The European Parliament in its plenary session on the 5th of April, adopted a proposal to regulate Export Credit Agencies (ECAs) that will force them to become more transparent on where their funds come from, and go to, as well as how they count social and environmental risks. Furthermore, the Parliament requires ECAs to comply with EU human rights objectives in their activities, and to phase out the subsidising of fossil fuel projects in line with commitments adopted by the G20 in 2009.
After the second shocking murder of an indigenous rights activist in Honduras in less than two weeks the Dutch development bank, FMO, and the Finish development bank, FinnFund, announced a suspension of all their operations in Honduras. They declare that they will no longer engage in new projects or disbursements in the country, including in new disbursements in the Agua Zarca Project.
CSO reject EU policy reform that would legalize EU trade sanctions against developing countries, based on their migration policies. An important trade and development policy tool of the EU is the Generalized Scheme of Preferences (GSP), which allows developing countries to export goods to the EU at low or no tariffs. The current GSP Regulation is to expire end of this year.
A coalition of NGOs today launched the Financial Exclusions Tracker, a new website that tracks which companies are being excluded by investors and banks for sustainability reasons. Most excluded corporations are barred due to links to fossil fuels, weapons or tobacco.
Utrecht, 5 October 2022 - Dutch development bank FMO bears responsibility for the destruction of livelihoods, economic losses and environmental damage caused by the construction of the Barro Blanco dam in Panama, according to a report by the bank's Independent Complaints Mechanism (ICM). Indigenous communities affected by the dam are pleased that their complaints have been confirmed and reiterate their call for apologies and compensation.
The right to water is more important than economic gain. Last year, this has been defined by law in two municipalities in Honduras. Our partner organization ARCA worked long and hard to make this happen, but eventually succeeded. The ‘right to water’… what exactly does it entail in practice? Why is it so important, and why is this relatively small success still a true milestone? Sanderijn van Beek of Both ENDS was involved in this story.