Dear readers,
This week, we investigated how organisations entrusted with €6 billion of EU innovation funding wasted public money, why European universities are still working with Israeli institutions despite pledges to cut ties over the war in Gaza, and how Europe’s green hydrogen ambitions in Namibia are colliding with an oil boom.
Students across Europe can also now read Follow the Money for free.
Here’s your weekly investigative briefing.
‘Money for old rope’: AI data centre firm criticised for dubious carbon claim
AI data centres come with huge environmental costs. One British firm thinks it’s found a bold solution: power them with landfill gas and sell carbon credits for the emissions supposedly avoided. But much of that gas is already required by law to be captured.
That’s why one critic calls it “another case of carbon credits being issued where they shouldn’t be”.
Read more
Europe’s green hydrogen hopes suffer fresh setback in Namibia
Europe’s green energy poster child could become an oil powerhouse. Backed by €1 billion in promised EU funding for green hydrogen, Namibia was meant to help power the bloc’s energy transition. But those ambitions are stalling, with large-scale exports to Europe now looking unlikely, according to a senior Namibian official.
Meanwhile, Namibia’s oil and gas sector is gathering pace. A fossil fuel lobby group has a blunt message for the country: “Drill, baby, drill”. And some EU-backed infrastructure built for green industrialisation could also end up benefiting fossil fuels. Can Europe have it both ways with Namibia’s green hydrogen and oil boom?
Read more
European universities promised to cut Israeli research ties. Dozens didn’t.
Universities across Europe said they would boycott Israeli research and technology partners over the war in Gaza. Yet in the Netherlands, Belgium, Spain, and elsewhere, cooperation continues. Some of those projects have potential military applications.
Institutions say cutting ties is not straightforward. Contracts, funding arrangements, and legal issues can make withdrawal difficult or costly. That leaves universities caught between pressure to sever links and the consequences of doing so.
Read more
Booze, bonuses, and wasted money plague EU’s €6bn bet on innovation
The EU gave 10 organisations €6bn to turn research into solutions for Europe’s biggest challenges. FTM found a very different story behind the innovation pitch: lavish spending, weak oversight, and potential conflicts of interest.
Business-class upgrades on short European flights. Staff events with free-flowing alcohol. Up to 200 employees flew in for lavish gatherings. One insider described it simply as “burning money”. Now Brussels is deciding the future of the system.
Read more
Students across Europe can now read Follow the Money for free! 📚Get unlimited access to radically independent investigations into money, power, politics, Big Tech, climate, and more. No paywall, no cost, just journalism that holds power to account.
🔗 Share the message and sign up here
Until next week
As always, thanks for reading and supporting independent journalism.
If our investigations matter to you, please consider becoming a member. Follow the Money is funded entirely by its readers, and every membership helps us continue our work.
Interested in applying for our student ambassador programme, or know someone who’d love to bring investigative journalism to their university? Apply by this coming Monday 14 September.
Got feedback, tips, or story ideas? Get in touch at info@ftm.nl
