Both ENDS
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.
New website shines a light on the extent of export credit agencies' support for fossil fuels
Each year governments provide tens of billions of dollars in financial support to fossil fuel projects via export credit agencies (ECAs). Today, 18 civil society groups from 14 countries are launching a new website to shine a spotlight on how ECAs are undermining global climate goals. In advance of the November UN climate conference, the organisations are calling on governments around the world to end public financial support for coal, oil and gas projects, including support from ECAs. Ending this support and redirecting financial resources to sustainable alternatives is essential for a just energy transition.
Communities in the Niger Delta have been affected by air and water pollution due to Shell's activities for decades. This year, at Royal Dutch Shell's annual meeting, Kebetkache Women's Resource and Development Centre held Shell accountable for the consequences of their activities. Clean-up of oil spillages and ending gas flaring is becoming even more urgent in the fight against COVID-19, in which clean water is crucial to prevent the spread of the virus.
This briefing of Eurodad, co-authored by Pieter Jansen, Both ENDS aims to outline recommendations on how the European Investment Bank should address the interconnected issue of gender inequity and the climate crisis in the newly proposed environmental and social policy.Severe climate change has consequences for human rights, including the right to life. As such, under the European convention on human rights the EIB has a duty to stop carbon-emissions related investments. The EIB and project promoters must monitor a project's greenhouse gas emissions and the climate risks of the project on the natural environment, and the women possibly affected by the project. The newly proposed policy should ensure that project promoters, who apply for EIB funding, submit a gender and social inclusion plan, and full participation and engagement of women, local communities and stakeholders in the Climate Risk Vulnerability Assessment methodology.
The Netherlands provides export credit insurances and guarantees worth 1.5 billion euros annually to Dutch companies active in the oil and gas sector abroad. This support amounts to one and a half times the annual amount that the Cabinet of Prime Minister Rutte mobilises for climate initiatives worldwide. The intended effects of Dutch international climate policy are more than offset by this fossil export support. That is the conclusion of a new report from Both ENDS which is published today.
Joint press release from Both ENDS and Fossielvrij NL - 26 March 2019
A group of 22 wealthy Dutch investors have decided to disinvest all their personal capital, worth a total of 200 million euros, from the top 200 oil, gas and coal companies. The investors have pledged to disinvest all their capital from the fossil industry within three to five years. By doing so, they are giving a clear signal that they do not want their capital to contribute to disastrous climate change.
