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, 122 civil society groups are releasing letters to eleven government signatories to the Glasgow Statement on International Public Support for the Clean Energy Transition, laying out the actions they must take as soon as possible to meet their commitment. In this joint statement at COP26, 35 countries and 5 public finance institutions committed to end their international public finance for 'unabated' fossil fuels by the end of 2022, and instead prioritise their "support fully towards the clean energy transition."
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.
16 civil society organisations including Both ENDS have written a letter of concern to the European Investment Bank about a newly proposed standard for the Bank its intermediate finance investing. Both ENDS contribution to the contents of the joint letter consists out of proposals for improvement of screening, scoping, due diligence, appraisal, monitoring and supervision of high-risk clients and sub-projects. through financial intermediaries and clear and mandatory social, environmental and human rights requirements for FI investing matters.
The global funding landscape for civil society movements is changing, and is increasingly faced with policies that restrict funding streams, limit philanthropic work, and silence critical voices. These are not incidental shifts but part of a broader pattern that erodes the support for those international networks and movements under the guise ‘necessary financial cuts’, ‘aid reform’ or ‘efficiency’.
Export credit agencies (ECAs) play a central role within the complicated web of global development finance. In 2018, Both ENDS invested in strengthening cooperation among organisations working on ECAs, building a strategic global collaboration to stop ECAs' support of fossil fuels and improve their environment and human rights record.
Investment treaties must be inclusive, sustainable and fair. That means that they must not put the interests of companies before those of people and their living environment.
