Both ENDS
The Netherlands is well on its way with the energy transition at home, but our country continues to encourage Dutch investments in fossil projects elsewhere. This is obviously not in line with the climate goals and, moreover, these kinds of projects cause major problems in the countries where they take place. What can a new cabinet do to reduce the Dutch footprint abroad? Ellen Mangnus discussed this with several experts: today part 2.
Both ENDS organised a Political Cafe in The Hague on Friday, 20 November in anticipation of the climate summit in Copenhagen. Here, Both ENDS and its Southern partners, GAMBA and NAPE took an in-depth look at the European Investment Bank's (EIB) investments. To what extent do they take the impacts of climate change into account? And, how consistent is their climate policy compared with the ambitions that the EU has for Copenhagen?
The World Bank, an institution that aspires to achieve global sustainable development, now wants to position itself as an environmental bank. This role does not seem like a natural fit and is inconsistent with the implementation of its policies. So, for example, its climate investment funds' criteria are not ambitious enough to realise a transition to (real) renewable energy.
On Wednesday, April 14, seven countries, including the Netherlands, launched an initiative called Export Finance for Future (E3F), in which they set a number of ambitions with regard to phasing out export support for the fossil sector. Many NGOs worldwide, including Both ENDS in the Netherlands, have been calling for such an initiative in recent years and we are therefore pleased with this step. However, to achieve results and contribute to the Paris climate goals, countries will have to commit to much more ambitious goals than those now set. Concerned civil society organizations, including Both ENDS, therefore prepared a statement detailing the weaknesses they felt in the policy proposed by E3F, supplemented with recommendations for improvements.
25 civil society organisations, including Both ENDS have submitted a comment on the overarching policy of the newly proposed Environmental and Social Framework of the EIB Group. The EIB has to undertake environmental, climate, social and human rights assessment and appraisal of proposed projects to inform the decision of financing and must not rely on a clients' self-assessment and reporting (solely). The Policy needs to state clearly what the due diligence, monitoring and reporting responisibilities for the EIB are, in particular regarding human rights and contractual clauses with clients should enshrine the standards in all EIB operations, enabling for suspension of contracts if the standards are not implemented.
FMO's new position statement on fossil fuel investments commits to ending new direct finance in the downstream and midstream coal and oil sectors, whilst still allowing for investments in gas-fired electricity generation under exceptional circumstances only. Both ENDS welcomes this development as a step in the right direction.
Almost 40 civil society organisations and networks from around the world, including Both ENDS, today sent a letter to Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag and State Secretary for Finance Hans Vijlbrief. They are asking the ministers to ensure that the expansion of export credit insurance as a result of the Corona crisis contributes to a green recovery.
Almost 40 civil society organisations and networks from around the world, including Both ENDS, today sent a letter to Dutch Minister for Foreign Trade and Development Cooperation Sigrid Kaag and State Secretary for Finance Hans Vijlbrief. They are asking the ministers to ensure that the expansion of export credit insurance as a result of the Corona crisis contributes to a green recovery.
