Export credit agencies (ECAs) play a central role within the complicated web of global development finance. In 2018, Both ENDS invested in strengthening cooperation among organisations working on ECAs, building a strategic global collaboration to stop ECAs' support of fossil fuels and improve their environment and human rights record.
Press release 24 October 2019
Starting today, investors can use five criteria to test whether companies in the fossil sector are actively working on phasing out their fossil activities. Too many investors still seem hesitant to switch to a profitable future of sustainable energy and these criteria should help them do this. The organisations DivestInvest Network, Sustainable Energy (Denmark) and Both ENDS (the Netherlands) publish the report "Managed Decline of Fossil Fuel Businesses" today, which describes these five criteria. The criteria aim to help investors choose investments that are in line with the Paris goal "stay below 1.5 degrees Celsius warming." The recommendations are presented at the World Pension Summit deliberately, because pension fund investors in particular can take more responsibility in this.
Both ENDS' Niels Hazekamp and Daan Robben are joining the Climate CoP in Bonn to actively follow the negotiations, with a special focus on certain topics such as subsidies and support for fossil fuels, climate finance, climate adaptation, and gender. Both ENDS also co-organises a side event together with the International Institute for Environment and Development (IIED).
Last June, Both ENDS published a report which showed clearly that, through export credit insurance provider Atradius Dutch State Business (ADSB), the Netherlands is supporting the fossil fuel sector on a large scale. Between 2012 and 2015, ADSB provided billions of euros in insurance and guarantees, on behalf of the State of the Netherlands, to fossil-related export projects. This support is completely out of line with the Paris Climate Agreement. On 20 June, members of parliament Lammert van Raan (PvdD) and Sandra Beckerman (SP) submitted questions to the State Secretaries for Finance and for Infrastructure and the Environment.
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.
After nearly two years of discussions, the Organisation of Economic Cooperation and Development (OECD) member countries have reached an agreement on reducing their support to some coal plants through their export credit agencies (ECAs). The agreement comes a day after the G20 has reiterated its willingness to reduce inefficient fossil fuel subsidies and only 12 days before the start of COP21, the climate change conference. The agreement, which takes effect in 2017, still allows the most efficient “ultra-supercritical” plants, and less efficient plants in the very poorest countries.