Connect with us

NGO WORK

New billion-dollar loans to fossil fuel companies from SEB, Nordea and Danske Bank.

Published

on

After thousands of protests, Swedbank has stopped lending to oil companies, as Handelsbanken has done before. But SEB, Danske Bank and Nordea continue to pump billions into the fossil fuel industry, despite the banks’ climate promises. This is shown by our and the Swedish Society for Nature’s New Review.

– The banks must stop financing the hunt for more fossil fuels, it completely undermines the climate transition. I don’t think Swedish bank customers appreciate their money were used in this way, says Jakob König, who heads the Fair Finance Guide.

60 new billions to fossil fuel companies

The New Report Banking on Thin Ice 3 shows that SEB, Nordea and Danske Bank, despite promises of climate responsibility, have given over SEK 60 billion in new loans to fossil fuel companies in the last two years. This is almost four times the Swedish government’s total climate and environmental budget for 2025. Almost SEK 22 billion has gone to companies drilling for new oil and gas discoveries. Expanding the extraction of fossil energy is contrary to the climate goals of the Paris Agreement.

“The banks have long responded to criticism by saying that they are helping the oil companies to adjust. But the companies are in the completely wrong direction by increasing their extraction instead of phasing it out. Now the banks must stop the loans just as Handelsbanken and Swedbank have done, says Karin Lexén, Secretary of the Swedish Society for Nature Conservation.

Funding oil exploration in the Arctic and Africa

The Swedish-financed oil hunt is ongoing in several parts of the world. Eight billion SEK has gone to companies looking for more oil discoveries in the Norwegian Arctic, where nature is particularly sensitive and species such as seals, dolphins and whales are threatened by extraction. Last year, Norway quadrupled the number of extraction licenses sold in the Arctic compared to the year before. A of majority the licensees were by purchased Norway’s Aker BP, which is also the oil company that has been the largest loan from Swedish banks, a total of seven billion SEK from SEB and Nordea.

The banks have also lent SEK 5.7 billion to companies drilling for oil in African countries. Extraction there is becoming all risky as companies seek ever greater depths to find new deposits. In Namibia, oil drilling at depths of up to 3,000 meters. Other countries where the Swedish-financed companies are active are Congo, Ghana, Nigeria and Aquatorial Guinea.

Swedbank stops oil loans

The report, however, shows that Swedbank has stopped lending to oil companies, just as Handelsbanken did two years ago. This is likely a result of the thousands of customer protests that our previous reviews have given rise to, as well as the motions that have been put forward at the banks’ general meetings. Swedbank and Handelsbanken are now among a small group of banks in the world that have stopped lending to oil companies.

– It is gratifying that another major Swedish bank has become an international role model when it comes to sustainable financing. Now more must follow suit and take responsibility, because there are still large fossil fuel companies that receive loans to continue operations that exacerbate the climate crisis, says Karin Lexén.

Original: fairfinanceguide-se

Continue Reading

NGO WORK

The Great “Green” Heist: When Artificial Intelligence and Arms Dealers Seize the Minerals of the South

Published

on

By Franck Zongwe Lukama, Congolese journalist and researcher, leads the independent media KilaloPress in DRC.

We were sold a simple equation: to save the planet, we must dig. Dig faster, deeper, extracting from the earth the cobalt, lithium, or copper needed for solar panels and electric vehicles. Yet, this climate rescue rhetoric conceals a staggering statistical deception. Today, 70% of global demand for critical minerals does absolutely nothing to support the energy transition. These resources end up in aerospace, communication technologies, and, above all, weaponry. Sectors that, ironically, exacerbate the global ecological crisis. The green revolution has become the perfect smokescreen, the moral veneer for a very different kind of war.

Far from the promises of sustainable development touted by the World Bank, the current scramble is driven by a strict logic of geopolitical power. A damning report from the California-based Oakland Institute exposes this global scheme. The report reveals an unprecedented and formidable convergence of interests between the American military-industrial complex and the giants of Silicon Valley. With the Pentagon openly pivoting toward a combat strategy focused on artificial intelligence (AI), securing supply chains is no longer a matter of ecology, but a question of survival in the face of Chinese influence. The United States is not seeking to reduce carbon emissions; it is seeking to guarantee its technological and military supremacy.

Image
Artisanal Coltan - manganese - cobalt mining in Mudere mine under control of Nyatura militia, town of Rubaya, North Kivu region (Democratic Republic of Congo, Africa). Photo: Erberto Zani.

The real winners of this frantic race wear suits far removed from environmental activism. Trillions of dollars are flowing into new alliances that intertwine AI-driven mining companies, like KoBold Metals—backed by billionaires such as Bill Gates—and companies specializing in cutting-edge defense technologies, like Palantir and Anduril, not to mention the networks of influence close to the Trump family. For these players, the discourse of climate emergency acts as a powerful public relations tool. It justifies massive and accelerated extraction that would otherwise provoke international outrage.

Local communities and Indigenous populations find themselves on the frontlines, forced to resist an extraction machine that has the audacity to justify their suffering by claiming it is necessary to save the world.

And the price of this hypocrisy is being paid in full throughout the Global South. In the Rubaya hills, in the Kolwezi copper belt, as in the Indigenous territories of Latin America and Asia, the promise of “prosperity” translates into a terrifyingly familiar tragedy. Land grabbing, forced displacement, devastating groundwater pollution: the plundering of ecosystems and human lives is accelerating. Local communities and Indigenous populations find themselves on the frontlines, forced to resist an extraction machine that has the audacity to justify their suffering by claiming it is necessary to save the world. Today, opposing the destruction of one’s village by a multinational mining company risks being accused of hindering the fight against climate change. The rhetorical trap is devastatingly effective.

