Both ENDS
Last week the 11th Round Table on Sustainable Palm Oil was held in Medan , Indonesia. One of the issues central to the discussions was the increasing conflict over land use, especially in Indonesia, but increasingly elsewhere in Asia, Africa and Latin America . The cause: the poorly controlled production of palm oil, a raw material for a wide range of products such as food and cosmetics, and as biofuel as an alternative to fossil fuels.
The planned initial public offering (IPO) of Malayan state-owned enterprise Felda Global Ventures Holdings (FGVH) will take place this month (28th June). It will be underwritten by Deutsche Bank, JP Morgan and Morgan Stanley; with an expected valuation of around 2.5 billion Euro this will be the second biggest IPO ever, trailing Facebook. A significant detail is that FGVH is controlled by the governing part UMNO, led by Prime Minister Mohd Najib Abdul Razak. The upcoming privatisation might be prompted by a need to generate capital for the upcoming elections.
The World Bank has agreed to suspend all new investments in the palm oil industry by the International Finance Corporation (IFC) - an independent body within the World Bank focused on the private sector - with immediate effect. In a letter to Both ENDS' partner Forest Peoples Programme, Robert Zoellick, President of the World Bank, writes that all existing investments will be re-examined, pending a number of guarantees that must limit damage to humans and the environment.
On September 23th the European Union and Indonesia concluded their negotiations of the EU-Indonesia Comprehensive Economic Partnership Agreement (CEPA), a free trade agreement between the EU and Indonesia. Both ENDS condemns this agreement for favoring corporate interests over those of local communities and the environment.
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.
Systemic change is urgently needed to protect the Earth's forests and the rights of forest peoples. Deforestation and forest degradation are driven by global demand for products like palm oil and soy. Tackling the problem requires not reduced demand and better policies and practices at international levels, but also improved recognition of community land rights – a key focus of our work with partners in 2020.
Recently, Dutch media covered the publication of a new report, issued by WWF, stating the big role the Netherlands still has in global deforestation, mainly due to our soy and palm oil imports. To counter this alarming message, Paul Wolvekamp and Tamara Mohr wrote an op-ed about the possibilities the Netherlands has to change the tide, which was published in Dutch on the website Joop.nl. Below, you find the English translation.
