Good news for the climate: last week, the European Investment Bank (EIB) decided to stop investing in fossil fuels by 2021. This is part of its new energy strategy.
Globally, the area that is suffering desertification and land degradation is ever expanding. Unsustainable and often large-scale agricultural practices, including the copious use of pesticides and fertilisers, are a major driver of land degradation, aprocess that is further exacerbated by climate change, causing more erratic rainfall patterns, longer periods of drought and unpredictable growing seasons. This is very problematic not only for the hundreds of millions of people who directly depend on land and water for their livelihoods, but also for life on earth as a whole. It is clear that this process must be stopped and reversed, better sooner than later. But how to go about it?
Pension funds have a lot of influence because of their enormous assets. Both ENDS therefore wants pension funds such as the Dutch ABP to withdraw their investments from the fossil industry and to invest sustainably instead.
Every 10 years, the mandate and activities of 'Export Development Canada' (EDC), the Canadian export credit agency, are reviewed. Since the last review took place in 2008, another review is currently underway. Both ENDS and a couple of other CSOs working from a number of countries made a joint submission as formal input to the legislative review. We did this especially in light of the Canadian governments' ambition to show leadership on climate change and to prioritise climate change action and clean economic growth.
The EU is still one of the world’s largest importers of deforestation: EU demand for commodities like soy, palm oil, beef, coffee and cacao requires millions of hectares of tropical rainforest to be cleared. This deforestation has significant biodiversity and climate impacts, and is often linked to human rights violations and violence against local communities and indigenous peoples. Both ENDS and partners have been actively lobbying the EU Commission to adopt a robust action plan to address and prevent human rights violations and deforestation ‘embodied’ in EU imports of agricultural commodities.
The European Investment Bank EIB should get rid of its gas-investments, and the Netherlands can take the lead in this. The Netherlands appears to be relying less and less on gas in its energy policy, and also seems to focus on gas-free investments at the EIB. Now it is important to maintain this position and also convince the other EU countries.