Water Markets and Market Mechanisms

On October 13th 2022, FMO published the final version of its Position Statement on Impact and ESG for Financial Intermediaries (FI statement). As civil society groups which have engaged with FMO on this topic for more than four years, we are extremely disappointed with the result. In the statement, FMO does not show sufficient commitment to ensuring its investments into financial intermediaries – which represent the bank's largest investment sector* – do not violate human rights or contribute to environmental harms.

After a busy week filled with side-events, meetings, negotiations and covid, our colleagues Daan and Niels are back in the office in Utrecht. Together, they look back to their expereiences and results during the climate conference COP27 in Egypt.

At this year's UN Climate Conference COP27, Bhavya George, Climate Change coordinator of our partner organisation Keystone Foundation won one of the Gender Just Climate Solutions awards. Her project "Women Barefoot Ecologists", which also is supported by the Global Alliance for Green and Gender Action (GAGGA), won in the category "Transformational Solutions".

In October 2022, 150 women from 14 African Countries gathered in Port Harcourt, Nigeria for the first African Women's Climate Assembly. The aim of this Assembly was to strengthen and unify women-led struggles against dirty extractives and false solutions to the climate crisis in West and Central Africa, and propose the real development solutions that support women's interests in a good and decent life and livelihoods in a time of climate crisis.

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.

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.

Update October 27th:

Today our friends have been released after five nights in detention. We welcome this great news and we are happy and relieved that Babacar Diouf and the others who were arrested will soon be back with their loved ones.

Nonetheless this was a very bad signal from Senegalese authorities and police and an indication of the growing restriction on civic space in Senegal. It is unacceptable that freedom of expression is restricted, people should not have to go to jail for peacefully expressing their opinion - especially when their livelihood is at stake.

The decision of Minister for Climate and Energy Rob Jetten to withdraw from the Energy Charter Treaty (ECT) is good news for the energy transition in the Netherlands and beyond. Governments of countries that are party to this treaty can therefore shape the transition to sustainable energy without having to fear claims by Dutch-based businesses.

The Dutch government and Dutch businesses spend a lot of money on food production in developing countries. But, according to Karin van Boxtel, policy officer at Both ENDS, far too little of that money finds its way to sustainable, nature-inclusive producers.