Both ENDS
Last week Mark Rutte met with Ban Ki Moon, Bill Gates and World Bank Director Kristalina Georgieva in Davos. They are the chairpersons of the Global Commission on Adaptation, which was also founded by the Netherlands. This is an important organisation because, as Rutte wrote on Twitter, "climate change is the biggest challenge of this century," and as an international community we should "pay attention to the problems of the countries that are being threatened by climate change."
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.
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).
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.
After the second shocking murder of an indigenous rights activist in Honduras in less than two weeks the Dutch development bank, FMO, and the Finish development bank, FinnFund, announced a suspension of all their operations in Honduras. They declare that they will no longer engage in new projects or disbursements in the country, including in new disbursements in the Agua Zarca Project.
Last Wednesday, just before the summer recess, the Tweede Kamer (the Dutch Lower House) discussed Minister Koenders's policy memorandum: "Samen werken aan mondiale uitdagingen, Nederland en multilaterale ontwikkelingssamenwerking" (Working together on global challenges; the Netherlands and multilateral development cooperation). With 'multilateral' Koenders refers to the UN, Multilateral Financial Institutions (MFIs) such as the World Bank and the International Monetary Fund, the European Union and a number of global funds.
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.
In 2011 one of the world’s largest gas reserves was found in the coastal province of Cabo Delgado, in the north of Mozambique. A total of 35 billion dollars has been invested to extract the gas. Dozens of multinationals and financiers are involved in these rapid developments. It is very difficult for the people living in Cabo Delgado to exert influence on the plans and activities, while they experience the negative consequences. With the arrival of these companies, they are losing their land.
