Documents
CEE Bankwatch Network has worked with an external consultancy to conduct a rigorous analysis of the energy portfolio of the European Investment Bank from 2002 until the end of 2008. This was done in the context of the EU's climate and energy targets. As the EU's bank, the EIB is supposed to promote European objectives.In spite of the clear evidence of the climate change challenge, and despite the challenge the EU's targets pose for its member states - especially the new member states in the east - the analysis reveals that the EIB continues to heavily support fossil fuels while its lending for renewable energy maintains a promising, if only rather steady, share. The vast potential for energy efficiency (and also some renewables) in the countries of central and eastern Europe is not, however, being well served by EIB energy investments. Other than the clear implications for climate mitigation, EIB reluctance to date to channel billions into clean energy initiatives in this region is hindering not only energy security but also the creation of new jobs and economic prosperity.
Submitted by ifitv-admin on Wed, 2009-12-02 10:16.
As the EBRD prepares to develop a new sectoral policy on mining, this collection of case studies looks at the impacts on communities of the gold mining projects the bank has financed thus far. From a cyanide spill in Kumtor, Kyrgyzstan, to defective public participation procedures in Bulgaria and severe subsidence in Shahumyan, Armenia, the case studies graphically illustrate the need for much greater scrutiny of proposed gold mining projects if the EBRD is to bring real benefits for local communities.
Submitted by ifitv-admin on Fri, 2009-11-27 13:46.
November 20th., by Bretton Woods Project
With much awaited climate talks in Copenhagen in December, the World Bank and its supporters are positioning the institution to play a significant, if not dominant, role in future climate finance.
While interim UN climate negotiation meetings took place in Bangkok in October, senior Bank officials at the Bank's annual meetings in Istanbul emphasised that they would wait to see the outcome of the Copenhagen climate talks to decide what role the Bank would play.
However, in a panel discussion, Michele de Nevers, senior manager of the Bank's environment group, asserted that the institution is best placed to manage climate finance because of its ability to leverage funding and its strong fiduciary, procurement and safeguard policies.
Submitted by ifitv-admin on Mon, 2009-11-23 17:59.
November 19th., 2009 by BIC
In a speech titled “Building a Twenty-First Century Development Bank: New Challenges, New Priorities,” Chairman of the Senate Foreign Relations Committee John Kerry laid out his vision for the role of the US and the World Bank in tackling climate change, energy investment, and economic development.
Submitted by ifitv-admin on Fri, 2009-11-20 15:41.
11 November 2009 letter sent to IMF managing director Dominique Strauss-Kahn, urging him open up the process for producing a report on how banks can repay governments for the bailouts and demanding strong consideration of a financial transaction tax in the report.
Submitted by ifitv-admin on Mon, 2009-11-16 13:53.
by Dani Rodrick, November 11th, 2009
CAMBRIDGE – Why does the International Monetary Fund make it so hard for people like me to love it?
The IMF has said and done all the right things since the crisis. It has acted as quickly as any international bureaucracy can to establish new lines of credit for battered emerging-market countries. It revamped its loan conditions to fit the times. Under its capable managing director, Dominique Strauss-Kahn, and distinguished chief economist, Olivier Blanchard, it has been a voice for sanity on global fiscal stimulus in the midst of much cacophony. For an institution that seemed on the verge of irrelevance not too long ago, this is quite a transformation.
Submitted by ifitv-admin on Fri, 2009-11-13 17:37.
November 9th., by CEE Bankwatch and Client Earth
In parallel to a second round of consultations on the European Investment Bank’s Transparency Policy, Bankwatch together with the NGO Client Earth announced today the publication of a model transparency policy for the EIB that would set the bank on much more assured ground towards becoming an open and inclusive institution.
Submitted by ifitv-admin on Mon, 2009-11-09 17:43.
If the world fails to deliver a political agreement at the UN climate conference in December, it will be “the whole global democratic system not being able to deliver results in one of the defining challenges of our century”, says incoming COP15 president, Connie Hedegaard.
Submitted by ifitv-admin on Mon, 2009-11-09 16:55.
by Barbara Unmuessig
The World Bank is moving to become one of the major institutions taking on climate change through its Climate Investment Funds, among other policies. However, Heinrich Boell Foundation president Barbara Unmuessig believes that without reforms, the Bank will not be able to effectively or fairly alter the course on global warming.
Submitted by ifitv-admin on Mon, 2009-11-09 16:07.
ZIMBABWE, weighed down by a $5,7 billion debt, should not rush into adopting the Highly Indebted Countries Initiative but should instead pursue other strategies that could yield better results
Submitted by ifitv-admin on Tue, 2009-11-03 04:58.
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