A coalition of NGOs today launched the Financial Exclusions Tracker, a new website that tracks which companies are being excluded by investors and banks for sustainability reasons. Most excluded corporations are barred due to links to fossil fuels, weapons or tobacco.
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.
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.
Both ENDS has two new interim directors from November 9: Annelieke Douma and Karin van Boxtel. After 15 years, Danielle Hirsch hands over the directorship. She is currently standing for election to the GroenLinks/PvdA list. Annelieke and Karin will lead Both ENDS during the transition period to a new director of Both ENDS. Together with the board and the organisation, the new directors duo is full of energy to get to work in the coming months.
A letter written by Both ENDS, co-signed by 350.org, Australia, Urgewald, Germany, Green Alternative, Georgia, and others, with comments to the AIIB's Energy Strategy Issues note. This strategy prioritizes large scale energy infrastructure, which fails to meet the energy needs of local communities.
The AIIB has the opportunity to champion financing green energy systems for future generations by leapfrogging the large energy infrastructure that rely on fossil fuels, plantations for biomass or dams.
Today, a letter, undersigned by almost 60 organisations from countries that face the consequences of fossil fuel projects or stand in solidarity, has been sent to the Dutch Members of Parliament. This Thursday, a debate about the export credit facility and the policies around it, will take place in the Dutch Parliament. The coalition calls upon Dutch politicians and policy makers to stand up against any form of export support for fossil fuel projects that are to be executed by Dutch companies abroad, expecially in the global South.
Today, two independent experts brought out a legal opinion on the obligations of countries and their export credit agencies under international law in relation to export support for fossil fuels. According to the report, emissions by fossil fuels and the related infrastructure need to be reduced urgently.