EBRD and EIB: Stop financing coal!
Publisher: CEE Bankwatch Network
Volume: 2 pages, pdf
Description:
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. Both the EIB and EBRD are adopting new energy policies in 2013 and we need to send them a strong message that public development banks must stop financing fossil fuels and concentrate their limited resources on the transformation to an energy-efficient, new renewables-based economy.