Both ENDS
On October 13th 2022, FMO published the final version of its Position Statement on Impact and ESG for Financial Intermediaries (FI statement). As civil society groups which have engaged with FMO on this topic for more than four years, we are extremely disappointed with the result. In the statement, FMO does not show sufficient commitment to ensuring its investments into financial intermediaries – which represent the bank's largest investment sector* – do not violate human rights or contribute to environmental harms.
The million-dollar loan that the Dutch development bank FMO provided to project developers of Honduran company DESA for the construction of the controversial Agua Zarca dam project in Honduras, may be related to gross corruption and malpractice. This is concluded in an article published today in the Dutch news paper Financieel Dagblad, based on information provided by COPINH, the indigenous organisation that has been opposing the construction of the dam for years. Several members of the organisation, including its leader Berta Cáceres, were murdered. DESA director David Castillo has recently been convicted of being involved in the assassination of Cáceres in 2016.
In May 2022, Minister Hoekstra of Foreign Affairs and Minister Schreinemacher for International Trade and Development Cooperation announced that also The Netherlands will work towards implementing a Feminist Foreign Policy (FFP). This means that within its Foreign Policy, the Netherlands will pay more attention to inclusivity in general and specifically to women's rights and gender equality, including LGBTIQ+. This feminist lens will be central to all aspects of foreign policy; security, trade, diplomacy and international cooperation.
To foster an inclusive process and acquire insights in what a Dutch FFP should look like, the Ministry of Foreign Affairs opened an internet consultation. Both ENDS welcomes the FFP and therefore gladly shares its input and suggestions.
The decision of Minister for Climate and Energy Rob Jetten to withdraw from the Energy Charter Treaty (ECT) is good news for the energy transition in the Netherlands and beyond. Governments of countries that are party to this treaty can therefore shape the transition to sustainable energy without having to fear claims by Dutch-based businesses.
Last year at COP26, the Netherlands, alongside 38 other governments and institutions, committed to the Glasgow Statement on International Public Support for the Clean Energy Transition. By signing this statement, the Netherlands has committed to ending new direct public support for the international unabated fossil fuel energy sector by the end of 2022- a commitment it has yet to deliver.
With this letter, 20 civil society organisations call on the Netherlands to announce its implementation policies for the Glasgow Statement ahead of the Export Finance for Future (E3F) Summit on the 3 November. The E3F Summit is a critical opportunity for the Netherlands to uphold the commitments made in Glasgow last year, alongside all other E3F members.
The recent E3F transparency report highlighted that Netherlands insured 6x more fossil fuel transactions than renewables from 2015-2020, with 3 billion EUR in fossil fuel transactions compared to only 0.5 billion EUR in renewables. This demonstrates that a fossil-fuel exclusion policy for Dutch export support is urgent, and essential, to align the Netherlands with its Glasgow commitment and the Paris Agreement.
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.
Dutch export credit agency Atradius DSB announced yesterday that it is to provide export credit insurance worth 1,5 billion euros to Dutch dredging company Boskalis for a controversial land reclamation project in the Philippines. According to Dutch and international organisations, including Both ENDS, CARE Netherlands, IUCN NL, Kalikasan PNE and Oceana Philippines, the award of export credit insurance for this project runs contrary to the Netherlands' ambitions in the areas of environment and corporate social responsibility (CSR).
