Alexandra Gerasimcikova works on European public finance and social justice at Brussels-based nonprofit Counter Balance.
The European Investment Bank has an over half-trillion-euro balance sheet — and real power to invest in the green transition. But far from pursuing its public mandate, it’s devoting public resources to propping up the continent’s largest companies.
Responding to the Inflation Reduction Act, the EU has unveiled its own green industrial plan. It has little to do with real decarbonization — but hands public money to big business, fueling a global race among “clean-tech” oligopolies.