Global public support for coal is decreasing. Obama has pledged to stop American support for public financing of new coal plants outside the U.S., the World Bank has announced to phase out support for coal projects and some large private banks are withdrawing from fossil fuels. But what about export credit agencies (ECAs)? Until now, ECAs have not withdrawn from coal projects. On the contrary: while other investors gradually cease their support to coal projects, export credit agencies are investing in coal more than ever. On June 11, an alliance of 50 NGOs, including Both ENDS, published a recommendation to the OECD calling for an end to export credit support for coal.
The European Bank for Reconstruction and Development (EBRD) plans to give multinational Monsanto 40 million dollars to sell seeds and pesticides in Eastern Europe. Farmers and environmental groups from all around the world are shocked, since Monsanto is known for promoting genetically modified crops and pesticides. Today Both ENDS and partners from Eastern Europe requested the EBRD to stop this project.
What is the reason behind the European Investment Bank’s 500 million loan to the Brazilian development bank BNDES? The money, paid for by the European taxpayer, comes from the ‘climate funds’ intended for projects to stop climate change. Does this make BNDES the most logical choice? Anouk Franck went to Brazil to find out more about this loan.
In this time of crisis-driven reflection we can read telling analyses of past and present on all sides which are being translated into agendas for action. Many of the analyses address issues like inequality, climate, the financial sector, health care, education and women’s rights. They talk about ‘what’ and much less about ‘who’ or ‘how’.But a different future can only be built together with everyone, young and old, men and women. This future will not simply happen to us; we ourselves have a hand in it. It is time for new faces around the table, with new voices. It is time for a new future.
Our own Dutch development bank FMO recently introduced a complaints mechanism. This means that anyone adversely affected by a project supported by the FMO may file a complaint.
Amnesty International, Bank Track, Both ENDS and SOMO have contributed to the design of the complaints mechanism and have now issued a response to the final result.
Anouk Franck of Both ENDS has provided input into the complaints mechanism and explains why it is so important for institutions to have a good complaints mechanism.
Each year Both ENDS organises Political Cafés and expert meetings on development issues. Our work with Southern Civil Society Organisations often makes us aware of the negative effects of the policies of Multi Financial Institutions (MFIs), such as the World Bank and the IMF. The Political Cafés and expert meetings often focus on making these institutions more transparent. Working with our Southern partners we recently addressed the issue of the human right to water and sanitation, by holding a Political Café on this issue at the World Bank's headquarters in Washington DC.
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.