How biodiversity offsetting has become a key tool to legitimise mining in Mongolia

"How many layers of clothing are you wearing? One? No, that's not enough. You should wear your ski pants over your jeans, and change your shoes for snowboots." And there you are, on day 1 of your trip to Mongolia. I had already heard that Mongolia is very cold at the end of November, and with -22 degrees that seemed to be all true.

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.

It was minus 20 degrees Celsius when 2.000 women gathered at the main square of Ulaanbaatar, Mongolia, to voice their distress about the terrible smog in the city caused by three large power plants. Soon after, the women were invited to speak about the problem of air pollution with the minister of environment.

Amsterdam, 3 February 2020 - A step forward, but oil and gas remain a blind spot in Dutch pension fund ABP's new investment policy published today. That's what environmental organisations Both ENDS, Fossielvrij NL, Greenpeace Netherlands and urgewald say in response to the new climate policy of the EU's largest pension fund, with assets over 442 billion euros. Although ABP is taking first steps to invest sustainably, more is needed to stop the climate crisis.

To realise the energy transition, large quantities of minerals and metals such as lithium, cobalt and rare earth metals are needed. These raw materials are mainly extracted in countries in the global South, and unfortunately this is almost always accompanied by human rights violations and environmental destruction. Today – also in light of EU Raw Materials Week that is happening this week – Argentinian organisation FARN and Both ENDS publish a joint report on the extraction of lithium in Argentina.

272 innocent people were killed. A tsunami of toxic mud unleashed, some 12 million cubic metres of ore tailing into the surrounding areas. January 25th, 2024 is the solemn 5-year mark of the Brumadinho upstream mining dam collapse. This was Brazil’s worst environmental and industrial disaster.

After five years of equivocation the European Commission has proposed a ‘roadmap’ for stepping-up EU action to address its contribution to global deforestation.  Despite the escalating impact of EU trade in forest-risk commodities, regardless of repeated calls from the European Parliament for regulatory measures and contrary to the conclusions of the Commission’s own feasibility study in support of legislative intervention, the Commission has ruled-out out any new initiatives, let alone any legislative measures.  The Commission’s solution to this complex problem: policy coherence.

Amsterdam, 23 September 2019 - The world's 5th largest pension fund, with assets of over €430 billion, Dutch ABP is continuing to invest in companies that are on a collision course with the Paris climate goals, such as coal and oil companies.

In 2017 Both ENDS stepped up its efforts to stop the Dutch government from supporting the fossil fuel industry. Phasing out fossil fuels is key to achieving the goals set in the Paris Climate Agreement. To Both ENDS, there is another reason: fossil fuel-related projects often have disastrous effects for the poorest people in the Global South.

New research by Both ENDS, Fossielvrij NL and urgewald shows that, in 2017, pension fund ABP invested 500 million euros more in coal, oil and gas than in the previous year – a total of 10.9 billion euros. These investments in fossil fuels not only stand in sharp contrast to ABP's claim that it has achieved substantial successes in its climate policy, but are also in flagrant violation of the Paris climate agreement. Unlike international forerunners among pension funds, ABP continues unabated to invest in the fossil energy sector.