EPS: What does ‘restructuring’ mean?
Publisher: CEE Bankwatch Network
Volume: 10 pages, pdf
Description:
Serbia’s national electricity company (EPS) – despite its long-standing relationship with the EBRD, and despite Serbia‘s obligation to align its legislation to the EU’s environmental, competition, human rights and climate policies – does not plan to reduce greenhouse gas emissions, to change the structure of its electricity mix in favour of renewables, or to respect human rights. Quite the opposite: judging from EPS’s mining plans, it intends to increase GHG emissions through the increased production of lignite, which will result in continued and harsher than ever negative impacts on local communities, violating their rights to a safe and clean environment and the enjoyment of their properties. At the same time, EPS has systematically exercised its manipulative power over both the institutional and legal frameworks of Serbia to reduce its costs of operating by transferring the burden to all the citizens of Serbia and especially the local communities surrounding its mining operation.