What is the reason behind the European Investment Bank’s 500 million loan to the Brazilian development bank BNDES? The money, paid for by the European taxpayer, comes from the ‘climate funds’ intended for projects to stop climate change. Does this make BNDES the most logical choice? Anouk Franck went to Brazil to find out more about this loan.
The Dutch government, through its export credit agency Atradius DSB (ADSB), provides export support to companies that undertake activities abroad. The state wants projects it insures to have no negative consequences for people and the environment and therefore sets requirements for corporate social responsibility (CSR). A consultation on CSR policy ran until the end of April, to which a coalition of thirteen social organisations from the Netherlands and abroad, including Both ENDS and Milieudefensie (Friends of the Earth the Netherlands), responded.
On January 25, 2019, Brumadinho region witnessed a tragedy-crime that claimed 272 lives, including two unborn children, affectionately called "Jewels" in response to VALE’s declarations that the company, as a Brazilian jewel, should not be condemned for an accident. However, the investigations about B1 dam collapse, at Córrego do Feijão Mine, showed that the scar left on the community and environment was not an accident, but VALE negligence.
CSO reject EU policy reform that would legalize EU trade sanctions against developing countries, based on their migration policies. An important trade and development policy tool of the EU is the Generalized Scheme of Preferences (GSP), which allows developing countries to export goods to the EU at low or no tariffs. The current GSP Regulation is to expire end of this year.