Civil Society Statement: Climate Bonds Initiative must abandon its misguided attempt to greenwash hydropower
Civil Society Statement:
Climate Bonds Initiative must abandon its misguided attempt to greenwash hydropower
December 10, 2019
On behalf of 276 civil society organizations from around the world, we are calling upon the Climate Bonds Initiative (CBI) to abandon the certification of destructive hydropower projects as climate-friendly. The proposed hydropower criteria developed by CBI and its technical working group fall far short of acceptable standards and practice, and their adoption would pose a significant threat to rivers and the communities and freshwater species that depend on them.
If adopted, the CBI’s hydropower criteria would risk opening up a funding source that could prove profitable to dam operators and institutional investors with Paris-friendly branding, while making no meaningful contribution to stemming the climate crisis. Beyond permitting projects with dubious value to attract a new line of financing, the greatest risk of the proposed criteria is channeling scarce climate dollars toward projects that fail to help us confront the challenge of preventing a 2oC scenario and that exert increased pressure on freshwater biodiversity and the functioning of our water cycle.
In its eagerness to capitalize on the expanding market for climate-certified energy projects, the Climate Bonds Initiative has aligned itself with the International Hydropower Association (IHA), an industry body created to promote the interests of hydro companies and boost their image. In recent years, the IHA has rolled out a series of tools and guidance and advocated their use in lieu of established international standards and mechanisms for assessing the costs and benefits of hydropower.
The adverse environmental and social impacts of destructive hydroelectric dams are now well understood, ranging from displacing and impoverishing millions, particularly indigenous peoples, to driving the extinction of freshwater species and fragmenting rivers. Yet the CBI proposes to adopt the IHA’s own environmental, social and governance assessment tool as their principal source of assessment and verification. This would amount to little more than a box ticking exercise conducted by assessors accredited by the IHA itself – a glaring conflict of interest that lacks any meaningful oversight – making a mockery of international standards and conventions designed to protect rivers and the rights of communities. This would also be at odds with positive approaches adopted within the existing CBI standard for water infrastructure.
Besides profound damage to the hydrosphere – an important part of global climate system – hydropower reservoirs emit significant amounts of greenhouse gases, especially in the tropics. Dam reservoirs emit methane, a particularly potent greenhouse gas, and are a significant contributor to the climate crisis. Yet CBI’s proposed criteria set such a low bar that even high-emitting dams would qualify for CBI certification. This problem is compounded by CBI’s proposal to use the IHA’s own non-transparent emissions calculation tool, which systematically underestimates the greenhouse gas emissions from dams. Methane emissions from dams are highest in the first years of operation, thus incentivizing hydropower would contribute to a spike in emissions at the precise moment the world is trying to reduce GHG emissions to arrest the worst impacts of climate change.
Climate financing has the potential to play a critical role in ensuring positive outcomes for rivers. This could include: protecting threatened freshwater resources; restoring flows that facilitate reconnection of fragmented ecosystems; ensuring cultural and environmental flows determined in consultation with affected peoples; and promoting river restoration efforts such as the decommissioning of obsolete dams. This is of utmost importance because our freshwater resources are vital to sustain in an era of climate change. The CBI has already issued a separate standard for water infrastructure, which took an important step to help promote nature-based solutions to addressing climate change.
CBI’s hydropower criteria, on the other hand, would represent a step backward, sanctioning business-as-usual energy practices that further threaten our rivers. If approved, it would exacerbate global threats to freshwater biodiversity, undermine the cultural values and human rights of affected communities, and fail to make progress toward addressing the climate crisis. It would at the same time damage the reputation of the Climate Bonds Initiative and contribute to discrediting green bond finance mechanisms in general. Therefore, we call upon the CBI, its board and advisory bodies to abandon their pursuit of a hydropower standard that caters to the hydropower industry instead of providing meaningful solutions to address the climate crisis.
