Resource information
This report investigates how Dutch public money is being used to support oil production in developing countries through Multilateral Development Banks (MDBs) such as the World Bank and European Bank for Reconstruction and Development (EBRD), and other International Financial Institutions (IFIs). It notes that the Dutch government contributes to MDBs in two ways: through financial contributions using public money and by voting on the boards of the banks.Three case studies demonstrate that recent oil projects financed by the Dutch government and MDBs are failing the poor. They are: the Chad- Cameroon Pipeline in West Africa; the Baku-T’bilisi-Ceyhan pipeline system in the South Caucasus and the Sakhalin-II Oil and Gas Project in far eastern Russia.. The report argues that if the Dutch government is to achieve its goals on development cooperation and on addressing climate change it must cease supporting oil projects in developing countries and support renewable and sustainable energy projects.The report covers the following areas:the development goals of International Financial Institutions and the west’s dependency on oilthe local, regional and global impacts of oil developmentcase studiesenergy securityopportunities for change It concludes:internal divisons within the Dutch government with regard to extractive industry policies need to be addressedthe Dutch Government needs a clear policy on support for oil development, and on how this relates to climate change mitigationthe urgent problem of climate change and for a long-term national energy policy that encompasses the impact of oil dependence on developing countries and the global imperative for a clear strategy for moving towards alternatives to oilThe report recommends that:the Dutch Government should phase out over a limited timeframe, all public funding for the oil industryDutch participation in MDBs should be in
accordance with the Dutch government’s commitments to the MDGs and its commitments to addressing climate changethere should be rigorous transparent and democratic oversight on the use of Dutch public funds channelled into MDBsthe Dutch government should implement an energy portfolio shift away from oil and gas to sustainable, renewable energy sources across all aspects of government policy
