Both ENDS
The value of ABP's pension fund investments in fossil fuel companies has fallen by 44% from end of last year to its lowest point on March 16 this year, while the value of the rest of the portfolio decreased by 26%. This impact can be seen in simulations based on the publicly available equity portfolios of Dutch pension funds ABP and Zorg en Welzijn (PFZW), carried out by research agency Profundo on behalf of Both ENDS. The simulations show that the risks of investing in the fossil fuel sector are increasing.
Last week, the first tickets for the World Cup in Brazil went on sale. A total number of around 3.3 million tickets will be available, costing between $90 and $990 each. But who will benefit? Recent demonstrations in Brazil have revealed that the World Cup in 2014 is not all good news, as the majority of the Brazilians seemed to have believed for a long time. Our colleagues from CASA, a Brazilian small grants organisation focusing on environmental issues and sustainable development, are looking for practical ways to turn the tide and make a positive contribution.
On July 23rd the World Bank board of directors will discuss the Bank’s safeguards review: In the coming months, the World Bank revises its social and environmental safeguards and according to Both ENDS programme officer Pieter Jansen this offers opportunities to encourage the Bank to strengthen them . This would improve the level of protection of people and the natural resources they depend on in World Bank projects. But if the Bank decides to make the safeguards more flexible instead, its investments could have more negative consequences for local populations and their habitat. Civil society organisations have repeatedly expressed their concerns, and since it’s almost the 23rd, Pieter makes a last attempt to make the World Bank aware of its responsibility: on behalf of Both ENDS he sent a letter with recommendations to Frank Heemskerk, the Dutch executive director at the World Bank. Pieter explains.
Guest blog
Saturday morning, call time at the office is five o'clock. The group of ten people arriving is still half asleep. Like almost every weekend Kalikasan PNE, the organisation where I'm conducting my internship, organizes a field trip. Today, we will we visit one of the fisher communities in Bulakan, where the new airport of Manila is planned.
The climate debate in the Netherlands is bogged down in what we can change at home and does not touch on our actions abroad. And that is a missed opportunity. Precisely because our international trade model is both so influential and, at the same time, such a widespread cause of pollution, changes in that policy can have an immediate effect.
