Both ENDS
Since his previous government, prime minister Mark Rutte has wanted to create a green legacy with Invest-NL and Invest International, two new financial organisations. With the advent of the COVID-19 crisis, these organisations are more important than ever. Aiming to stimulate investment in sustainable and social projects, they will operate at a distance from the government so that they can act quickly and efficiently. With an initial budget of 2.5 billion euros, they will give financial support to companies active in sectors that the market avoids and which are at the heart of the transition. At Both ENDS, we see that as an essential step in closing the door for good on our old polluting lifestyle and putting sustainability at the centre of developments in the energy sector, in the organisation of our transport and mobility system, in how we produce our food and in the design of our cities.
This week the European Investment Bank (EIB), or ‘Europe’s house bank’, presented a concept policy note which outlines future policies on loans in the energy sector provided by the bank. Network organisations CEE Bankwatch and Counter Balance, both of which Both ENDS is a member, monitor policies and investments of the EIB. They find the new proposal very disappointing and have therefore sent a press release. Huub Scheele from Both ENDS, who has been working with our colleagues from CEE Bankwatch and Counter Balance for years, explains why.
The Asian Development Bank (ADB) and the World Bank will donate $23 million to the Philippines, but will also provide a loan of $500 million to this country for the reconstruction of the areas damaged by the storm. According to ‘NGO Forum on ADB,’ Both ENDS’ partner organisation, these banks abuse this crisis. The debt will have to be repaid with interest and Philippine society will end up paying the price.
And will James Amaya, the UN Special Rapporteur on the rights of indigenous peoples, ask the Panama government to halt the construction of the disastrous dam for the time being? This is what Both ENDS calls for in a letter to mr. Anaya, together with 12 civil society organizations, including four from Panama. It’s urgent because the Barro Blanco Dam, planned in the Tabasará river, is destructive to the Ngäbe indians.
The network of international trade and investment treaties is large and complex. The Netherlands alone has signed more than 70 bilateral investment treaties (BITs) and is party to the trade and investment agreements concluded by the EU, like the EU-Mercosur and EU-Indonesia trade deals.
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.
The European Investment Bank (EIB) disbursed an additional EUR 40 million for the Bujagali dam in Uganda while complaints from the local communities are still waiting for a response. The dam is controversial because of its tremendous social and environmental impact. "By neglecting its own complaint mechanism, the EIB proves that its policy is nothing more than a green washing machine", several civil society organisations state.
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.
