On Wednesday 22 May is the official launch the Rich Forests Initiative: an exciting moment for Both ENDS and its partners after months of hard work. Roos Nijpels from Both ENDS explains what the Rich Forests initiative is and why the initiative is needed right now.
For a moment it appeared that the European Investment Bank (EIB) decided to stop investments in coal fired power plants. The bank even seemed to have issued a press release on the matter. But, unfortunately, the message was not real. During the annual press conference of the bank the activists, who were the source of the fake press release, stroke again. In the name of ‘the citizens of Europe’, EIB president Werner Hoyer was awarded with the ‘World Coal Down Award’. Hoyer, who was confused for a second, did not accept the award. The EIB fiercely denied the rumors surrounding the investment stop on coal with the term 'pure nonsense'.
The European Investment Bank (EIB) disbursed an additional EUR 40 million for the Bujagali dam in Uganda while complaints from the local communities are still waiting for a response. The dam is controversial because of its tremendous social and environmental impact. "By neglecting its own complaint mechanism, the EIB proves that its policy is nothing more than a green washing machine", several civil society organisations state.