Both ENDS
Standing in Belém during COP30, I felt the weight of the moment. We came to the Amazon hoping for decisive progress on phasing out fossil fuels, yet the final outcome fell far short of the ambition science and justice demand. The agreement brought welcome commitments on adaptation finance and global indicators, but it refused to confront the structural forces that make climate action so difficult.
Last June, President Obama called upon the national and international community to give no more public support to foreign coal. Shortly after this, the World Bank and the European Investment Bank EIB followed the example, setting stricter criteria for loans to energy companies, which will make it nuch more difficult, if not impossible for new coal plants to get financing from these banks.
The European Investment Bank (EIB) has announced a worrying change in their policy on transparency. One of the changes would result in EU citizens no longer being able to access internal EIB documents, even if they are of public interest. Several campaigners, including Both ENDS’ Pieter Jansen, have therefore urged the the Dutch Minister of Finance Jeroen Dijsselbloem to speak out against these plans on the next board meeting on September 16th.
Both ENDS is present at COP30 to advocate for genuine access to climate finance for locally led, gender-just climate solutions and the mechanisms that facilitate this, including those for farmer-led restoration. Furthermore, the organisation participates to ensure the crucial connection between the climate negotiations and the trade and investment frameworks that shape them.
Learn more about the Both ENDS team at COP30 below, and find all the activities and side-events in which Both ENDS will participate.
The Hague/San Francisco, Dec 12, 2024 - The updated version of the Financial Exclusions Tracker is released today: financialexclusionstracker.org. The website tracks which companies are being excluded by institutional investors, pension funds and banks due to human rights, public health and sustainability issues. The most common reasons for exclusion are links to fossil fuels, weapons or tobacco.
The Financial Exclusions Tracker is an initiative from an international coalition of NGOs striving for more transparency and information disclosure.
Indigenous Hondurans are resisting the construction of the Agua Zarca hydrodam. Their fight has cost several lives, including that of Berta Cáceres. After considerable public pressure, Dutch development bank FMO withdrew from the project.
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.
