Profundo

📢 The 2024 update of the Investing In Climate Chaos #website is now live! 🌎 Gigantic floods, catastrophic hurricanes, devastating fires, and horrific heatwaves are happening all around the world. 💰 At the same time, investors make gigantic #profits from investing in #fossilfuel #companies which are causing exactly this #climatecrisis. 🤝 At #COP28 in Dubai, the international community agreed to “transition away” from fossil fuels. ❗ In May 2024, however, over 7,500 institutional #investors still held #bonds and #shares in #coal, #oil, and #gas companies to the tune of $4.3 trillion. 💻 The Investing In Climate Chaos website, for which Profundo conducted the financial research, is a tool for citizens’ #movements, #customers and #regulators to hold #pensionfunds, #insurers, and #asset managers accountable. Contributing researchers: Andrea Fernández Tinoco, mara werkman and Ward Warmerdam Explore the data here: https://lnkd.in/e7GQutvY #climate #biodiversity #climatechange #climatecrisis #energytransition #transition #fossilfuels #climatechaos #humanrights #peoplebeforeprofit #planetbeforeprofit

📢 "Big Banks Break Their Climate Promises by Propping Up Big Meat" 🔎 Profundo senior financial researcher, Ward Warmerdam, has co-authored together with Monique Mikhail an article published by WIKI Observatory about Big Banks financing Big Meat. The article provides information on: 🐮 The #climateimpact of industrial #agriculture 💰 How #bank financing drives industrial #livestock #emissions 🔥 The “Big Three” #banks financing eco-disaster 🏭 The worst #companies involved in industrial livestock #production 🔢 Understanding unreliable #emissions numbers ⁉ And finally, considering all this, what should #banks do? Read the full article here: https://lnkd.in/eqT-ZE6R Read the report "Bull in the Climate Shop" to understand how much damage U.S. banks do to the #climate, the #environment, and #society by investing in meat, dairy, and feed corporations: https://lnkd.in/ek22gP5M #bigmeat #bigdairy #climatecrisis #environment #industriallivestock #meat #dairy #feed #banking #finance #ghg #methane #deforestation #humanrights #landgrabbing #biodiversity #pollution #labourrights

📢 New Expert View out now! 🌏 Sustainable #finance #taxonomies are rapidly emerging in many countries and jurisdictions. 📝 Existing #frameworks are regularly updated in terms of their #scope and the robustness of their requirements. 🐌 However, taxonomies are lagging behind on one key aspect – their implementation. While other voluntary and semi-voluntary #sustainability standards have seen varying phasing-in rates, taxonomies seem to demonstrate a disappointingly slow uptake. ❗ The EU should take the lead, make alignment mandatory and persuade its partners to follow suit. Author: Pavel Boev #taxonomy #eu #sustainabletaxonomy

📢 Over 100 organisations and academics, including Profundo, have called on the UN Food and Agricultural Organisaton (FAO) to retract a key #report. ❗ This is due to serious methodological errors downplaying the #emissions reduction potential of a shift to lower-meat and dairy #diets. 🔎 The FAO’s claims were mainly based on two papers. Scientists who co-authored these papers recently accused the FAO of distorting their work and called for the report to be retracted. 🤐 Last year, the FAO faced allegations from former staff that it had ostracised them and censored their work for highlighting the #climate emissions impact of #livestock and potential benefits of dietary change to reduce #meat and #dairy consumption. Read the letter here: https://lnkd.in/eeipJSyY Read the call for retraction signed by scientists Paul Behrens and Matthew Hayek: https://lnkd.in/eDyBnV2H Read the press release from Feedback here: https://lnkd.in/e8abvcmj #meat #dairy #meatanddairy #climateimpact #climatecrisis #environment #un #unfao #FAO #climatescience #diet

⏰ It's not too late to sign up for our upcoming webinar about the #climate #impact of Big Meat and Dairy financing on the 27th of June! Register here: https://lnkd.in/egh4pkgN #meat #dairy #finance

