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.
The Dutch pension fund, ABP, invested about two billion euros more in the fossil energy industry at the end of 2016 than the year before. This is announced by the report "Dirty & Dangerous: the fossil fuel investments of Dutch pension fund ABP," published today by Both ENDS, German urgewald and Fossielvrij NL. The report criticizes these investments because of the impact on the climate and the catastrophic consequences for the people in the areas where coal, oil and gas are being produced.
The European Investment Bank (EIB) has published its new policy for energy investments. In the new draft policy, the bank states to stop investing in fossil fuel related projects from 2020. This is good news for the climate, so Both ENDS and partners are happy with this draft policy. The shareholders of the bank, the member states of the European Union, still have to approve it.
A broad coalition of Dutch companies, knowledge institutes and civil society organizations wants to work together with the new government to make a real difference in improving global food security. The main focus will lie on supporting farmers and consumers in the Netherlands and beyond, and promoting climate-proof food systems in low- and middle-income countries. The coalition believes that, with our knowledge, expertise, experience and reputation for international cooperation and trade, the Netherlands must adopt an ambitious strategy for making our food systems more sustainable, and so contribute to achieving the targets in the Paris Climate Accord and the Sustainable Development Goals.
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.
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.
Atradius Dutch State Business (Atradius DSB) remains responsible for observing social, environmental and human rights, also after providing export credit insurance. That is the conclusion of the Dutch National Contact Point (NCP) for the OECD Guidelines in its final statement, which was published today. Both ENDS issued a press release about this.
Both ENDS calls on the government only to provide export credit insurance to sustainable projects that cause no social and/or environmental damage in the countries where they take place.