- Civil Society Statement (English) (Spanish) (Portuguese) (Russian) (Vietnamese)
List of endorsing organizations:
Abibiman Foundation, Ghana
Action for Improvement of Food Child and Mother (AFICM), DRC
Actions pour les Droits, l'Environnement et la Vie (ADEV), DRC
Alliance for Conflict Transformation (ACT), Cambodia
Alternatives Durables pour le Développement, Cameroon
Älvräddarnas Samorganisation, Sweden
Amazon Watch, United States
Amigos de la Tierra España (FoE Spain)
Amigos del Viento Meteorología Ambiente Desarrollo, Uruguay
Amis de l'Afrique Francophone (AMAF)-Benin
Apt Succor Organization, South Sudan
Armenian Women for Health and Healthy Environment, Armenia
Arnika, Czech Republic
Asamblea por la Defensa del Río Tajo de Aranjuez, Spain
Asociacion Ambiente y Sociedad, Colombia
Association "Baikal Trail-Buryatia", Russia
Association des Jeunes pour le Développement, Mauritania
Association for Promotion Sustainable Development, India
Association of patriotic upbringing "Master of His Land", Russia
Associazione Salvaguardia Val Mastallone, Italy
ATTAC, France
Balkani Wildlife Society, Bulgaria
Balkanka Association, Bulgaria
Bangladesh Poribesh Andolon (BAPA)
Bank Information Center, United States
Bank Information Center Europe, The Netherlands
Barwaaqo Voluntary Organisations, Somaliland
Biodiversity Conservation Center, Russia
Biofuelwatch, UK
Bird Protection and Study Society of Serbia
Black Sea Women's Club, Ukraine
Both ENDS, The Netherlands
Bretton Woods Project, UK
Brot Für Die Welt, Germany
Buliisa Initiative for Rural Development Organisation (BIRUDO), Uganda
Buryat Regional Union for Baikal (BRUB), Russia
Cambodian Volunteers for Society (CVS), Cambodia
Carbon Market Watch, Belgium
Centar za životnu sredinu/ Friends of the Earth Bosnia and Herzegovina
Center for Participatory Research and Development (CPRD), Bangladesh
Center for Protection and Research of Birds, Montenegro
Center for Water Resources Conservation and Development (WARECOD), Vietnam
Centre de Formation et d'Action pour le Développement (CFAD), DRC
Centre for Environment, Bosnia & Herzegovina
Centre for Financial Accountability, India
Centre for Initiative Against Human Trafficking (CIAHT-Ghana)
Centre for Research and Advocacy, Manipur, India
Centro de Documentación en Derechos Humanos "Segundo Montes Mozo S.J.", Ecuador
Centro ibérico de restauración fluvial CIREF, Spain
CESTA Amigos de la Tierra, El Salvador
China-Latin America Sustainable Investments Initiative
Christian International Eswatini
Circolo Legambiente Val Trebbia, Italy
CIRF - Italian Centre for River Restoration
Citizens' Committee of Tonegawa Basin, Japan
Clean Water Center, Russia
Climate Watch Thailand
Coalition for Rivers, Czech Republic
Coalition for Sustainable Development (KOR), Montenegro
Colonia Z-16 De Pescadores, Brazil
Comitato Difesa Torrente Pesarina, Italy
Comitato No Tube Piacenza, Italy
Comitato per la Salvaguardia e Tutela di Cortlys, Italy
Comitato Peraltrestrade Dolomiti, Italy
Committee for Water in Tokyo, Japan
Commons and Safeguards, Philippines
Commons BC, Canada
Community and Family Aid Foundation-Ghana
Community Empowerment and Social Justice (CEMSOJ) Network, Nepal
Community Resource Centre Foundation (CRC), Thailand
Conseil Regional des Organisations Non Gouvernementales de Développement, DRC
Conservación Humana AC, Mexico
Conservation Strategy Fund (CSF-Brazil)
Coordinadora Ciudadana No Alto Maipo, Chile
Coordinamento Nazionale Tutela Fiumi-Free Rivers Italia
Crimean Republican Association Ekologiya i Mir, Russia
Culture and Environment Preservation Association, Cambodia
DOPPS-BirdLife Slovenia
Društvo narava Pohorja, Slovenia
Društvo za raziskovanje, ohranjnje in trajnostni razvoj Dinaridov Dinaricum, Slovenia
Druzhina okhrany prirody Dzerzhinska, Russia
Earth Rights International, Thailand
EcoAlbania
Ecological Association ''Rzav-God Save Rzav'', Serbia
Ecological Center DRONT, Russia
Ecological Society of Sokobanja, Serbia
Ecosistemas, Chile
Eko "Bistro", Bosnia & Herzegovina
Eko Element, Bosnia & Herzegovina
Ekologistak Martxan, Basque Country
EMACE Foundation of Sri Lanka
Environmental Center for Development Education and Networking (EDEN Center), Albania
Environnement Sans Frontière (ESF), DRC
EPN Consultants Limited, Jamaica
Estrategia - Center of Investigation and Action for Urban Development, Peru
EuroNatur Foundation, Germany
European Water Movement
Eyge Environmentai Education Center, Russia
FightC, Canada
Fisheries Action Coalition Team, Cambodia
Fobomade, Bolivia
Forum for Policy Dialogue on Water Conflicts in India
Fórum Mato-grossense de Meio Ambiente e Desenvolvimento (Formad), Brazil
Fórum Mudanças Climáticas e Justiça Socioambiental (FMCJS), Brazil
Fórum Nacional da Sociedade Civil nos Comitês de Bacias Hidrográficas (FONASCCBH), Brazil
Forum nazionale Salviamo il Paesaggio, Italy
Freedom from Debt Coalition, Philippines
Friends of Lake Turkana, Kenya
Friends of the Earth U.S.
