Asian Peoples' Movement on Debt and Development

A regional alliance of peoples’ movements, community organizations, coalitions, NGOs and networks

 

Ecological Debt, Environmental Justice & Climate Change

Green Climate Fund: Updates from the 12th board meeting

The 12th board meeting of the Green Climate Fund was held in Songdo, South Korea last March 8-10, 2016, although preparatory meetings of Civil Society Organizations (CSOs) and the GCF informal meeting began days earlier. 
 
APMDD coordinator Lidy Nacpil is the new Southern CSO active observer in the GCF Board. Other members of the secretariat sent the following dispatches from Songdo specifically for APMDD members and Southern CSOs: 

Day 0: Civil society calls

1. NO to funding fossil fuels and false solutions! NO to HSBC and Credit Agricole!

• Fossil fuel-funding record of applicant entities must be assessed before accreditation

• An emphasis on climate technologies in the draft strategic plan can open the door to harmful technologies

• Full CSO statement vs. HSBC and Credit Agricole as accredited entities: http://webiva-downton.s3.amazonaws.com/877/be/8/7536/3-1-16_no-hsbc-ca-gcf.pdf 

2. YES to prioritizing direct access of developing countries and vulnerable communities! YES to GCF providing for full-cost grant financing!

a. NO to 80% ceiling for grant financing

b. NO to project preparation funding for international access entities

c. YES to Enhanced Direct Access as primary access modality

d. YES to actively promoting gender equality, IP rights and community rights

• None of the 22 projects with more than a 50% chance of getting approved by the GCF Board this year are direct-access proposals from the public sector 

3. YES to gender responsiveness (beyond gender sensitivity)!

a. Achieve gender balance in GCF Board: There are only 3 women out of 24 board members 

b. Fully implement the GCF gender policy and action plan

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UN climate fund must reject HSBC, Crédit Agricole - Asian movements

Asian Peoples Movement on Debt and Development

PRESS RELEASE

UN climate fund must reject HSBC, Crédit Agricole - Asian movements

Both banks fund dirty energy, say civil society groups

SONGDO, South Korea, 7 March 2016 -- An alliance of Asian people’s movements joined over 170 civil society groups worldwide in calling for the main UN Green Climate Fund (GCF) to reject the partnership bids of HSBC and Crédit Agricole.

“If the Green Climate Fund is serious about helping developing countries cope with climate change, it must not partner with dirty energy funders like HSBC and Crédit Agricole,” said Lidy Nacpil, coordinator of the Asian Peoples’ Movement on Debt and Development (APMDD) and active observer for Southern civil society in the GCF board. "We urge the GCF Board, which is now holding its 12th meeting in Songdo, Korea, not to approve their application for accreditation as financial intermediaries."

Today, on the eve of the GCF board meeting in Songdo, APMDD and other groups released a statement detailing the two banks’ well-documented involvement in recent money laundering and other scandals, their large exposure to coal and other polluting industries, and their anti-people and anti-environment policies.

The groups stated that HSBC and Crédit Agricole rank among the top 20 private sector banks financing coal. HSBC channeled almost €8 billion while Crédit Agricole gave around €7 billion to the coal sector between 2005 and April 2014, according to BankTrack data.

Both banks also financed non-fossil-fuel sectors with a large negative impact on climate, citing HSBC as a major financier of palm oil in Indonesia’s.

"HSBC is bankrolling dirty and harmful energy as a major financier of Indonesia’s palm oil sector. The logging and burning of rainforests and peatlands for palm oil has led to a lot of carbon emissions. It has also displaced entire communities and farmlands," said Jefri Saragih, executive director of Sawit [Palm Oil] Watch, an APMDD member organization based in Bogor, Indonesia.

The GCF was founded under the United Nations climate convention to redistribute money for climate adaptation and mitigation from developed to developing countries. Over $10 billion is currently pledged to the fund. If the GCF board approves the banks as their “accredited entities”, they will be able to receive and disburse funds to support adaptation and mitigation in developing countries.

The groups also noted in their statement that the vast majority of GCF resources are expected to flow through international and developed-country entities, even though the funds are supposed to prioritize national banks and other institutions, particularly those in developing countries.

"The Green Climate Fund Board must reject HSBC and Crédit Agricole. Creating new business for big banks with large fossil fuel portfolios and poor records on human rights and financial scandal would undermine the very purpose of the Fund,” said Karen Orenstein of Friends of the Earth U.S.

"To accredit HSBC and Crédit Agricole is to short-change the vulnerable communities and the countries that the Fund is meant to directly benefit. There is no profit to be made in building the resilience of those adversely impacted by climate change. Public funds must be used to support local communities in developing countries, not to subsidize big banks,” said Sam Ogallah of the Pan African Climate Justice Alliance.

“Accrediting HSBC and Crédit Agricole would be inconsistent with both the Paris Agreement, and with upholding high human rights standards. Any private sector partner of the GCF must have a credible strategy in place to make its entire portfolio and operations consistent with keeping global temperature rise to no more than 2 °C, let alone well below 1.5 °C,” said Annaka Peterson of Oxfam.

