A paper pulp factory in the Atlantic Rainforest of Brazil and a hydro power dam in the source of the Nile in Uganda, don't seem to have much in common. Nevertheless, both projects are financed by the European Investment Bank (EIB) and both have a significant impact on the environment of the poor local population.

Friday 20 November 2009 - 17h30 - 19h30 - Het Nutshuis - The Hague.
A new global climate treaty, which aims to counteract further global warming, is set for December. The European Union is said to have great ambitions for this climate summit in Copenhagen. However EU member states, such as the Netherlands, annually invest billions of euros through the European Investment Bank (EIB) in environmentally unfriendly industries, like oil, gas and mining, in developing countries. How can the Netherlands achieve its sustainable goals and incorporate climate considerations into its investment decisions?

At first glance, a dam in Uganda and a paper mill in Brazil don't seem to have much in common. Nevertheless, both projects are financed by the European Investment Bank (EIB) and both projects have a significant impact on the environment and the local population. The European Union is said to have great ambitions for the climate summit in Copenhagen, to be held in December.

The World Bank, an institution that aspires to achieve global sustainable development, now wants to position itself as an environmental bank. This role does not seem like a natural fit and is inconsistent with the implementation of its policies. So, for example, its climate investment funds' criteria are not ambitious enough to realise a transition to (real) renewable energy.