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Storebrand ditches fossil fuel assets in pursuit of 'long term, stable returns'

Source: James Murray, Business Green

Major victory for global divestment campaign as Nordic investment giant excludes 19 fossil fuel companies from its portfolio

The EBRD's silent shale gas coup in Tunisia

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.

Hedegaard urges development banks to divest from fossil fuels

Source: Arthur Neslen, EurActiv

Climate Commissioner Connie Hedegaard has called for development banks with a combined annual lending pot of €130 billion to end support for fossil fuels in their energy lending policy reviews.

The EU's bank is less ambitious than the US in restricting energy from coal

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It may have been easy in the past for Europeans to bash the US for being retrograde when it comes to climate policies, but after last week it will get more difficult to do that.


Complaint to EBRD highlights negative impact of mining on Mongolian herders

Ulaanbaatar, 04 July 2013. A group of Mongolian herders submitted today an official complaint to the Project Complaints Mechanism of the European Bank for Reconstruction and Development (EBRD), hoping to initiate a process of evaluation of the adverse impacts on their health and livelihoods of two mining projects financed by the international public lender.

EIB cleans up its energy lending policy

Source: Sonja van Renssen, Energypost.eu

The European Investment Bank (EIB) intends to place stricter CO2 emission standards on coal power plants that it finances, but not as strict as the standards president Obama recently proposed in the US. The EIB is also considering investing in shale gas projects, according to a draft of its new energy lending policy. NGOs accuse the EIB of a “missed opportunity to politically reject coal”. With the EBRD and World Bank also mulling new investment criteria, the battle to “green up” Big Energy Money is heating up.

Renaissance des Rußes

Source: Nils Klawitter, Der Spiegel

Article available upon request

[Campaign update] Kolubara landslide: Images of devastation, people waiting for compensation

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People in Junkovac (Serbia) are still waiting for information on how they will be compensated after a landslide connected to the Kolubara lignite mine has destroyed several houses and terrified the town one month ago.


EU budget: green jobs to be found amidst disappointing deal

Brussels, July 3, 2013 – Following today’s approval by the European Parliament of Europe’s €960 billion budget for 2014-2020, Bankwatch and Friends of the Earth Europe are calling on individual member states to make the most of a disappointing deal by respecting green spending commitments – thereby boosting green jobs and truly sustainable investments.

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