Both ENDS
Both ENDS calls on the government only to provide export credit insurance to sustainable projects that cause no social and/or environmental damage in the countries where they take place.
Friday 20 November 2009 - 17h30 - 19h30 - Het Nutshuis - The Hague.
A new global climate treaty, which aims to counteract further global warming, is set for December. The European Union is said to have great ambitions for this climate summit in Copenhagen. However EU member states, such as the Netherlands, annually invest billions of euros through the European Investment Bank (EIB) in environmentally unfriendly industries, like oil, gas and mining, in developing countries. How can the Netherlands achieve its sustainable goals and incorporate climate considerations into its investment decisions?
The World Bank, an institution that aspires to achieve global sustainable development, now wants to position itself as an environmental bank. This role does not seem like a natural fit and is inconsistent with the implementation of its policies. So, for example, its climate investment funds' criteria are not ambitious enough to realise a transition to (real) renewable energy.
Both ENDS, SOMO, Oxfam Novib and Recourse sent in a submission to FMO's public consultation on its Position Statement on Financial Intermediaries. In this position statement, FMO only takes limited responsibility for the consequences of its investments through so-called financial intermediaries. We call upon FMO to publish a position statement that focuses on protecting human rights and the environment and take full responsibility for this.
Because of the close relationship with their living environment, local communities often have the best ideas for the sustainable and equitable use and governance of land, water and forests. These environmentally just practices and processes successfully protect and restore ecosystems and address climate change. They are essential in the light of the multiple crises the world faces, but are in dire need of financial and policy support.
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.
