Both ENDS
On November 11th, the 29th UN Climate Conference will start in Baku, Azerbaijan. Just like previous years, Both ENDS will be there to advocate for local access to climate finance, and to support our partner organisations in their advocacy work. How do we do that, and what are our hopes (and worries) about this 29th edition of the UNFCCC COP? We asked Marius Troost, who will be joining COP29 together with Daan Robben.
Amsterdam, 29 August 2022 - A recent study by Both ENDS shows that, in the past decade, the Dutch government has provided on average a billion euros a year in insurance for fossil energy projects. At the end of last year, together with 33 other countries, the Netherlands agreed to stop providing this support by the end of 2022. Both ENDS calls on the government to formulate a resolute policy that leaves no room for exemptions that contribute to global warming by more than 1.5 degrees.
Since the signing of the Paris Climate Agreement, rich countries have provided almost 50 times as much export support for fossil fuel related projects as for clean energy projects in four African countries. This is the conclusion of a report written by five environmental organisations from Ghana, Nigeria, Togo and Uganda, in cooperation with Friends of the Earth Netherlands and Both ENDS. The rich countries insured energy projects with a total value of 11 billion US dollars through their export credit agencies (ECAs). More than half of this export support is related to fossil fuels. Only 1% went to sustainable renewable energy.
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.
In October 2022, the Dutch government published a policy to implement the COP26 statement in which it promised to stop public finance for fossil fuel projects abroad by the end of 2022 . The proposed policy, unfortunately, has quite some 'loopholes' that make it possible for the Dutch government to keep supporting large fossil projects abroad for at least another year. These projects often run for years and will have a negative impact on the countries where they take place for decades to come.
The ocean emerged strengthened from the UN Ocean Conference in Nice. More countries are supporting a ban on deep-sea mining, more marine protected areas are being established, and more pledges are being made to fight pollution. The question now is whether countries will follow through on their commitments. Because the ocean movement faces a camp of powerful interests.
This article was originally posted in Dutch on MO*Magazine.
