Update October 27th:
Today our friends have been released after five nights in detention. We welcome this great news and we are happy and relieved that Babacar Diouf and the others who were arrested will soon be back with their loved ones.
Nonetheless this was a very bad signal from Senegalese authorities and police and an indication of the growing restriction on civic space in Senegal. It is unacceptable that freedom of expression is restricted, people should not have to go to jail for peacefully expressing their opinion - especially when their livelihood is at stake.
In a new Position Statement on Financial Intermediary (FI) Lending, Dutch development bank FMO argues for limited responsibility over the outcomes investments that are channeled through commercial banks, investment funds, and other financial intermediaries, representing by far the bigger sector of its portfolio. In doing so, FMO is undermining its development mission, including the protection of human rights and addressing the climate crisis. FMO intends to delegate these key responsibilities to its FI clients only, falling short of best practices of peer financial institutions. In a joint submission prepared by Both ENDS, Oxfam Novib, Recourse and SOMO, we argue that FMO can do much more to ensure the protection of human rights, the environment, and to measure the development impact of its indirect investments.
In these times of worldwide lockdown all attention is focused on the care sector, on the sorrow of those who are losing their loved ones, on children getting home-schooling and the neighbour who can no longer go the supermarket herself. Politicians and civil servants are hard at work trying to control the COVID-19 crisis and the economic crisis it has caused.
Today, the Netherlands announced that it will join a leading group of countries, including the United States, Canada and Italy, which declared that they would stop international support for fossil energy projects. At the day of the launch of the declaration at the climate summit in Glasgow on the 4th of November, the Netherlands had no intention of joining, but because of pressure from civil society and political parties, the responsible ministries decided to sign after all. Both ENDS, together with organizations at home and abroad, has been pushing for this for years, and we are very happy with this step. We will of course continue to monitor developments.
(This interview was published on January 18th in Inside Philantrophy)
Most people in philanthropy don't enter the sector because they have dreams of working in a financial institution. But that's exactly what they're doing. The philanthropic sector as we know it today was deliberately designed by the robber barons of the early 19th century as a response to extreme wealth inequality they created through exploitative labor practices in the oil, steel and shipping industries. Whether to genuinely make amends for the harms they created or to engage in reputation washing, the industrialists cornered the market on philanthropy, guarding against legal challenges to its tax shelter functionality and curtailing regulatory legislation that could induce democratic decision-making. Today, the value of philanthropy stands at about $2.3 trillion, which is 3% of the global economy.