Both ENDS
In October 2022, the Dutch government published a policy to implement the COP26 statement in which it promised to stop public finance for fossil fuel projects abroad by the end of 2022 . The proposed policy, unfortunately, has quite some 'loopholes' that make it possible for the Dutch government to keep supporting large fossil projects abroad for at least another year. These projects often run for years and will have a negative impact on the countries where they take place for decades to come.
Today, a letter, undersigned by almost 60 organisations from countries that face the consequences of fossil fuel projects or stand in solidarity, has been sent to the Dutch Members of Parliament. This Thursday, a debate about the export credit facility and the policies around it, will take place in the Dutch Parliament. The coalition calls upon Dutch politicians and policy makers to stand up against any form of export support for fossil fuel projects that are to be executed by Dutch companies abroad, expecially in the global South.
Last year at COP26, the Netherlands, alongside 38 other governments and institutions, committed to the Glasgow Statement on International Public Support for the Clean Energy Transition. By signing this statement, the Netherlands has committed to ending new direct public support for the international unabated fossil fuel energy sector by the end of 2022- a commitment it has yet to deliver.
With this letter, 20 civil society organisations call on the Netherlands to announce its implementation policies for the Glasgow Statement ahead of the Export Finance for Future (E3F) Summit on the 3 November. The E3F Summit is a critical opportunity for the Netherlands to uphold the commitments made in Glasgow last year, alongside all other E3F members.
The recent E3F transparency report highlighted that Netherlands insured 6x more fossil fuel transactions than renewables from 2015-2020, with 3 billion EUR in fossil fuel transactions compared to only 0.5 billion EUR in renewables. This demonstrates that a fossil-fuel exclusion policy for Dutch export support is urgent, and essential, to align the Netherlands with its Glasgow commitment and the Paris Agreement.
Today, a week before the international climate summit in Egypt, the Dutch Government has broken a major climate promise it made last year to end public financing for international fossil fuel projects. International and Dutch NGOs argue that the new policy published by the Dutch Government on restricting finance for fossil fuels has such significant loopholes, that it essentially means The Netherlands has reneged on its promise.
The Dutch export credit agency Atradius DSB is not aligned with the Paris Climate Agreement; on behalf of the Dutch State, it continues to strongly support investments in fossil fuels. This is the conclusion of a report by German research agency Perspectives Climate Research (PCR), in which the export credit agencies of the Netherlands and Japan are measured in terms of their climate ambitions and alignment with the Paris Agreement.
Both ENDS works with partners worldwide to amplify the voices of communities that are experiencing first-hand the devastating social and environmental impacts of unsustainable financial policies and practices – from climate change to pollution to forced displacement. For more than two decades, we have worked to draw attention to an obscure, yet hugely influential type of financial institution: export credit agencies (ECAs).
Climate action is urgently needed to slow down global warming. The effects of climate change are already showing themselves. Floods in Pakistan and closer to us, in the Netherlands, are causing loss of life and much emotional and economic damage, while local climate solutions are still largely being ignored. That's why Both ENDS is going to participate in COP27, the climate conference in Sharm El Sheikh, Egypt.
