This week the European Investment Bank (EIB), or ‘Europe’s house bank’, presented a concept policy note which outlines future policies on loans in the energy sector provided by the bank. Network organisations CEE Bankwatch and Counter Balance, both of which Both ENDS is a member, monitor policies and investments of the EIB. They find the new proposal very disappointing and have therefore sent a press release. Huub Scheele from Both ENDS, who has been working with our colleagues from CEE Bankwatch and Counter Balance for years, explains why.
We are seeing increased interest in the EU for blending different development financial instruments with export credits, even though export credits are not fit for this purpose. The European Commission is developing plans for using so-called export credits for financing everything from raw materials, to development projects, to weapons. A new report of Counter Balance is shedding light on the significant environmental and social impacts of projects financed by ECAs.
As negotiations were held by European policymakers today about a possible capital increase of the European Investment Bank (EIB), a press release was issued by Counter Balance: a coalition of Both ENDS and European NGO's that monitor the EIB. As long as it's not clearly evident where the loaned money goes and no conditions are set for advancing the support of sustainable projects, the EIB is not ready for such an expansion according to the involved organisations.
Both ENDS letter to the World Bank on the Environmental and Social Safeguards policies review. The World Bank safeguards review is part of a reorganization that aims at making lending cost-effective with less rules in place, which likely entails an increase in the number of problem projects. The reorganization aims at making lending
more cost-effective, forms in place. Safeguards policies are of crucial importance for project affected people to hold banks to account. However, Environmental and Social Frameworks (ESF) nowadays replace safeguards at banks. The ESF model leads to a reduction of a Bank's direct and mandatory role in overview, including due diligence, monitoring, and evaluation, of Bank funded activities and investments, along with a shift towards a greater reliance on client self-assessment and self-reporting. Our main ask is a return to binding, rules-based safeguards policies at banks.
EU Agriculture Ministers have been officially briefed by the Hungarian Presidency on the outcome of a 3-day conference on how the Common Agricultural Policy (CAP) can promote sustainable animal husbandry. The conference was organized with the support of Both ENDS by a consortium of European NGO's & Fair Trade organizations. 80 Civil Society representatives from 15 European countries were brought together to Debrecen (Hungary) to discuss how the future Common Agricultural Policy can contribute to a sustainable animal husbandry sector in Europe.
Last Wednesday, just before the summer recess, the Tweede Kamer (the Dutch Lower House) discussed Minister Koenders's policy memorandum: "Samen werken aan mondiale uitdagingen, Nederland en multilaterale ontwikkelingssamenwerking" (Working together on global challenges; the Netherlands and multilateral development cooperation). With 'multilateral' Koenders refers to the UN, Multilateral Financial Institutions (MFIs) such as the World Bank and the International Monetary Fund, the European Union and a number of global funds.