Time for the EU’s bank to lead on the clean energy transition

As world finance paces up to adapt to the global fight against climate change, one main player is lagging behind: the European Investment Bank (EIB), the bank of the European Union. While the World Bank decided to stop financing upstream oil and gas extraction after 2019 and private groups such as Allianz or ING have […]

Read more

EIB 60th Anniversary: bank Governors called to act on key reforms in NGO open letter

For the 60 Anniversary of the European Investment Bank (EIB), a group of 21 European NGOs sent a letter to the Governors of the bank who are meeting in Luxembourg on 22 June 2018. This open letter highlight key challenges for the EIB in the context of the negotiations over the next EU budget and the […]

Read more

Uncertainty looms on the future of TAP, as EBRD envisages loan decision

By Elena Gerebizza, Re:Common After months of suspense and hesitations, the new Italian government is finally settled in Rome and didn’t wait long to fire out some first juicy declarations. Based on a “political contract” between the 5star Movement and the Northern League, the government’s patchwork agenda envisages to re-discuss planned big infrastructure projects – […]

Read more

European Ombudsman requests more lending transparency from European Investment Bank

Brussels, 24 May 2018 The European Ombudsman has asked the European Investment Bank (EIB) to increase transparency in its lending activities. A group of NGOs has welcomed the decision, published yesterday, but regrets the weak language used, which only makes suggestions and encourages the Bank to adopt certain levels of transparency. The decision was adopted […]

Read more

Controversial EIB-backed projects under fire at European Parliament

3 May 2018 Today, the European Parliament adopted a critical report on the activities of the financial arm of the EU – the European Investment Bank (EIB). This report reiterates previous calls for the bank to step up its sustainability, transparency and accountability. During the debate held in the plenary of the Parliament in Brussels, […]

Read more

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 […]

Read more

Public Infrastructure in Southeast Europe – in whose interest?

A group of 10 NGOs from 7 countries forming the “Balkan Monitoring Public Finances“ project published today a study and policy briefing examining trends in public infrastructure projects in southeast Europe, including the role of the EU and financing institutions. The study includes several case studies of controversial projects financed by the European Investment Bank […]

Read more

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 […]

Read more

EU’s Main Lender Still Tied to Tax Havens, Watchdog Warns

Originally published on Bloomberg BNA. April 4, 2018 By Joe Kirwin The European Investment Bank continues to provide loans for development projects that involve companies or financial groups that either use or are based in tax havens, according to a watchdog group. The European Commission blocked EIB projects worth more than $1 billion in 2016 […]

Read more

No more excuses: The EIB needs a responsible policy against tax abuses

Originally published on Euractiv. By Antonio Tricario and Xavier Sol Apr 3, 2018 The European Investment Bank is a public institution and supports projects in the name of EU policies. It is therefore high time for the EU bank to ask for more than what commercial banks do for the sake of justice and broader […]

Read more