1. EBRD's Mining Strategy (MS) www.bankwatch.org The Bank recognizes that mining can cause significant adverse environmental and social impacts, including permanent ones, and that no single mine can be sustainable since it exploits a finite local resource. At the same time no definition of responsible mining is provided in the draft Mining Strategy. The EBRD's MS has to be compliant with the Bank's Environmental and Social Policy and the relevant Performance Requirements. In particular it requires that all projects are: a) socially and environmentally sustainable. b) respect the precautionary principle c) respect the polluter pays principle d) respect the prevention principle

2. Main problems that have not yet been addressed www.bankwatch.org - Coal mining and it's climate impacts (explained in detail later on) - Resource dependence - Cooperation with other EBRD Departments to pro- actively seek resource efficiency alternatives - Free Prior Informed Consent by the local communities - No-go zones

3. www.bankwatch.org Controversial mining projects - Kolubara project and EPS Power II, Serbia - Kumtor gold mine, Kyrgyzstan - Mongolian mining projects - Arcelol Mittal Termitau, Kazakhstan - Chelopech cyanide gold project

4. Coal lending by the EBRD in the last years www.bankwatch.org EC response - since 1999 out of 26 mining projects only 6 projects are for coal. But Leverage at least 3 times more private investments Trend in increase of coal investment – 5 projects are signed in 2009-2011 period 4 projects in Mongolia and 1 in Serbia – all with significant environmental and social impact No climate impact considered “In many cases coal mines will be developed anyway if EBRD does not fund them” EBRD Special Study, Extractive Industry Strategy Review August 2011

5. Thank you for Your attention! Kuba Gogolewski Energy Campaigner CEE Bankwatch Network kuba.gogolewski@bankwatch.org www.bankwatch.org