“The accreditation of these banking giants would jeopardize the reputation of the Green Climate Fund and expose it to unnecessarily high fiduciary risk. HSBC and Crédit Agricole provided US$7 billion and US$9.5 billion, respectively, to the coal industry between 2009 and 2014, and their coal financing does not show a clear downward trend. Moreover, HSBC is deeply embroiled in massive financial scandal,” said Yann Louvel of BankTrack.

A U.S. judge recently ordered the release of a report by an independent monitor overseeing the cleanup of HSBC’s massive money laundering -- the report is said to be so damning that it would provide a “road map” for criminals seeking to launder money and finance terrorism.  

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For interviews or more information please contact:

In Korea:

  • Lidy Nacpil, APMDD, +63 917 880 0410, This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Karen Orenstein, Friends of the Earth U.S., +1-202-640-8679, This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Sam Ogallah, Pan African Climate Justice Alliance, +254 712 612 662, This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Annaka Peterson, Oxfam, +1-202-412-7352, This email address is being protected from spambots. You need JavaScript enabled to view it.

On Crédit Agricole: Lucie Pinson, Les Amis de la Terre France, +33 (0)6 79 54 37 15, This email address is being protected from spambots. You need JavaScript enabled to view it.

On HSBC: Yann Louvel, BankTrack, +33 688 907 868,  This email address is being protected from spambots. You need JavaScript enabled to view it.

Could developing countries walk out of the Paris climate talks?

Could developing countries walk out of the Paris climate talks?

The Paris climate negotiations aren't looking good for climate justice. Could developing countries walk out of the talks? Lidy Nacpil from the Global Campaign to Demand Climate Justice gives a quick halftime summary from inside the summit.

Posted by New Internationalist Magazine on Saturday, December 5, 2015

Asian alliance co-publishes review of countries’ climate pledges (PR)

MANILA, 4 November 2015 – An alliance of people’s movements across Asia co-published today an independent civil society review of national climate pledges, ahead of the November 8-10 informal dialogue of climate negotiators in Paris.

The full review, entitled "Fair Shares: A CSO Equity Review of INDCs", was released online today. It compares the initial climate action pledges, called Intended Nationally Determined Contributions (INDCs), of countries to their actual fair share of climate action.

The review shows that the INDC commitments will likely lead the world to a devastating 3°C or more warming above pre-industrial levels. The current INDCs amount to barely half of the emissions cuts required by 2030.

Moreover, the INDCs submitted by all major developed countries such as the United States, European Union, Japan and Russia fall well short of their fair shares in terms of both emissions cuts and finance. 

On the other hand, the majority of developing countries’ mitigation pledges, including China and India, exceed or broadly meet their fair share. It also shows they still have mitigation potential beyond their fair share.

“The INDCs of developed countries are condemning us to even much greater devastation than what we are already experiencing now. On the other hand, the review results do not mean a free pass for developing countries. Developing country governments must deliver on their fair shares, and be firm on their demands for finance from developed countries so that they can undertake more mitigation actions to save our peoples and communities from climate catastrophe. All governments must ensure a just transition; workers and communities must not be displaced in the process,” said Lidy Nacpil, coordinator of the Asian Peoples’ Movement on Debt and Development, from Manila.

“It also comes at a poignant time for us Filipinos as we prepare to commemorate the second anniversary of Haiyan’s landfall on Sunday. The destruction the super typhoon wrought on our country is but one reminder that we cannot wait a decade or more for countries to improve on their climate pledges,” she added.

The equity review was initiated by a broad group of social movements, networks, and other civil society organizations in the international, regional, and national levels.

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NOTES TO EDITORS:

The Asian Peoples’ Movement on Debt and Development (formerly Jubilee South–Asia Pacific Movement on Debt and Development) is a regional alliance of peoples' movements and organizations, coalitions, and NGOs. APMDD co-initiated the Fair Shares equity review of INDCs.

For the full report and for more details on the Fair Shares review, go to www.civilsocietyreview.org.

CONTACT: Denise Fontanilla, This email address is being protected from spambots. You need JavaScript enabled to view it., +639178514890

Asian alliance calls on UN climate fund to shun HSBC, Crédit Agricole

PRESS RELEASE

Asian alliance calls on UN climate fund to shun HSBC, Crédit Agricole

Both banks fund dirty energy, say civil society groups

LIVINGSTONE, Zambia, 2 November 2015 – As the last Green Climate Fund board meeting before the Paris climate conference begins here today, an Asian alliance of social movements joined over a hundred civil society groups worldwide in calling for the main UN climate fund to reject the partnership bids of two European banking giants – the British HSBC and French Crédit Agricole.

“If the Green Climate Fund is serious about helping developing countries cope with climate change, it must not partner with these dirty energy financiers,” said Lidy Nacpil, coordinator of the Asian Peoples’ Movement on Debt and Development.

“It already tarnished its reputation by accrediting the World Bank and Deutsche Bank as its intermediaries in the July board meeting – that board must not let what remains of that reputation go up in smoke now, less than a month before Paris,” she added.

APMDD and other groups released a statement today which detailed the two banks’ well-documented involvement in recent money laundering and other scandals, their large exposure to coal and other polluting industries, and their anti-people and anti-environment policies.

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