The European Investment Bank (EIB) has today failed to agree a new energy lending policy that proposed to end its financing of fossil fuel projects from 2020.
Voting on the policy was expected to take place in Luxembourg today at the meeting of the Bank’s board, made up of representatives from every EU member state, but the decision has for the second time been postponed, likely to November.
This week (14-18 October 2019) marks another round of negotiations on a historic UN treaty on transnational corporations and human rights will take place in Geneva. On the agenda is the first draft of the treaty that was published in July by Ecuador, the country chairing the process.
New research published today reveals the devastating consequences of the controversial Investor-State Dispute Settlement (ISDS) system. A common ingredient in international trade and investment agreements, ISDS creates a parallel justice system that rolls out the red carpet for corporations to sue states when they act in the public interest.
In 2017 the Nigerian community of Ikebiri launched a court case against the Italian oil company ENI demanding clean-up of and compensation for an oil spill caused in 2010 by the failure of ENI’s pipeline. Friends of the Earth Europe and Environmental Rights Action/Friends of the Earth Nigeria (ERA) have been supporting the community in this unprecedented court case which was started in Italy in January 2018.
Friends of the Earth has today delivered a court summons to Shell at its headquarters in the Hague, to legally compel the company to cease its destruction of the climate, in a historic climate litigation on behalf of more than 30,000 people from 70 countries.
Exxon-Mobil's tactics of deliberately spreading false information on climate change have been exposed today in a public hearing in the European Parliament.
But the company’s refusal to attend the hearing has led a growing number of Members of the European Parliament to back calls to strip Exxon-Mobil lobbyists of their parliamentary access badges.
Myriam Douo, transparency campaigner for Friends of the Earth Europe said:
The EU has decided to drop out of UN negotiations on a binding treaty to make multinational corporations accountable for human rights abuses committed overseas, according to leaked documents seen by Friends of the Earth Europe.
Three years ago, Honduran activist and community leader Berta Cáceres was brutally murdered. Every year, around 200 environmental defenders are killed or assaulted around the world - crimes that are often linked to multinational companies violating human rights. Only a binding agreement on a global basis could put an end to this horrendous injustice.
Last week, governments met at the United Nations in Vienna to discuss potential changes to the ISDS (Investor-State Dispute Settlement) system. This parallel justice system, benefitting multinationals and elite corporate lawyers, has been widely criticised around the world for its damaging impacts on the environment, on democracy and on public budgets.