Press release: European stakeholders call for immediate action in face of climate emergency

Today, on the eve of the UN Climate Change Conference, COP26, the fossil fuel divest-invest movement released a new report that details how institutions representing an unprecedented total of EUR 33.7 trillion worth of assets have now committed to some form of fossil fuel divestment, a figure that's higher than the annual GDP of the United States and China combined.

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.

The EU is still one of the world’s largest importers of deforestation: EU demand for commodities like soy, palm oil, beef, coffee and cacao requires millions of hectares of tropical rainforest to be cleared. This deforestation has significant biodiversity and climate impacts, and is often linked to human rights violations and violence against local communities and indigenous peoples. Both ENDS and partners have been actively lobbying the EU Commission to adopt a robust action plan to address and prevent human rights violations and deforestation ‘embodied’ in EU imports of agricultural commodities. 

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.

The world's forests are under threat. Remaining forests – havens of precious biodiversity and the lungs of the planet – are being cleared to make way for beef, soy, sugar and palm oil production, mining and other industrial activities, fuelled by increasing demand from Europe and other countries. But the good news is: you can help stop the destruction!

Good news for the climate: last week, the European Investment Bank (EIB) decided to stop investing in fossil fuels by 2021. This is part of its new energy strategy.

The European Investment Bank EIB should get rid of its gas-investments, and the Netherlands can take the lead in this. The Netherlands appears to be relying less and less on gas in its energy policy, and also seems to focus on gas-free investments at the EIB. Now it is important to maintain this position and also convince the other EU countries.

The Dutch development bank FMO has published a statement about fossil fuels to take steps in climate action. Both ENDS and partners are pleased that FMO is finally taking a stand regarding fossil fuels, but in our opinion it could be more ambitious. In order to really contribute to sustainability and equality, it is essential that development banks stop investing in harmful fossil projects.

Today an alliance of more than 150 organisations, trade unions and social movements in countries across Europe is launching a joint programme against unfair trade and investment agreements, and especially against the controversial Investor-to-State-Dispute-Settlement (ISDS) mechanism. Under ISDS, investors can bring complaints against states whose social and environmental legislation pose a threat to their profits.

Brussels, Belgium - 14 December

A landmark 1,193,652 submissions to the EU's public consultation on deforestation were handed over to the European Commission this afternoon, all of which demanded a strong EU law to protect the world's forests and the rights of people who depend on them. The one million+ submissions have made this the largest public consultation on environmental issues in the history of the EU, and the second largest ever.

The EU is the world's largest "importer of deforestation," due to the huge volumes of unsustainably produced soy, timber, palm oil, and other raw materials that EU member states import. After many years of delay, the European Parliament and the European Council passed a law in December 2023 to address this problem: The EU Deforestation Regulation (EUDR). Both ENDS is part of a broad coalition of organizations that have been pushing for this European legislation. However, there is now a serious delay, and perhaps even postponement, of the law's implementation. Objections have been raised by a number of member states, who are sensitive to lobbying by certain business sectors and producer countries.

On 23 July 2020 a global network of NGOs working to strengthen corporate accountability for environmental destruction and human rights abuses, including Both ENDS, published an open letter to European Commission DG Justice Commissioner Reynders. The letter is a response to his recent commitment to propose legislation in 2021 on both corporate due diligence and directors’ duties as part of an initiative on sustainable corporate governance.

The European Investment Bank (EIB) has published its new policy for energy investments. In the new draft policy, the bank states to stop investing in fossil fuel related projects from 2020. This is good news for the climate, so Both ENDS and partners are happy with this draft policy. The shareholders of the bank, the member states of the European Union, still have to approve it.