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.
Every 10 years, the mandate and activities of 'Export Development Canada' (EDC), the Canadian export credit agency, are reviewed. Since the last review took place in 2008, another review is currently underway. Both ENDS and a couple of other CSOs working from a number of countries made a joint submission as formal input to the legislative review. We did this especially in light of the Canadian governments' ambition to show leadership on climate change and to prioritise climate change action and clean economic growth.
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.
Yesterday, the French President Macron, the President of the World Bank Group, Jim Yong Kim, and the Secretary-General of the United Nations, António Guterres, met with international leaders and committed citizens from around the world in Paris. According to the organisers, the aim of this gathering was to 'address the ecological emergency for our planet' as 'two years to the day after the historic Paris Agreement, it is time for concrete action.'
Whenever I see pictures of the people in the Dutch province of Groningen whose houses are collapsing because of gas extraction and who, even if they wanted to move somewhere else, would never be able to sell them, I can't help but think of all the people worldwide who have been experiencing the same problems, sometimes for decades. Every time I see the anger and powerlessness of the people of Groningen, the comparison to the many people we have been working with for many years in many parts of the world comes to my mind.
Although outgoing economics minister Henk Kamp stated in May of this year that fossil fuels are not subsidised in the Netherlands, a report out today shows that this is clearly not the case. The report. ‘Phase-Out 2020: Monitoring Europe’s fossil fuel subsidies’, by the Overseas Development Institute (ODI) and Climate Action Network Europe (CAN-Europe), says that the Netherlands is supporting the fossil sector at home and abroad with more than 7.6 billion euros a year (1). The Netherlands made international agreements as long ago as 2009 (2) to ban subsidies for fossil fuels. Environment NGO Milieudefensie and Both ENDS – both members of CAN-Europe – call attention to these findings because they find it unacceptable that the government perpetuates our dependence on fossil fuels in this way.