Image
Artisanal Coltan - manganese - cobalt mining in Mudere mine under control of Nyatura militia, town of Rubaya, North Kivu region (Democratic Republic of Congo, Africa). Photo: Erberto Zani.

The long-term consequences of this diversion are alarming. The exponential surge in demand generated by future AI data centers, mass surveillance, and global rearmament will mathematically deplete available reserves. Every ton of copper, nickel, or cobalt consumed by combat drones or algorithmic data processing servers is a ton diverted from the production of renewable energy infrastructure. We are not equipping the energy transition; we are cannibalizing it to militarize our future.

We are not equipping the energy transition; we are cannibalizing it to militarize our future.

If no strict regulations are put in place to curb this rampant mining frenzy, hundreds of new mines will spring up in the coming years, causing irreversible damage on an unprecedented scale. The question facing citizens today, from Kinshasa to Washington, is no longer whether we will have enough minerals to save our atmosphere. It is why we are willing to sacrifice millions of lives and destroy our lands to fuel next-generation algorithms and weapons. In ten years, when the Global South is nothing more than a vast crater serving a militarized hyper-technology, it will be too late to realize that the planet was never the priority.

Photos: Artisanal Coltan – manganese – cobalt mining in Mudere mine under control of Nyatura militia, town of Rubaya, North Kivu region (Democratic Republic of Congo, Africa). Erberto Zani – stock.adobe.com

Source: oaklandinstitute.org/

Continue Reading

NGO WORK

EU: IPI welcomes action against 14 states over Anti-SLAPP Directive delays

Published

on

EU states must introduce robust measures to protect journalists and media from vexatious litigation

The International Press Institute (IPI) today welcomes the infringement proceedings initiated by the European Commission against 14 EU Member States over their inaction or delays in transposing the Anti-SLAPP Directive.

The countries included are Austria, Bulgaria, Czech Republic, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Romania, Slovakia and Spain.

The EU infringement proceedings were initiated on 15 July, with letters of formal notice sent to these Member States for failing to notify about progress made in implementing the Directive. States now have two months to respond and update about measures taken or could eventually face legal action at the European Court of Justice.

The Anti-SLAPP Directive introduced EU-wide rules which protect journalists and civil society actors from manifestly unfounded or abusive civil proceedings with cross-border implications, including early dismissal tools and remedies for targets of SLAPPs. It was adopted in April 2024 and the transposition deadline was 7 May 2026.

Monitoring by IPI shows that while in some of the countries identified, such as Greece and Spain, steps have been taken to prepare for the transposition and bills are actively in development and reportedly close to being presented to or adopted by parliament.

In others such as Bulgaria and Portugal, initial work done to develop legislation has been delayed by institutional changes, changes in governments or political instability, though transposition work remains ongoing.

In other states, such as Italy and Hungary, little to no measurable progress has yet been made on transposition. However, with the new Tisza government in Hungary driving forward media freedom reforms, there is hope the new administration will introduce initial anti-SLAPP measures in the next legislative package identified for the autumn.

While Ireland has been actively working to tackle SLAPPs through legal reforms, and passed the Defamation Bill in 2024, further legislation is required to fully transpose the Anti-SLAPP Directive during its Presidency of the Council of the EU.

Although these 14 countries have been identified in the EU action, monitoring and analyses show that the overall picture for implementation of the Directive across the EU remains fragmented and uneven.

According to the European Anti-SLAPP Monitor, almost all EU Member States missed the May 2026 transposition deadline, with only a handful fully implementing on time.

IPI notes that even in those Member States where the Directive was implemented, such as Malta, these reforms only included minimum standards protecting against cross-border cases, and failed to include measures to safeguard against domestic SLAPPs.

In the wake of the EU’s opening of initial infringement action, IPI renews our call – made previously with Media Freedom Rapid Response (MFRR) partners – for Member States to demonstrate their commitment to media freedom by accelerating their legislative processes in protecting against SLAPPs. This includes the 14 countries identified by the EU Commission and those in which reforms have been presented but not yet adopted.

Crucially, legislative reforms should both fully reflect both the letter and the spirit of the Anti-SLAPP Directive and introduce the substantive and procedural safeguards set out in the EU and Council of Europe Recommendation on SLAPPs.

A model here should be Poland, where last month the President approved a law which covers both domestic and cross-border SLAPPs, ensuring implementation of both EU Directive and Council of Europe Recommendation.

Member States which continue to delay or fail to transpose the directive should face legal action from the Commission, which must use all tools at its disposal to help safeguard media freedom across the bloc.

IPI, which has advocated at the EU and national level for measures to protect journalists and media from SLAPPs, will continue to monitor implementation in collaboration with European partners, including through MFRR media freedom missions.

Source: ipi.media/

Continue Reading

NGO WORK

No Heritage Without its People: Why Ngorongoro Cannot be a World Heritage Site and an Eviction Zone

Published

on

The Tanzanian government, under the guise of “conservation,” restricts Maasai livelihoods and denies access to essential services forcing Indigenous residents away from their ancestral lands and turning their heritage into a playground for safari tourists.

As the 48th Session of the World Heritage Committee begins July 19, UNESCO continues to legitimize the continued forced displacement of the Maasai from Ngorongoro. If UNESCO cannot ensure that the World Heritage designation protects the rights of its Indigenous custodians, then the Committee must remove the Ngorongoro Conservation Area from the World Heritage List.

Increased international pressure is imperative to hold UNESCO accountable and protect the lives and rights of the Maasai!

Read our Open Letter to the World Heritage Committee.

Source: oaklandinstitute.org

Continue Reading

Resource Center

Legal Framework

READ BY CATEGORY

Facebook

Newsletter

Subscribe to Witness Radio's news and report updates



Trending

Subscribe to Witness Radio's news and report updates