A new report published by a group of 19 civil society organizations and trade unions exposes the largest European #financialinstitutions investing in international arms producers that sell #weapons to #Israel. In total, these financial institutions have provided 36.1 billion EUR in loans and underwritings, and hold 26 billion EUR in shares and bonds in these companies. By selling weapons to Israel, arms producers run a high risk of facilitating ongoing severe violations of international humanitarian law, crimes against humanity and, plausibly, genocide in #Gaza. The banks, pension funds and other asset owners providing finance to these companies should take urgent action and divest from companies that do not immediately stop selling arms to Israel. Profundo provided the financial data for this study. https://lnkd.in/dSx-Q8ib

On behalf of the Eerlijke Geldwijzer, Groen Pensioen and Fossielvrij NL, we investigated the impact of their #divestment campaigns on the investments of seven large Dutch #pensionfunds in fossil energy producers. Since 2017, the value of their #fossilinvestments has dropped from 15.5 billion euros to just 5 billion euros in 2023. This is a decrease of 67% and a significant step towards more sustainable pension funds! https://lnkd.in/dbGHsviG

For Greenpeace USA we developed an innovative approach for estimating the energy consumption and #carbonemissions from 20 listed #Bitcoin mining companies, using electricity grid emissions data and analytical support from nonprofit WattTime.org. We found that, in 2022, the 20 companies emitted as much carbon to the atmosphere as two coal power plants in a year, over 7.8 million metric tons CO2. Further, we calculated the financed and facilitated carbon emissions attributed to lending, shareholding, bondholding, and underwriting for Bitcoin miners from financial services companies. We identified American investors Trinity Capital, Stone Ridge Holdings, BlackRock, Vanguard, and MassMutual as the top five financiers, accounting for over 1.7 million metric tons CO2 in 2022—equal to the emissions from over 335,000 American homes using electricity for a year. Find the full report here: https://lnkd.in/eaD7J6TQ

Together with WWF, we just published a study on Assessing Financial Flows within the South West Indian Ocean Blue Economy. This study first analyses the financial flows in the South West Indian Ocean #blueeconomy. Investments and loans to the SWIO region are primarily of foreign origin and directed towards unsustainable commercial activities such as energy and mineral resource extraction. The study then examines the effectiveness of voluntary policies and government regulations in place to mitigate the environmental, social and governance risks inherent in financing ocean-based commercial ventures. Most financiers do not have sufficiently comprehensive #ESG policies in place to manage their exposure to ocean-related risks, and that there is currently little regulation to ensure that financial flows into the region are directed towards activities that are sustainable and inclusive. Find the full study here: https://lnkd.in/dDseREHh

New report ‘’Human rights by Dutch banks: efficient tool or black box?’’ out now! For the Eerlijke Geldwijzer, financial research by Profundo reveals that four Dutch #banks (ABN AMRO Bank N.V., ING, Rabobank and Van Lanschot Kempen) gave credits to, and made investments in, controversial extractive companies with a total value of USD 15 billion over the past six years. These oil & gas and mining companies, including Shell, Rio Tinto, Trafigura and Glencore, are notorious for the human rights abuses related to their operations. We researched how the Dutch banks responded to these #humanrights risks:  ➡ While all banks embrace international human rights standards in their policies, they fail to demonstrate their implementation in practice ➡ None of the banks formulate specific and timebound goals for engagement  ➡ Systematic inclusion of civil society and impacted-rights holders’ representatives is missing ➡ Banks fail to demonstrate how they use their leverage to provide access to remedy More than a decade after the UN Guiding Principles on Business and Human Rights (#UNGPs) were adopted, all Dutch banks have formulated human rights policies. Yet, the findings of this report illustrate a discrepancy between the policies of the banks and their practices on human rights. This means: ➡ Banks need to enhance accountability and transparency on the implementation of stewardship and engagement policies ➡ The Dutch government needs to ensure that the transposition of the EU #CSDDD will cover the banking sector as well. Researched and written by Juliette Laplane and Debbie Schepers. With contributions from Jim Sanchez. For more details, read the full report here:  https://lnkd.in/eU2VVf2v