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Goosebumps: a tale of tax evasion, public money and a poultry giant

A new report published today by SOMO, the Dutch Center for Research on Multinational Corporations, sheds light on a disturbing story: loans from public banks benefitting Myronivsky Hliboproduct (MHP), Ukraine’s largest agribusiness and one of Europe’s largest poultry producers, despite the company large-scale avoidance of millions of dollars in taxes. MHP has been receiving massive […]

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The EIB flying in the face of climate breakdown

As our recent report “The ‘EU Climate Bank’ – Greenwashing or a banking revolution?”,  demonstrates, the promises to align with the goals of the Paris Agreement and the planned ban on fossil fuels are not the end of the road for the EIB. Indeed, the EIB is still a long way from becoming the “EU […]

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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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Is banking on nature a solution? The risks of the financialisation of nature

This week’s blogpost, which builds on a chapter of our recent report “The ‘EU Climate Bank’ – Greenwashing or a banking revolution?”, looks into the risks associated with green finance and nature-based solutions. With the EIB likely to be a pioneer in this field as part of its commitments on climate and the protection of […]

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Counter Balance submits its contribution to the EIB Climate Bank Roadmap

As part of the consultation opened by the EIB, we submitted our recommendations for the bank to truly become the “EU Climate Bank”. Find our submission and summary of our key demands here.

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British managers of EIB-funded Kenyan firm accused of fraud, bribery and “highly questionable business practices”

The European Investment Bank was warned by whistle blowers in 2015 of the alleged corruption and mismanagement by Spencon’s ECP Africa-appointed managers.

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Vacancy: Consultant for funders scoping

Counter Balance and Bretton Woods Project are looking for a consultant to undertake a funders scoping for our organisations. We’re looking forward to receiving your proposals! You can find the consultancy offer here. Deadline: April 10, 20:00 CET.

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Reality check: On the European Investment Bank’s willingness to fight fraud

Guest article by Dr. Daniel Beizsley (freelance researcher focusing on corporate crime and organisational malpractice) Over the last few months European Investment Bank (EIB) officials from the bank’s anti-fraud division have published 2 posts on the popular FCPA blog outlining steps the bank takes to prevent prohibited conduct in its operations and on its retroactive […]

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Major gas projects in Romania enabled by regulatory acrobatics

At a time when public calls for tackling the causes of the climate crisis are growing, Romania’s gas industry has been expanding, courtesy of the Parliament and international financial institutions. A new report released today by the environmental group Bankwatch Romania finds that much of the burgeoning gas development in Romania over the past two […]

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Decision on a fossil fuels ban at the EIB postponed once more

Today the European Investment Bank (EIB) decided to again, postpone the long overdue adoption of a new Energy Lending Policy. This delay is mostly due to tensions around the EIB’s proposal to phase out lending to fossil fuels. Several shareholders, including Germany, and the European Commission are pushing back on what would be a precedent […]

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