In preparation for the United Nations Conference on Sustainable Development or Rio+20, which will take place in June, Both ENDS published a document in February to start the discussion on the progress of events. In this policy note, Both ENDS has made some suggestions to improve "the Future we want" which is the 'zero' draft of the negotiating document, in an effort to maximize the chance of a successful outcome of the conference.
Over the past 15 years the production of palm oil has increased enormously, and not without reason: palm oil, pressed from the fruit of the oil palm, is cheap and is used in many different products. It is processed in ice cream, chocolate, margarine and sauces, but also in personal care products and cosmetics such as lipstick, detergent, toothpaste, soap and biofuel. Unfortunately, the large demand for palm oil has quite some negative side effects: large-scale deforestation, pollution, 'land grabbing' and above all human rights violations are common practice in countries where palm oil is produced.
Both ENDS, SOMO, Oxfam Novib and Recourse sent in a submission to FMO's public consultation on its Position Statement on Financial Intermediaries. In this position statement, FMO only takes limited responsibility for the consequences of its investments through so-called financial intermediaries. We call upon FMO to publish a position statement that focuses on protecting human rights and the environment and take full responsibility for this.