"How many layers of clothing are you wearing? One? No, that's not enough. You should wear your ski pants over your jeans, and change your shoes for snowboots." And there you are, on day 1 of your trip to Mongolia. I had already heard that Mongolia is very cold at the end of November, and with -22 degrees that seemed to be all true.
A year ago, the Senegalese NGO Takkom Jerry filed a complaint with the African Development Bank (AfDB) and the Dutch Development Bank FMO, with support from Both ENDS. These banks finance the Sendou coal power station, right next to the fishing village of Bargny. The AfDB has now recognized the complaint. FMO is already processing the complaint and will publish an official response shortly.
Senegal is one of the countries with the highest amount of effective sunshine on earth. Instead of using the 3000 hours of sunshine a year as a source of energy, 2 new coal fired power plants are now being built with the help of the Dutch development bank FMO, using public money. This video shows the consequences for the local population.
After nearly two years of discussions, the Organisation of Economic Cooperation and Development (OECD) member countries have reached an agreement on reducing their support to some coal plants through their export credit agencies (ECAs). The agreement comes a day after the G20 has reiterated its willingness to reduce inefficient fossil fuel subsidies and only 12 days before the start of COP21, the climate change conference. The agreement, which takes effect in 2017, still allows the most efficient “ultra-supercritical” plants, and less efficient plants in the very poorest countries.
For a moment it appeared that the European Investment Bank (EIB) decided to stop investments in coal fired power plants. The bank even seemed to have issued a press release on the matter. But, unfortunately, the message was not real. During the annual press conference of the bank the activists, who were the source of the fake press release, stroke again. In the name of ‘the citizens of Europe’, EIB president Werner Hoyer was awarded with the ‘World Coal Down Award’. Hoyer, who was confused for a second, did not accept the award. The EIB fiercely denied the rumors surrounding the investment stop on coal with the term 'pure nonsense'.
The European Investment Bank (EIB) will clean up its act regarding coal plants. In recent years, the bank invested around 2 billion euro’s in polluting power plants which emit huge amounts of CO2. The EIB, which had a total capital base of 242 billion at the end of 2012, is doing business in 150 countries outside Europe.
The Netherlands provides export credit insurances and guarantees worth 1.5 billion euros annually to Dutch companies active in the oil and gas sector abroad. This support amounts to one and a half times the annual amount that the Cabinet of Prime Minister Rutte mobilises for climate initiatives worldwide. The intended effects of Dutch international climate policy are more than offset by this fossil export support. That is the conclusion of a new report from Both ENDS which is published today.