should be the […]

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The Road Less Travelled: How the European Investment Bank’s Climate Roadmap 2021-2025 can lead it to become the climate bank

This report by CEE Bankwatch summarises the EIB’s undertakings on the road towards becoming the EU’s Climate Bank. It presents our findings on the implementation of the EIB’s 2015 Climate Strategy and looks at the results of the Bank’s climate action in the EU and enlargement countries. It also puts forward recommendations to the Bank. […]

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EIB Roundtable Report: State of Play and Future Challenges

DOWNLOAD THE FULL REPORT BELOW This summary report of this roundtable is provided by the organizer Counter Balance. The opinions ex-pressed in this report are those of the authors and do not necessarily reflect the views of all participants in the roundtable. On March 3rd, 2020, 65 participants joined the roundtable on the State of […]

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NGOs call on EIB to halt fossil gas projects now!

On February 25, a coalition of international CSO’s sent a joint letter to Werner Hoyer, President of the EIB. The letter, sent by Counter Balance and 12 other international CSO’s, clarifies to the President the major risk factors involved in the recently approved Energy Lending Policy. These loopholes could undermine the ELP as a whole. […]

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13 NGO’s urge EIB not to invest in Nice airport

Today, together with 13 NGO’s we sent a letter to the European Investment Bank (EIB) asking them not to support the expansion of the airport in Nice. This project is completely opposite to what the EIB is aiming to become, namely the EU Climate Bank. The original letter is in French, here is a short […]

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NGO’s urge EIB to raise the bar on climate

In the run-up to the EIB Board Seminar, an event where the European Investment Bank and its Directors meet with civil society organisations, a coalition of international NGOs – coordinated by Counter Balance – sent a statement to the EIB urging the bank to take firm action in the fight against climate change. From adopting […]

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New Report: Turning forests into hotels – The true cost of biodiversity offsetting in Uganda

The continuation of the extractivist model requires tools that allow to circumvent the law and to make possible what was previously unimaginable. A biodiversity offset project in Uganda has enabled the World Bank to turn a forest into a luxury resort. While international tourism groups are cashing in, local communities are being pushed off their […]

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Rebuilding the world: the hubris behind the global infrastructure agenda

Originally published on OpenDemocracy By Xavier Sol Infrastructure is not just about bricks and mortar. It is about systematic wealth extraction from local communities, whose territories are permanently reshaped in the name of capital accumulation. This article is part of a series by openDemocracy and the Bretton Woods Project on the crisis of multilateralism. The […]

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