ABP promises to go green but sticks with fossil fuels

Pension funds have a lot of influence because of their enormous assets. Both ENDS therefore wants pension funds such as the Dutch ABP to withdraw their investments from the fossil industry and to invest sustainably instead.

In 2015 and 2019, the Brazilian state of Minas Gerais experienced two severe mining tragedies in Mariana and Brumadinho, due to the same mining company: Vale. Since then, the affected communities have been seeking justice, via the criminal punishment of the responsible parties, and a fair compensation for the loss of their loved ones, their homes and their livelihoods. Both ENDS supports local CSOs by amplifying their quest for justice within an international audience and, more specifically, by raising awareness amongst Dutch investors in Vale about the high risks this company’s activities pose for people and the environment.

In 2011 one of the world’s largest gas reserves was found in the coastal province of Cabo Delgado, in the north of Mozambique. A total of 35 billion dollars has been invested to extract the gas. Dozens of multinationals and financiers are involved in these rapid developments. It is very difficult for the people living in Cabo Delgado to exert influence on the plans and activities, while they experience the negative consequences. With the arrival of these companies, they are losing their land.

Both ENDS calls on the government only to provide export credit insurance to sustainable projects that cause no social and/or environmental damage in the countries where they take place.

Indigenous communities in Paraguay saw their attempts to regain their ancestral lands thwarted by German investors. In Indonesia, US-based mining companies succeeded to roll back new laws that were meant to boost the country’s economic development and protect its forests.  This is the level of impact that investment treaties can have on social, environmental and economic development and rights. Why? Because of the ‘Investor-to-State Dispute Settlement’ clauses that are included in many such treaties.

International trade agreements often have far-reaching consequences not only for the economy of a country, but also for people and the environment. It is primarily the most vulnerable groups who suffer most from these agreements. 

The network of international trade and investment treaties is large and complex. The Netherlands alone has signed more than 70 bilateral investment treaties (BITs) and is party to the trade and investment agreements concluded by the EU, like the EU-Mercosur and EU-Indonesia trade deals.

To address the climate crisis we need to urgently transition away from fossil fuels towards clean, renewable energy. However, this transition is not only about changing energy sources. It requires an inclusive and fair process that tackles systemic inequalities and demanding consumption patterns, prioritizes environmental and social justice, and which does not repeat mistakes from the past.