Southern Mediterranean

Pressure builds on EBRD to quit coal lending

September 4, 2013

The European Bank for Reconstruction and Development lags behind other major international financial institutions that are moving away from supporting dirty energy projects.

Institution: EBRD

Theme: Energy & climate

Tags: energypolicy, Balkans, Baltics, Caucasus, CEE, Central Asia, Southern Mediterranean

Tell the EBRD to divest from fossil fuels!

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Institution: EBRD

Theme: Energy & climate

Tags: Balkans, Caucasus, CEE, Central Asia, EU, EU neighbourhood, Southern Mediterranean

Policy briefing: New draft energy (read oil, gas and coal) strategy at the EBRD

Briefing | July 24, 2013

The EBRD’s draft energy strategy doesn’t have a climate target. It recognizes the urgency of climate action and the fact that the energy sector is the largest greenhouse gas emitter and places energy efficiency and renewable energy at the core of the transition to low carbon economies. The low carbon transition appears to be a central theme of the draft strategy but when it comes to the fossil fuels sector, it only translates into a potential slight reduction in coal investments.

Institution: EBRD

Theme: Energy & climate

The EBRD plans more climate damaging loans in new energy policy draft

July 22, 2013

London – The European Bank for Reconstruction and Development (EBRD) published July 19 a draft (pdf) of its future energy policy. According to CEE Bankwatch Network, although the bank correctly depicts the urgency of transitioning towards low-carbon economies, it falls short when it comes to commitments: lending to fossil fuels is envisaged to continue, including for coal, the dirties of fossil fuels; and promises to support renewables and energy efficiency, though welcome, are not accompanied by persuasive benchmarks and timelines.

Institution: EBRD

Theme: Energy & climate

Tags: coal, energy, energypolicy, fossil fuels, Balkans, Caucasus, CEE, Central Asia, EU, EU neighbourhood, Southern Mediterranean

The EBRD's silent shale gas coup in Tunisia

July 8, 2013

Tunis -- On 9 July the European Bank of Reconstruction and Development will decide on a USD 60 million loan to Serinus Energy for a project to develop four oil and gas fields in Tunisia, which is also likely to include drilling for shale gas. Twenty groups in Tunisia and Europe are calling on the EBRD to reject the loan or at least postpone the decision until further studies are prepared.

Institution: EBRD

Theme: Energy & climate, Social & economic impacts, Other harmful projects

Tags: shale gas, EU neighbourhood, Southern Mediterranean

NGO's protest letter: Proper impact assessments must be minimum condition for EBRD loan involving "fracking" in Tunisia

Advocacy letter | July 2, 2013

A USD 60 million loan to Serinus Energy for a project that involves hydraulic fracturing ("fracking") concessions in Tunisia is being currently considered by the EBRD. In this letter, Tunisian and European organisations urge the EBRD to reject the loan at the next Board meeting or to postpone the decision and undertake proper assessment of its impacts with in-depth consultations of the stakeholders.

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

Little impact of EU aid for Egypt - Ongoing abuses and Brussels scrutiny puts EBRD's best laid plans in question

How is the European Bank for Reconstruction and Development able to justify a brand new host country agreement with Egypt, given the abuses still being endured in Egypt and the failure of one billion euros of EU money to improve the economic and human rights situation there?

Tags: aid development EBRD Egypt energy financial intermediaries human rights Mursi oil tax havens EU neighbourhood Southern Mediterranean

Institution: EBRD

Theme: Energy & climate, Social & economic impacts

The G8, tax havens and the need to clean up our own "bank yard"

While the G8 leaders claim they are at war with tax avoidance, their own bank, the European Bank for Reconstruction and Development is involved in deals linked to offshore financial centres.

Tags: development EBRD G8 policy private equity summit tax havens Caucasus Central Asia EU EU neighbourhood Southern Mediterranean

Institution: EBRD

Theme: Social & economic impacts

NGOs against European bank's plan to fund Egypt's oil drilling project

May 28, 2013

Source: , al bawaba

They urged the EBRD “to reject the loan, or at least postpone its decision”

A group of NGOs have announced their opposition to a proposed loan from the European Bank for Reconstruction and Development (EBRD) to fund oil drilling projects in Egypt.

The EBRD is expected to decide on Wednesday whether or not it will provide a $40m loan to Kuwait Energy, according to a statement published by a coalition of NGOs including the Egyptian Centre for Economic and Social Rights, the Egyptian Initiative for Personal Rights and European groups CEE Bankwatch and Platform.

Institution: EBRD

Theme: Energy & climate

Tags: Southern Mediterranean