The Netherlands and Europe are investing far too much in gas pipelines and storage facilities. The number of gas pipelines is already enough to meet the demand for gas. The planning and construction of pipelines (financed with European funds) that have to transport gas from Russia, Central Asia and North Africa to Europe and the Netherlands is getting out of hand. The current capacity for transport and storage in both the Netherlands and Europe is enough to meet European demand until 2050. Therefore, the 'gas hub' that was built for liquefied gas in Rotterdam is unnecessary. This is one of the conclusions of the report "The Price of Gas" that was commissioned by Both ENDS.
On September 20 and 27 the global climate strike takes place. Both ENDS joins the Dutch Climate Strike on September 27 in The Hague. This is why.
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.
The value of ABP's pension fund investments in fossil fuel companies has fallen by 44% from end of last year to its lowest point on March 16 this year, while the value of the rest of the portfolio decreased by 26%. This impact can be seen in simulations based on the publicly available equity portfolios of Dutch pension funds ABP and Zorg en Welzijn (PFZW), carried out by research agency Profundo on behalf of Both ENDS. The simulations show that the risks of investing in the fossil fuel sector are increasing.
Elections are soon to be held in the Netherlands. The political parties are sharpening their knives and have outlined their plans in hefty manifestos. Not surprisingly, they mainly focus on domestic issues. International themes are primarily addressed in terms of opportunities for Dutch companies and threats in areas like health, privacy and competition that we need to protect ourselves against. But if we want to make the Netherlands sustainable, we especially need to look at our footprint beyond our own borders and make every effort to reduce it. In the weeks leading up to the elections, Both ENDS looks at where the parties' manifestos offer opportunities to achieve that.
Since the signing of the Paris Climate Agreement, rich countries have provided almost 50 times as much export support for fossil fuel related projects as for clean energy projects in four African countries. This is the conclusion of a report written by five environmental organisations from Ghana, Nigeria, Togo and Uganda, in cooperation with Friends of the Earth Netherlands and Both ENDS. The rich countries insured energy projects with a total value of 11 billion US dollars through their export credit agencies (ECAs). More than half of this export support is related to fossil fuels. Only 1% went to sustainable renewable energy.