Joint press release from Both ENDS and Fossielvrij NL - 26 March 2019
A group of 22 wealthy Dutch investors have decided to disinvest all their personal capital, worth a total of 200 million euros, from the top 200 oil, gas and coal companies. The investors have pledged to disinvest all their capital from the fossil industry within three to five years. By doing so, they are giving a clear signal that they do not want their capital to contribute to disastrous climate change.
More than 20 NGOs co-signed a statement expressing their concern on the accreditation of Deutsche Bank as implementing partner of the Green Climate Fund. The signatories, including Both ENDS are disappointed about the lack of transparency of the accreditation.
October 10th the fifth board meeting of the Green Climate Fund took place, this time in Paris. The Green Climate Fund is an international fund set up and commissioned by the United Nations in order to help developing countries combatting the negative effects of climate change. Possibly, developing countries are granted with an amount of $100 billion a year! Although the financial support is very promising, opinions differ widely on how that money should be spent. Therefore Anouk Franck and Annelieke Duma of Both ENDS attended, along with Titi Soentoro of the Indonesian organization Aksi! and Jorge Daneri of M'Bigua from Argentina, to make sure that the money gets where it is most needed.
Almost two-thirds of the export credit insurances that Atradius DSB provided in the 2012-2018 period went to the fossil energy sector. That is contrary to the climate agreements that the Netherlands signed in Paris.