Publications

Given the seriousness of the upcoming consultation meeting on the EBRD's energy lending policy in Belgrade (September 4) and the concern that this should be more than a pro forma exercise, a range of organisations are asking the EBRD in this letter to show genuine commitment to dialogue.

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.

“Community energy projects” are energy projects providing for direct benefits to a group of local shareholders. The opportunity for residents to develop and own green energy infrastructure or to jointly leverage untapped energy saving potential, represents a range of economic and social opportunities such as job creation, business opportunities, lowering energy bills and acceptance of sustainable energy production.

The EU’s global leadership on climate change is set to take another blow if the European Investment Bank, the EU house bank and one of the world’s largest public lenders, adopts a future energy lending policy as presented yesterday to the public. The draft policy includes weaker standards for lending to coal plants than currently proposed in both the US and Canada.

This letter, signed by 38 organisations, urges the European Parliament and the Council of Europe and other European bodies to use their political and financial leverage to ensure that the European Commission does not go ahead with a loan for Ukraine's nuclear reactors until Ukraine resolves the issues regarding its non-compliance with the UN Espoo Convention (more background in this press release.

In March 2013 the Implementation Committee under the UN Espoo Convention ruled that Ukraine's expansion of the lifetime of its old nuclear reactors is in breach of the Convention (more details in our press release). Nevertheless the European Commission plans to decide on a EURATOM loan for the project.