Both ENDS
Our new report titled EU ECA fossil fuel phase-out tracker by Both ENDS, Counter Balance and Oil Change International sheds light on the concerning lack of harmony between EU Member States' export credit climate policies.
The report was updated on April 17th, following new responses by Member States on their respective policies.
Together with environmental justice groups from the Global South, Both ENDS works towards a sustainable, fair and inclusive world. Both ENDS gathers and shares information about policy and investments that have a direct impact on people and their livelihood, we engage in joint advocacy, we stimulate the dialogue between stakeholders and we promote and support sustainable local alternatives.
With great pride, Both ENDS launches today it’s new strategy for the coming 5 years: “Connecting people for an environmentally just world”. This strategy was developed in close collaboration with our partner network, which has always been, and still is, the foundation of our work. Together, we strive for an environmentally just world in which people and ecosystems thrive and all people can live a life of dignity.
In a new Position Statement on Financial Intermediary (FI) Lending, Dutch development bank FMO argues for limited responsibility over the outcomes investments that are channeled through commercial banks, investment funds, and other financial intermediaries, representing by far the bigger sector of its portfolio. In doing so, FMO is undermining its development mission, including the protection of human rights and addressing the climate crisis. FMO intends to delegate these key responsibilities to its FI clients only, falling short of best practices of peer financial institutions. In a joint submission prepared by Both ENDS, Oxfam Novib, Recourse and SOMO, we argue that FMO can do much more to ensure the protection of human rights, the environment, and to measure the development impact of its indirect investments.
Development banks should comply with strict environmental and human rights rules to ensure that their projects benefit and do not harm the poorest groups. Both ENDS monitors the banks to make sure they do.
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.
Both ENDS organised a Political Cafe in The Hague on Friday, 20 November in anticipation of the climate summit in Copenhagen. Here, Both ENDS and its Southern partners, GAMBA and NAPE took an in-depth look at the European Investment Bank's (EIB) investments. To what extent do they take the impacts of climate change into account? And, how consistent is their climate policy compared with the ambitions that the EU has for Copenhagen?
