📢 New report reveals French Insurance Giant AXA Rapidly Divests $20 Million from Israeli Banks in Response to Public Pressure! 💰 For Ekō , Profundo investigated the #investments of AXA in #bonds and #shares issued by five Israeli #banks: Bank Hapoalim, Bank Leumi, Israel Discount Bank, First International Bank of Israel and Mizrahi Tefahot Bank. ❗ The United Nations denounced all five #banks for their complicity in #warcrimes against Palestinians. 💸 This report shows that global #insurer AXA has fully divested from all five complicit Israeli banks as of 24 June 2024. “As Israel escalates violence against Palestinians in the occupied West Bank, continues to forcibly starve and bomb 2.3 million Palestinians trapped in the besieged Gaza Strip, and razes entire cities to the ground, it is impossible for any company to justify enabling Israeli war crimes. After AXA’s sell-off, others should think twice about investing in companies complicit in war crimes.” - Leili Kashani, campaigner with the corporate accountability group Ekō 📜 In addition, the report lists the top 50 #investors in the five selected Israeli banks. Researcher: Jeroen Walstra Read the full report: https://lnkd.in/eTFcNihF Read Ekō's press release: https://lnkd.in/ed5DV9wJ #insurance #axa #investing #divest #france #palestine #gaza #bank #banking #israel
Profundo
Onderzoek en wetenschap
Amsterdam, North Holland 4.109 volgers
Independent Sustainability Research & Advice
Over ons
With profound research and advice, Profundo aims to make a practical contribution to a sustainable world and social justice. Quality comes first, aiming at the needs of our clients: • NGOs • Trade unions • Governments • Research institutes Thematically we focus on: • Financial institutions: banks, pension funds a.o., researching investments in companies and sectors worldwide, evaluation of and advice on credit and SRI policies; • Commodity chains: researching trade, financing and investment patterns in global commodity chains in the agriculture, energy, fisheries, forestry, livestock and mining sectors worldwide; • Corporate Social Responsibility: research on corporate products and practices which have an impact on the environment, development and human rights; • Government policies: evaluation of policies on climate change, commodities, sustainability, financial sector regulation, tax, CSR, a.o.; • International trade and investment: global patterns in trade, FDI and ODI flows.
- Website
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http://www.profundo.nl
Externe link voor Profundo
- Branche
- Onderzoek en wetenschap
- Bedrijfsgrootte
- 11 - 50 medewerkers
- Hoofdkantoor
- Amsterdam, North Holland
- Type
- Particuliere onderneming
- Opgericht
- 2000
- Specialismen
- Commodity chains, CSR Issues, Financial institutions, International trade and investment, Policy, Fair finance, ESG Research en Market research
Locaties
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Primair
Radarweg 505
Amsterdam, North Holland 1043, NL
Medewerkers van Profundo
Updates
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❓ How does Dutch #climate #finance benefit #women and #marginalised groups? ⚖ Tweede Kamer Member Danielle Hirsch (GroenLinks-PvdA) recently posed several questions on this subject to the Minister for Foreign Trade and Development Cooperation. 🔎 This was because of an ActionAid Nederland report concerning the Dutch Fund for Climate and Development (#DFCD), for which Profundo conducted the desk research. ❗ The report revealed that overall #local #communities, #women and #marginalised groups are not sufficiently involved or equally benefiting from DFCD projects. Read all Member Hirsch's questions and the Minister's answers here: https://lnkd.in/gW9dr-h5 Read the full report here: https://lnkd.in/eTNqKf2V #tweedekamer #vraag #climatefinance #climatefund #nederland #climatecrisis
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📢 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
𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐡𝐨𝐥𝐝 $𝟒.𝟑 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝐛𝐨𝐧𝐝𝐬 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞𝐬 𝐨𝐟 𝐟𝐨𝐬𝐬𝐢𝐥 𝐟𝐮𝐞𝐥 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬. Money that needs to be shifted to supercharge the energy transition - and not fossil fuel expansion. We've looked at the fossil fuel holdings of over 7,500 institutional investors worldwide: pension funds, insurance companies, asset managers, hedge funds, sovereign wealth funds, endowment funds and asset management arms of commercial banks. 👉 We discovered that $4 trillion of the identified institutional investments are in 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐰𝐡𝐢𝐜𝐡 𝐚𝐫𝐞 𝐚𝐜𝐭𝐢𝐯𝐞𝐥𝐲 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐢𝐧𝐠 𝐧𝐞𝐰 𝐟𝐨𝐬𝐬𝐢𝐥 𝐟𝐮𝐞𝐥 𝐚𝐬𝐬𝐞𝐭𝐬. A speedy phase-out of fossil fuels is our only hope of avoiding tipping points that lead to an unmanageable climate breakdown. If institutional investors continue backing companies that are still expanding their coal, oil and gas operations, it will be impossible to phase out fossil fuels in time. 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐝𝐫𝐚𝐰 𝐚 𝐫𝐞𝐝 𝐥𝐢𝐧𝐞 𝐨𝐧 𝐟𝐨𝐬𝐬𝐢𝐥 𝐟𝐮𝐞𝐥 𝐞𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐭𝐡𝐞𝐲 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐝𝐨 𝐢𝐭 𝐧𝐨𝐰. 𝐓𝐡𝐞 𝐅𝐢𝐥𝐭𝐡𝐲 𝐅𝐨𝐮𝐫 👹 The world’s 4 biggest institutional investors in fossil fuels are all headquartered in the US: Vanguard, BlackRock, State Street, Capital Group. US institutional investors collectively hold $2.8 trillion in fossil fuel companies in 62 countries and account for 65% of total investments in fossil fuel companies. 𝐓𝐡𝐢𝐬 𝐦𝐢𝐫𝐫𝐨𝐫𝐬 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐥𝐚𝐜𝐤 𝐨𝐟 𝐚𝐜𝐭𝐢𝐨𝐧 𝐛𝐲 𝐔𝐒 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐬 𝐭𝐨 𝐞𝐟𝐟𝐞𝐜𝐭𝐢𝐯𝐞𝐥𝐲 𝐦𝐨𝐧𝐢𝐭𝐨𝐫 𝐚𝐧𝐝 𝐚𝐝𝐝𝐫𝐞𝐬𝐬 𝐭𝐡𝐞 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 𝐚𝐧𝐝 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐫𝐢𝐬𝐤𝐬 𝐨𝐟 𝐥𝐚𝐫𝐠𝐞 𝐢𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬. European institutional investors collectively hold $554 billion in stocks and bonds of fossil fuel companies and account for ~ 13% of total investments in fossil fuels. Europe’s largest fossil fuel investor is the Norwegian Government Pension Fund Global (Norges Bank Investment Management) with investments of over $70 billion in the largest fossil fuel expansionists like Shell, ExxonMobil, TotalEnergies. It is folllowed by UBS, Legal & General Investment Management (LGIM), Crédit Agricole Group and its asset manager Amundi, Deutsche Bank with its asset manager DWS Group and Allianz ($24 bn). 𝟐𝟎𝟐𝟒 𝐧𝐞𝐞𝐝𝐬 𝐭𝐨 𝐛𝐞𝐜𝐨𝐦𝐞 𝐭𝐡𝐞 𝐭𝐮𝐫𝐧𝐢𝐧𝐠 𝐩𝐨𝐢𝐧𝐭 Central banks and regulators need to finally act on Article 2.1(c) of the Paris Agreement and take measures to ensure that financial flows are in line with Paris instead of pitted against it. Details at https://lnkd.in/e7GQutvY Investing in Climate Chaos is co-published with Stand.earth, Greenpeace, Rainforest Action Network, Fair Finance International, FOSSIL FREE Berlin, Milieudefensie, ReCommon Stop the Money Pipeline, Framtiden i våre hender, Attac Österreich, and others.
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📢 "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
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📢 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
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📢 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
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⏰ 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
💻 Join us on the 27th of June for this webinar about the climate impact of Big Meat and Dairy financing, presented by BankTrack, Feedback , Friends of the Earth U.S., and Profundo! 💰 Bank #financing of industrial livestock production, which makes Big #Meat and #Dairy possible, is fueling the #climatecrisis and undermining #financial institution's commitments to reduce #greenhousegasemissions. 🔎 Join a team of experts, including Profundo senior financial researcher Ward Warmerdam, to learn how significant financial flows from #globalbanks into the largest #meat, #dairy, and #feed #corporations are driving startling #environmental ramifications. Sign up today: https://lnkd.in/egh4pkgN #ghg #methane #co2 #bank #banks #banking #industriallivestockproduction #industriallivestockfarming #biodiversity #climatechange #climateimpact
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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
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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
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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
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