Both ENDS
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.
During the election debate between ten candidate MEPs (Members of European Parliament) yesterday evening in the Brakke Grond in Amsterdam, several issues are highlighted. Candidates explain how their parties think about the use of biofuels, mandatory production criteria for clothing sold in the EU and on the approach to tax avoidance. All participants acknowledge that there are problems related to these issues, but they differ on their preferred solutions to these problems. Tempers start to run high when the free trade agreement between the U.S. and the EU (TTIP) is discussed.
More than 100 international experts and social activists gathered from 5-8 November in Brussels, Belgium, for a 'Week of Action' to call attention to the negative effects of International Investment Treaties (IIA) on human rights and the environment.
Despite the fact that Laos recently let its neighboring countries know that the construction of the Xayaburi dam on the Mekong River would officially be put on hold, illegal construction activities appear to be taking place. In April this year, due to massive national and international protests, the Government of Laos felt obliged to suspend construction until the social and environmental impacts of the dam would be clearly examined. Around the spot where the dam was to be constructed however, people are being driven away from their land, a road has been built for the supply of building materials and forest is chopped down.
An order, issued by a Brazilian court against the construction of the Belo Monte dam, has been overruled by a higher court. The dam will have disastrous effects on the environment and the population in the area. Moreover, it is questionable whether the supposed benefits will outweigh the high costs and the damage done.
After five years of equivocation the European Commission has proposed a ‘roadmap’ for stepping-up EU action to address its contribution to global deforestation. Despite the escalating impact of EU trade in forest-risk commodities, regardless of repeated calls from the European Parliament for regulatory measures and contrary to the conclusions of the Commission’s own feasibility study in support of legislative intervention, the Commission has ruled-out out any new initiatives, let alone any legislative measures. The Commission’s solution to this complex problem: policy coherence.
Yesterday unexpectedly our Wetlands without Border programme suffered a tragic loss with the sudden passing of our dear colleague and friend Elias Dias Peña of Sobrevivencia, Paraguay.
In April 2021, the Dutch development bank FMO announced that it is no longer involved in the Barro Blanco project, a controversial dam in Panama. GENISA, the Panamanian company that built the dam, unexpectedly paid off the multi-million dollar loan early. The question is to what extent, now that the bank is no longer actively financing the project, FMO can still be held responsible for the damage and suffering that was caused when this was still the case.
