The planned initial public offering (IPO) of Malayan state-owned enterprise Felda Global Ventures Holdings (FGVH) will take place this month (28th June). It will be underwritten by Deutsche Bank, JP Morgan and Morgan Stanley; with an expected valuation of around 2.5 billion Euro this will be the second biggest IPO ever, trailing Facebook. A significant detail is that FGVH is controlled by the governing part UMNO, led by Prime Minister Mohd Najib Abdul Razak. The upcoming privatisation might be prompted by a need to generate capital for the upcoming elections.
A lot of talking is going on about what should be done after 2015, when the Millennium Development Goals will come to an end and new agreements must be made to stimulate global sustainable development. But that’s easier said than done. Nathalie van Haren from Both ENDS attended a so-called 'post-2015 conference’ in Bonn, Germany. Why was it held and what did Nathalie do there?
The Mandalika International Street Circuit is a street circuit in the resort of Mandalika in Central Lombok in West Nusa Tenggara Province. The project, mainly intended to attract tourists, is largely financed by the Asian Infrastructure Investment Bank (AIIB).
This week we heard the sad news from Flint, Michigan, that Sandra Smithey has passed away. Sandra was for many years our pillar of support at the CS Mott Foundation. The foundation has supported the work of Both ENDS and of partners like Casa Fund and the NGO Forum on the ADB for more than 20 years, both financially and with its wide-ranging knowledge. One of Sandra’s ambitions was to make international money flows, such as development funding via the World Bank but also, for example, export credit insurance, fairer and more sustainable.
Most Dutch pension funds and their asset managers do not vote consistently in favour of climate resolutions at the oil and gas companies and banks in which they invest. That is the conclusion of a report published today by Both ENDS and Groen Pensioen. Eleven of the twelve* Dutch pension funds studied have made public statements and pledges about adapting their policies in line with the Paris Climate Agreement. But their voting behaviour does not sufficiently correspond with these pledges. Only pension fund PME votes for 100% in line with its own climate promises.
"If it is the fossil fuel-based ‘real economy’ that is driving us toward catastrophic climate change, it is the financial world behind the steering wheel." Therefore in 2019, Both ENDS worked towards fossil free investments by both individuals and public institutions such as the European Investment Bank (EIB).