How Germany's development bank will fund a giant lignite plant in Greece | Energy Desk - Greenpeace UK (24 March 2014).
"KfW is one of the few Western development banks left that has no policy phasing out new coal investments. ¶ In October last year US president Obama pushed through new guidance from the US Treasury that it wouldn’t finance coal plants abroad - through the World Bank and other international development institutions - unless they had CCS or in very rare cases where there is no other economically feasible option in the world’s poorest countries (which does not include Greece). ¶ The World Bank also reiterated its plans to stop investing in new coal projects unless in poor countries where renewables would be too expensive. ¶ A couple of months later, similar plans to halt investment in most coal plants were revealed by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB). ¶ The EIB decided not to invest in Ptolemaida 5, ending rumours that it might in January this year."
Funding for new coal undermines Greece’s potential for a living economy | New Europe (23 March 2014).
"The recent decision of Italian chief prosecutor Francantonio Granero to order the closure of two power units at Vado Ligure has revealed the well hidden killer assumption of coal: human deaths and environmental damage. In Greece, plans by the Public Power Corporation for a EUR 1,4 billion lignite burning power plant, Ptolemaida V, undermine the crisis stricken country’s potential for sustainable economic recovery. ¶ In planning, when a killer assumption is identified, it is time to rethink the project. The case of coal is replete with killer assumptions. The time has come for financial institutions to clean their investment portfolios from fossil fuels and start supporting the necessary shift towards sustainable economic recovery across Europe."
Profiting from crisis - How corporations and lawyers are scavenging profits from Europe’s crisis countries | Corporate Europe Observatory (10 March 2014).
"Profiting from Crisis looks closely at how corporate investors have responded to the measures taken by Spain, Greece and Cyprus to protect their economies in the wake of the European debt crisis. In Greece, Poštová Bank from Slovakia bought Greek debt after the bond value had already been downgraded, and was then offered a very generous debt restructuring package, yet sought to extract an even better deal by suing Greece using the Bilateral Investment Treaty (BIT) between Slovakia and Greece. In Cyprus, a Greek-listed private equity-style investor, Marfin Investment Group, which was involved in a series of questionable lending practices, is seeking €823 million in compensation for their lost investments after Cyprus had to nationalise the Laiki Bank as part of an EU debt restructuring agreement. In Spain, 22 companies (at the time of writing), mainly private equity funds, have sued at international tribunals for cuts in subsidies for renewable energy. While the cuts in subsidies have been rightly criticised by environmentalists, only large foreign investors have the ability to sue, and it is egregious that if they win it will be the already suffering Spanish public who will have to pay to enrich private equity funds."
WWF seeks to forge new, sustainable narrative for crisis-wracked citizens| Kathimerini (6 March 2014)
"Following in the footsteps of its counterparts around the world, WWF Greece appears to hereby move beyond familiar eco-centric territory, adopting a more holistic understanding of sustainability. The campaign's agenda addresses issues such as energy conservation, sustainable consumption, urban living, and balanced nutrition – along the lines of WWF's “Livewell” program for a healthy and sustainable diet.
So far more than 1,300 people and 85 schools have signed up with the program, which has occasionally joined forces with other, more niche platforms such as the Boroume (We Can) initiative against food waste, and the City of Errors network for civic engagement. More than 1,000 people took part in a festival against food waste organized together with Boroume in Athens earlier this year."
Official disquiet grows over EU states' efficiency plans | Euractiv (6 March 2014)
"EU countries see energy savings as a "luxury", neglect building sector roadmaps, and are producing national action plans unlikely to meet a 2020 energy efficiency target, according to government officials and advisers surveyed by EurActiv."