Swedish banks continue to threaten the Amazon
New report FORESTS ON FIRE shows the seven largest banks in Sweden still invest in and finance 27 of 61 high-risk companies that produce, use or sell meat and soy, the main sectors driving deforestation in the Amazon and the Cerrado. None of the banks have engaged sufficiently with the companies involved.
New climate steer for Norwegian Oil Fund
Hot on the heels of the recent alarming IPCC report, a Norwegian government-commissioned expert group have published significant recommendations for handling climate risk in the Norwegian Oil Fund (GFPG), one of the world’s largest investment funds, recommending that the Oil Fund should base its mandate on contributing to achieving the goals of the Paris Agreement.
European financing is fueling the climate crisis
Fair Finance International research data shows that billions in investments flowed from European financial institutions to companies directly contributing to the destruction of the Amazon, a climate-critical environment.
Major insurers doing little on human rights violations
Papilou Roland's village is surrounded by deadly pools of oil leaked from Shell pipelines, which spread a pungent oil smoke and make the water undrinkable. Major insurers continue to invest billions in multinationals like Shell which commit human rights violations, yet do next to nothing to enforce changes.
Financial institutions support violations of Indigenous rights
Agribusiness, mining and infrastructure pose significant threats to Indigenous rights and lands in Brazil, backed by financial institutions' investments. Threats to Indigenous peoples go hand in hand with threats to biodiversity, the Amazon and our climate.
SHIFTING FINANCIAL SYSTEMS AWAY FROM HARMFUL PRACTICES TO THOSE THAT RESPECT AND PROTECT HUMAN RIGHTS AND THE PLANET.
Trillions in investments used responsibly and sustainably have the power to address the most important challenges we face today. Where finance goes today, the world goes tomorrow.
Our network of over 100 CSOs works to strengthen the commitment of all financial institutions to act on and adhere to Social, Environmental, and Human Rights standards. Read their opinions here.
FINANCING DRIVING THE CLIMATE CRISIS
The “Dia do Fogo” or ‘Day of Fires’ in August 2019 put the Brazilian Amazon in the headlines around the world and caused international alarm. The fires that raged contributed to the deforestation of up to 1.2 million hectares in 2019 alone - more than 60% of that being in the Amazon. Since that day, deforestation alerts in the Amazon have grown 34.5%, pushing this eco-system to a climate-critical tipping point.
The Fair Finance International (FFI) network carried out three large studies analyzing how much money is really being invested in companies with a high risk of involvement in deforestation in the Brazilian Amazon and Cerrado.
By bringing together data from financial institutions active in Germany, Norway and the Netherlands, FFI revealed billions in investments in these companies. Read more
FAIR FINANCE GUIDES
The Fair Finance Guides provide consumers with information on the policies and practices of their financial institutions, both at home and abroad.
The Belgian Fair Finance Guide is an initiative of FairFin, 11.11.11., CNCD, and Vrede
Guia dos Bancos Responsáveis is led by the Idec and supported by Instituto Sou da Paz, Conectas, and World Animal Protection Brazil
Fair Finance Guide Germany is led by Facing Finance and supported by Verbraucherzentrale Bremen, and Südwind.
Fair Finance Guide Japan members are: JACSES APLA, JATAN) and PARC
The Dutch Fair Finance Guide coalition includes Oxfam Novib, Amnesty International Netherlands, and Friends of the Earth Netherlands, World Animal Protection and PAX .
The Norwegian Fair Finance Guide is a partnership of the Norwegian Consumer Council and Future in our hands/Framtiden i våre hender.
Fair Finance Vietnam members include: Oxfam, CEPEW,Warecod, MEC.
A regional network of civil society organizations
Fair Finance International collaborates and partners with Fair Finance Asia, a regional network of over 70 Asian civil society organizations committed to ensuring that financial institutions’ funding decisions in the region respect the social and environmental well-being of local communities.
Through our cross-collaboration we support sustainable financing initiatives and knowledge sharing, and strengthen the evidence base in cases of harmful investments to better hold financial institutions to account. By connecting these diverse national, regional and global perspectives the Fair Finance network as a whole can advise on and advocate for meaningful changes to financing systems, with positive results for citizens and communities.