News / 2 August 2013

Success at European Investment Bank

The European Investment Bank (EIB) will clean up its act regarding coal plants. In recent years, the bank invested around 2 billion euro’s in polluting power plants which emit huge amounts of CO2. The EIB, which had a total capital base of 242 billion at the end of 2012, is doing business in 150 countries outside Europe.


The bank, which is based in Luxembourg, will drastically decrease its investments in coal as a source of energy. Regarding new investments it prefers clean energy suppliers. The EIB still makes an exception for plants in which biomass is co-fired, but the current decision is a step in the right direction. In addition the bank will finance technical support for clean energy projects. It will also co-finance and support the development of ‘near-zero-energy’ buildings. This good result was partly due to the pressure which was continuously exerted on the EIB by Counter Balance, of which Both ENDS is a member.


Counterbalance listed the  'Myths and Facts on Europe and Coal'


Read the press release of the EIB on the recent developments

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