Environmental watchdogs CEE Bankwatch Network and Eko-svest asked the European Bank for Reconstruction and Development’s (EBRD) redress mechanism to investigate a planned loan for a major new fossil gas pipeline from Greece to North Macedonia.
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In a formal complaint to the Bank’s Independent Project Accountability Mechanism (IPAM), the groups assert that the project due for approval by the Bank’s board of directors on 24 April has breached national and EU law, and, as a result also contravenes the EBRD’s environmental and social policy.
The pipeline, if built, would import an additional 1.5 billion cubic metres of gas into North Macedonia three times the country’s 2021 consumption massively increasing its dependence on fossil fuel imports.
Yet its main environmental impact greenhouse gas emissions from burning the gas it transports was not assessed in the environmental impact assessment for the project.
And no mandatory public consultation period was held before the environmental assessment was approved by the North Macedonia authorities.
Despite this, a loan for the project has already been approved by the European Investment Bank, as well as a grant from the EU’s Western Balkans Investment Framework.
Ana Colovic Lesoska, Executive Director, Eko-svest: ‘Most people in North Macedonia have no idea about this project, as there has been no public debate. But instead of insisting on meaningful public consultation, the EBRD has turned a blind eye. A European bank must insist on EU standards – which are anyway mandatory for a candidate country like ours.’
Pippa Gallop, Southeast Europe Energy Policy Officer, CEE Bankwatch Network: ‘The EU and its banks must stop applying double standards: At home they understand the need to phase out gas, but they have no problem with helping the Western Balkans get addicted to this pricey imported fossil fuel – and pretending it has next to no emissions.
'The EU must stop acting as a broker for the gas industry and push for a rapid phase-out.’ ■
A low pressure wave forming along a cold front will track across the New England coast this morning, bringing a period of rain, heavy at times for much of New England, especially for Maine today.