The world has to stop using fossil fuels, but investment in the sector continues unabated. Investors of all kinds, including banks, insurance companies and pension funds, are hesitant about making the change to sustainable energy and are not sure where to start. In the autumn of 2019, together with the DivestInvest Network and Sustainable Energy (Denmark), Both ENDS published a report entitled ‘Managed Decline of Fossil Fuel Businesses’. The report describes five criteria to test whether companies in the fossil sector are actively taking steps to wind down their fossil activities. The criteria are helping investors to choose investments that are in line with the Paris goal of restricting global warming to a maximum of 1.5 degrees Celsius. We spoke to Lars Jensen, Senior Analyst at Sustainable Energy and lead author of the report.
The vast majority of climate finance is channelled to (and through) big institutions and large-scale projects, often without taking into account the wishes and interests of local communities. Both ENDS is working with diverse partners worldwide to address this problem, with a special focus on the Green Climate Fund (GCF).
Press release 24 October 2019
Starting today, investors can use five criteria to test whether companies in the fossil sector are actively working on phasing out their fossil activities. Too many investors still seem hesitant to switch to a profitable future of sustainable energy and these criteria should help them do this. The organisations DivestInvest Network, Sustainable Energy (Denmark) and Both ENDS (the Netherlands) publish the report "Managed Decline of Fossil Fuel Businesses" today, which describes these five criteria. The criteria aim to help investors choose investments that are in line with the Paris goal "stay below 1.5 degrees Celsius warming." The recommendations are presented at the World Pension Summit deliberately, because pension fund investors in particular can take more responsibility in this.
During the 24th Conference of the Parties (COP24) of the UNFCCC taking place in Katowice, Both ENDS partner Raju Pandit Chettri – director of Prakriti Resources Centre in Nepal - was one of the selected Southern leaders to meet with the Dutch Minister of Development Cooperation and Foreign Trade, Sigrid Kaag. We asked Raju about his expectations, messages, Kaag's responses and his experiences of the meeting.
This paper by Prakriti Resources Center (Nepal) sheds light on the gender and climate change nexus, gender mainstreaming as a tool to address gender inequality, gender and climate change policy landscape both at international and national level, gaps and way forward.
Globally, the area that is suffering desertification and land degradation is ever expanding. Unsustainable and often large-scale agricultural practices, including the copious use of pesticides and fertilisers, are a major driver of land degradation, aprocess that is further exacerbated by climate change, causing more erratic rainfall patterns, longer periods of drought and unpredictable growing seasons. This is very problematic not only for the hundreds of millions of people who directly depend on land and water for their livelihoods, but also for life on earth as a whole. It is clear that this process must be stopped and reversed, better sooner than later. But how to go about it?
The fifth session of our five part series on women's rights and climate finance, Experiences and Perspectives of Women Engaging in Climate Finance, shared the insights of three activists who have been serving as GCF Monitors as part of the "Women Demand 'Gender-Just' Climate Finance" initiative. They spoke about their processes of learning about climate finance and connecting with others to monitor climate finance in their communities and regions, discussed the value they have found in this work, and answered questions from webinar participants.