New database names companies blacklisted by global investors and banks

In these uncertain times of accumulating national, international and global crises, we need hope and inspiration more than ever. Fortunately, many hopeful ideas and initiatives are already existing that show that it is indeed possible to change the world - and especially the systems behind it - in a sustainable and fair way. What opportunities are to be found, what is hopeful, what is already happening and how can we, as the Netherlands, respond to this?

Organisations join forces against polarisation

A broad coalition of organisations has joined forces for peace, human rights, equal opportunities for all and a society where discrimination and exclusion are actively opposed. Under the name "Heart trumps hates", the organisations call upon the public to sign a manifesto and to vote against divisions and for connection at the European elections on May 23rd 2019. On Sunday May 19th an event takes place in Utrecht, where visitors can make a joint statement. People in ten other European countries will also take action on this day.

At the core of the Fair, Green, and Global (FGG) Alliance’s mission is the commitment to building a just and sustainable world. As members of this alliance, Both ENDS, SOMO, and the Transnational Institute (TNI) recognise the urgent need to reimagine global investment frameworks. These frameworks, entrenched in outdated treaties such as Bilateral Investment Treaties (BITs) and the Energy Charter Treaty (ECT), often prioritise corporate profits over human rights, environmental sustainability, and social justice.

Today, the Netherlands announced that it will join a leading group of countries, including the United States, Canada and Italy, which declared that they would stop international support for fossil energy projects. At the day of the launch of the declaration at the climate summit in Glasgow on the 4th of November, the Netherlands had no intention of joining, but because of pressure from civil society and political parties, the responsible ministries decided to sign after all. Both ENDS, together with organizations at home and abroad, has been pushing for this for years, and we are very happy with this step. We will of course continue to monitor developments.

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.

The world has to stop using fossil fuels, but investment in the sector continues unabated. Investors of all kinds, including banks, insurance companies and pension funds, are hesitant about making the change to sustainable energy and are not sure where to start. In the autumn of 2019, together with the DivestInvest Network and Sustainable Energy (Denmark), Both ENDS published a report entitled ‘Managed Decline of Fossil Fuel Businesses’. The report describes five criteria to test whether companies in the fossil sector are actively taking steps to wind down their fossil activities. The criteria are helping investors to choose investments that are in line with the Paris goal of restricting global warming to a maximum of 1.5 degrees Celsius. We spoke to Lars Jensen, Senior Analyst at Sustainable Energy and lead author of the report.

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.

Authors note rectification 13 April 2023

Most Dutch pension funds and their asset managers do not vote consistently in favour of climate resolutions at the oil and gas companies and banks in which they invest. That is the conclusion of a report published today by Both ENDS and Groen Pensioen. Eleven of the twelve* Dutch pension funds studied have made public statements and pledges about adapting their policies in line with the Paris Climate Agreement. But their voting behaviour does not sufficiently correspond with these pledges. Only pension fund PME votes for 100% in line with its own climate promises.

In this short video, Niels Hazekamp of Both ENDS talks about how the Netherlands stimulates projects related to the fossil sector abroad through its export credit agency (ECA) Atradius DSB. The ECA provides export credit insurance for very large-scale and high-risk activities abroad. About two thirds of this export support (worth around 1.5 billion euros per year) is going to the fossil fuel sector. Absurd, at a time when the whole world has to make the transition to sustainable energy. Our country should not support the fossil, but the renewable energy sector with such guarantees, and grab that chance of 1.5 billion!

and Stijn Deklerck of Amnesty International Nederland

On 12 and 13 July, the Asian Infrastructure and Investment Bank (AIIB) will be holding its annual meeting in Luxembourg. This is the fourth annual meeting of the AIIB which was set up on the initiative of China. As a shareholder, the Netherlands will be attending the meeting.

Minister Liesje Schreinemacher for Foreign Trade and Development Cooperation recently made her first working visit, to Kenya and Uganda. With this visit, the minister made a flying start in honouring the pledge in the new government's coalition agreement to formulate a 'targeted Dutch Africa strategy'. Such a strategy is desperately needed as, too often, our foreign trade is conducted at the expense of people and the environment, including in countries in Africa. The new strategy presents a perfect opportunity to ensure that the 'trade and aid' agendas are closely aligned.

Civil society organisations send urgent letter on climate to financial sector

Amsterdam, 8 July 2021 – The Shell ruling has consequences for the financiers of major climate polluters. That is the message in a letter from a number of civil society organisations, including Oxfam Novib, Eerlijke Geldwijzer, Milieudefensie, Greenpeace and Both ENDS, to the biggest banks, pension funds and insurance companies in the Netherlands. In the letter, they call on the financial institutions to reduce CO2 emissions from loans and investments in line with the 1.5 degrees goal laid down in the Paris climate agreement.

On Thursday November 7th, a group of European NGO's including Both ENDS, sent a letter to Vice-President of the EU Frans Timmermans, in which they ask him to support the phase out of European Investment Bank’s fossil fuel financing by the end of 2020.

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.