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.
Earlier this month, the Energy Charter Treaty (ECT) has decided to halt the geographic expansion to new member states, pending the finalization of the ongoing modernization process within the ECT. Both ENDS and our partner SEATINI, who amongst other things have been calling for this stop, welcome this decision.
We have already defined our own Green New Years resolutions!
Earlier this month, the seven men found guilty of the murder of Berta Cáceres were sentenced to jail for periods between 30 and 50 years. The court confirmed its opinion that Berta Cáceres was murdered for her role in defending the rights of the indigenous Lenca communities.
At the end of November, the organisations WALHI South Sulawesi (part of Friends of the Earth) and Both ENDS filed a formal complaint with the Dutch export credit agency Atradius DSB. Despite the warnings from local communities for the negative consequences of a land reclamation project in the bay of Makassar, Atradius DSB advised the Dutch government to provide dredging company Boskalis with insurance for the execution of the project. The consequences for the fish stock, the beach and the lives of thousands of small-scale fishing communities are severe. Atradius DSB has not sufficiently investigated these harmful consequences beforehand.
No fewer than 55 NGO's, foundations and associations, many of whom do not normally deal primarily with climate change, express their concern about the dangers of climate change for everyone and everything in the statement 'The climate belongs to everyone'.
They call for urgent action and support the international Climate Strike taking place this Friday, November 29. In cities all over the world, young and old will take to the streets again. In the Netherlands too, climate strikes will be organised in many cities.
Good news for the climate: last week, the European Investment Bank (EIB) decided to stop investing in fossil fuels by 2021. This is part of its new energy strategy.
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.
On Thursday November 7th, a group of European NGO's including Both ENDS, sent a letter to Vice-President of the EU Frans Timmermans, in which they ask him to support the phase out of European Investment Bank’s fossil fuel financing by the end of 2020.
After a complaint filed by women's groups from Ixquisis, Guatemala, the Interamerican Development Bank (IDB) has started an investigation on several policy violations, amongst which the Gender Equality policy. This is a unique chance to create a precedent, because complaints on the IDB's gender policy are very rare. The women from Ixquisis are fighting for their rights with support of the Global Alliance for Green and Gender Action (GAGGA).