Global public support for coal is decreasing. Obama has pledged to stop American support for public financing of new coal plants outside the U.S., the World Bank has announced to phase out support for coal projects and some large private banks are withdrawing from fossil fuels. But what about export credit agencies (ECAs)? Until now, ECAs have not withdrawn from coal projects. On the contrary: while other investors gradually cease their support to coal projects, export credit agencies are investing in coal more than ever. On June 11, an alliance of 50 NGOs, including Both ENDS, published a recommendation to the OECD calling for an end to export credit support for coal.
Together with civil society organisations from all over the world, the Fair Green and Global (FGG) Alliance aims for socially just, inclusive and environmentally sustainable societies in the Netherlands and the Global South.
After nearly two years of discussions, the Organisation of Economic Cooperation and Development (OECD) member countries have reached an agreement on reducing their support to some coal plants through their export credit agencies (ECAs). The agreement comes a day after the G20 has reiterated its willingness to reduce inefficient fossil fuel subsidies and only 12 days before the start of COP21, the climate change conference. The agreement, which takes effect in 2017, still allows the most efficient “ultra-supercritical” plants, and less efficient plants in the very poorest countries.
A week ago, the twelfth ‘Conference of the Parties’ (COP12) of the United Nations Convention to Combat Desertification (UNCCD) took off in Ankara, Turkey. This convention originated from the Rio Conventions of 1992 and specifically focuses on desertification and land degradation. Karin van Boxtel of Both ENDS was there, and today, together with several other organizations that also attended the conference, she launches a document with recommendations for policymakers about the financing of the so-called ‘Land Degradation Neutrality’-concept, one of the many topics that fueled the discussions during the convention. So what is it, and why is it so important?
During the UNFCCC Climate Change Conference next week in Bonn, Both ENDS,Transparency International, Human Rights Watch and Carbon Market Watch will host the side event “Environmental and social accountability for results based finance - Lessons learned and ways forward’’. This event will discuss how lessons from International Financial Institutions can inform the design and operation of appropriate redress mechanisms for the Green Climate Fund and other private and public climate finance flows.