Guest blog by Debora Calheiros, Brazil
With our Wetlands without Borders program, we work towards environmentally sustainable and socially responsible governance of the wetlands system of the La Plata Basin in South America.
Together with civil society organisations from all over the world, the Fair Green and Global (FGG) Alliance aims for socially just, inclusive and environmentally sustainable societies in the Netherlands and the Global South.
Still, more funds are spent on the fossil industry than on sustainable solutions. Banks, pension funds, insurers and governments keep investing in fossil infrastructure which endangers people and the environment. Therefore we call on financial institutions to stop funding the climate crisis.
Join our "Stop Fossil Finance" block at the next climate march!
Both ENDS, also on behalf of FERN, NCIV and Milieudefensie, sent a letter to Vivianne Heijnen, the State Secretary for Infrastructure and Water Management, about the MTCS certificate. In practice, this Malaysian timber certificate appears to tolerate the violation of indigenous land rights and intimidation of indigenous organisations. The Netherlands should therefore suspend the approval of MTCS in its purchasing policy, among other things.
Today, two independent experts brought out a legal opinion on the obligations of countries and their export credit agencies under international law in relation to export support for fossil fuels. According to the report, emissions by fossil fuels and the related infrastructure need to be reduced urgently.
Many countries heavily support fossil fuel investments abroad through their export credit agency (ECA). This contributes to carbon lock- in, whereby companies or even countries commit themselves to a certain amount of greenhouse gas emissions for the lifetime of the infrastructure — oftentimes years or even decades. This seriously delays the transition to renewable energy sources, and is certainly not in line with Art. 2.1c of the Paris Agreement.
Highlighting the impacts caused by export finance in the global South, this side event will provide concrete recommendations to decarbonize export credit agencies.