EIB and EBRD accept WCD standards for hydro power carbon credits

6 Oct. 2005, Int'l Rivers Network, Berkeley, CA USA: The two biggest public banks in Europe, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), have announced that they will take into account the international standards for dam-building set by the World Commission on Dams (WCD). The World Bank, however, continues to disregard the recommendations of the WCD, despite being one of the Commission’s two original co-sponsors. An EU directive regulating the admission of Clean Development Mechanism (CDM) credits into the EU's emissions trading system states: "In the case of hydroelectric power production project activities with a generating capacity exceeding 20MW, Member States shall, when approving such project activities, ensure that relevant international criteria and guidelines, including those contained in the World Commission on Dams year 2000 Final Report, will be respected during the development of such project activities."