Both ENDS
The Dutch pension fund, ABP, invested about two billion euros more in the fossil energy industry at the end of 2016 than the year before. This is announced by the report "Dirty & Dangerous: the fossil fuel investments of Dutch pension fund ABP," published today by Both ENDS, German urgewald and Fossielvrij NL. The report criticizes these investments because of the impact on the climate and the catastrophic consequences for the people in the areas where coal, oil and gas are being produced.
In 2015 and 2019, the Brazilian state of Minas Gerais experienced two severe mining tragedies in Mariana and Brumadinho, due to the same mining company: Vale. Since then, the affected communities have been seeking justice, via the criminal punishment of the responsible parties, and a fair compensation for the loss of their loved ones, their homes and their livelihoods. Both ENDS supports local CSOs by amplifying their quest for justice within an international audience and, more specifically, by raising awareness amongst Dutch investors in Vale about the high risks this company’s activities pose for people and the environment.
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.
The time for change is now. Civil society demands international investment
frameworks that are aligned with economic justice, social and environmental
sustainability, and the needs of communities worldwide.
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 These frameworks, entrenched in outdated treaties such as Bilateral Investment Treaties (BITs) and the Energy Charter Treaty (ECT), often prioritise corporate profits over human rights, environmental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.
Seven years ago, the dam owned by mining company Vale collapsed in Brumadinho, Brazil, killing 272 people and severely polluting the surrounding area. While the relatives of the victims commemorate them and fight for justice, the pollution continues.
In 2011 one of the world’s largest gas reserves was found in the coastal province of Cabo Delgado, in the north of Mozambique. A total of 35 billion dollars has been invested to extract the gas. Dozens of multinationals and financiers are involved in these rapid developments. It is very difficult for the people living in Cabo Delgado to exert influence on the plans and activities, while they experience the negative consequences. With the arrival of these companies, they are losing their land.
