Publications

The document summarises the goals on which, according to Bankwatch, a future EBRD mining sector strategy needs to be based if the EBRD wants to support sustainable development. It includes specific recommendations to help ensure that EBRD investments in the mining sector bring real benefits for communities, avoid environmental and social harm, reduce CO2 emissions and do not increase countries' dependence on commodities.

Bankwatch's examination of the EBRD's own data leads to three main conclusions:

1. EBRD lending for fossil fuel (coal, oil and gas) projects has risen rapidly, and more than tripled between 2008 and 2009.
2. There has been concerted EBRD lending for energy efficiency projects - a welcome development.
3. Lending for renewable energy is increasing but remains at a low level.

Our comments highlight the EBRD's draft strategy's lack of a clear analysis of social and environmental development outcomes that the EBRD seeks to achieve over the strategy period and the concrete impacts on peoples lives that are expected. Specific sectors covered in our comments are the financial and energy sectors, as well as transport and municipal and environmental infrastructure (MEI).

In this issue: A sustainable EU budget – it's time to cut the crap * Khimki forest reprieve brings no cessation of underhand tactics * EU funds flows for smart flood prevention can save billions and lives * Rip it up and almost start again – New EU funds priorities for Hungary * EU funds for Latvia's environment up in smoke * Conference - The private sector turn: Private equity, financial intermediaries and what they mean for development (November 22, London) * EBRD financial sector strategy revision reveals few lessons learned from crisis * Energy and transport failings in the east – a challe

The European Commission (EC) has recently invited inputs to its consultation on an initiative on concessions that aims to improve the rules for concession contracts in the EU. PPP advocates insist on their cost-effectiveness, timely completion rates and the sharing of financial risk - yet so far the evidence for these claims is decidedly mixed. In our comments we call for a thorough and independent assessment of the performance of PPPs so far and their financial and social impact.