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.
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.
Karin van Boxtel (35) is the new director of environment and human rights organisation Both ENDS. Karin has been running the organisation temporarily, together with Annelieke Douma, since the departure of the previous director, Danielle Hirsch. She has now been appointed permanently to make Both ENDS stronger and more future-proof. Karin will take up her new post on 1 September. Until then, she will continue as co-director on an interim basis.
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.
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.
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.