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.
Both ENDS and Oxfam Novib welcome the new SDG Loan Fund launched by FMO. The fund aims to invest more than a billion euros in loans to small and medium-sized enterprises in low- and middle-income countries, in the energy, inclusive financial services and sustainable agriculture sectors. At the same time, both organisations are concerned about the impact of money from the fund on normal people in future recipient countries.
Ikal Angelei, founder of Friends of Lake Turkana in Kenya, a partner organisation of Both ENDS, received the prestigious Goldman Environmental Prize this week for her battle against the construction of the infamous Gibe 3 dam in Ethiopia. The construction of this dam would severely damage the ecosystem around Lake Turkana and have disastrous consequences for the indigenous people and their natural habitat.
The European Parliament in its plenary session on the 5th of April, adopted a proposal to regulate Export Credit Agencies (ECAs) that will force them to become more transparent on where their funds come from, and go to, as well as how they count social and environmental risks. Furthermore, the Parliament requires ECAs to comply with EU human rights objectives in their activities, and to phase out the subsidising of fossil fuel projects in line with commitments adopted by the G20 in 2009.
To address the climate crisis we need to urgently transition away from fossil fuels towards clean, renewable energy. However, this transition is not only about changing energy sources. It requires an inclusive and fair process that tackles systemic inequalities and demanding consumption patterns, prioritizes environmental and social justice, and which does not repeat mistakes from the past.
