Publications

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are public development banks, which should lend money only for environmentally sustainable projects. Yet in reality, while both banks are increasing their investments into energy efficiency and renewable energy, they are undermining this by financing coal and other fossil fuels. Since both banks are adopting new energy policies in 2013 now is the time to act.

The partnership principle is one of the main principles of Cohesion Policy. Even though still under negotiation it is foreseeable that the new legislation for Cohesion Policy 2014-2020 will enshrine substantial progress in further establishing the partnership principle, i.e. providing for a comprehensive involvement of EU Cohesion Policy stakeholders into planning, implementation, monitoring and evaluation of EU funds’ investments. This document aims to present the divergence between the agreed principles of the partnership and current experiences in central and eastern European countries.

The letter, signed by 39 organisations, outlines ongoing concerns about the Oyu Tolgoi copper and gold mine in Mongolia, which is currently under consideration for financing by the European Bank for Reconstruction and Development. The project, one of the largest and most complex infrastructure investments proposed by the EBRD, poses a significant environmental and social risk to the local communities, as well as to the country at large.

Environmental NGOs are alarmed that a new own initiative report on Cohesion Policy and energy might be considered sufficient by some REGI MEPs to consider that the rejection of fossil fuels subsidies in ERDF is put into question – overruling the clear REGI mandate voted in July 2012. To ensure consistency, the REI MEPs should maintain the REGI mandate as it is and oppose any fossil fuel subsidies in ERDF.

Quote from the WWF comments: "The EIB’s objective should support the EU’s 2050 decarbonisation goal. An EIB substantively revised energy lending policy should precludes investment in assets that lock‐in high carbon emissions and instead focuses on delivering a European zero‐emission energy system by 2050."