Friends with Environment in Development, Uganda
Fundación Ambiente y Recursos Naturales (FARN), Argentina
Fundacion Cauce: Cultura Ambiental, Causa Ecologista, Argentina
Fundacion Chile Sustentable, Chile
Fundación Global Nature, Spain
Fundación La Hendija, Unidad de Vinculación Ecologista, Argentina
Fundación Montecito, Colombia
GAIA Kosovo
Gautam Buddha Jagriti Society, India
GEADIRR, Cameroon
GegenStroemung - CounterCurrent, Germany
Global and Community Action Team at Kamloops United Church, Canada
Global Forest Coalition
Global Non-State Actors Disaster Risk Reduction Network, Kenya
Global Rights, Nigeria
Good Choice Nepal
Grand Riverkeeper Labrador, inc, Canada
Green Advocates International, Liberia
Green Alternative, Georgia
Green Innovation and Development Centre, Vietnam
Grow with the Flow, The Netherlands
Guild of Environmental Journalist of the St.Petersburg and Leningradskaya Province, Russia
Heinrich Böll Stiftung Washington, DC, United States
Holarctic Bridges, Canada
HOPE Worldwide-Pakistan, New Zealand
HRM "Bir Duino Kyrgyzstan"
ibdnext technoprise, Bangladesh
Inclusive Development International, United States
Initiative for the Development of Africa (IDA-Ghana)
Initiative to Keep Hasankeyf Alive, North (Turkish) Kurdistan
Institute for Environmental Policy, Albania
Instituto Caracol, Brazil
Instituto Madeira Vivo (IMV), Brazil
Interamerican Association for Environmental Defense (AIDA)
International Accountability Project (IAP)
International Rivers
Interregional NGO "Center for Public Health", Russia
JAGO NARI (Fighting For Women Empowerment), Bangladesh
Jamaa Resource Initiatives, Kenya
Japan River Keeper Alliance
Jeunes Volontaires pour l'Environnement, Togo
Jhanjira Samaj Kallyan Sangstha (JSKS), Bangladesh
KAIROS BC-Yukon, Canada
Keepers of the Athabasca, Canada
Kostroma Public Movement "For the sake of life", Russia
Koubaru Project, Japan
Krisoker Sor (Farmers' Voice), Bangladesh
KRuHA, Indonesia
Legambiente Piacenza Circolo Emilio Politi, Italy
LIR Evolution, Bosnia & Herzegovina
Local Initiatives Development Agency, Kenya
LUTRA, Institute for Conservation of Natural Heritage, Slovenia
Manadisaster Organization, Rwanda
Manushya Foundation, Thailand / Laos
Mediterranean Institute for Nature and Anthropos (MedINA), Greece
Mekong Watch, Japan
Mesopotamia Ecology Movement, North (Turkish) Kurdistan
Milwaukee Riverkeeper, United States
MISEREOR - Catholic Bishop's Organisation for Development Cooperation, Germany
Mom Loves Taiwan Association, Taiwan
Movimento Tutela Arzino, Italy
Multi-stakeholders Initiative for Humanitarian Action against Disasters (MIHANDS), Philippines
Museu Goeldi, Brazil
Nak Akphivath Sahakum (NAS), Cambodia
NGO BROC, Vladivostok, Russia
NGO Forum on ADB
NGO Forum on Cambodia
NGO Green Home, Montenegro
NGO Leeway Collective as Balkan River Defence, Slovenia
North American Megadams Resistance Alliance
North Caucasus Environmental Watch, Russia
Olympic 2002 - Plovdiv, Bulgaria
OMEP (World Organisation for Early Childhood Education) Cameroon
ONG ANAD, Mauritania
ONG Mer Bleue, Mauritania
ONG PADJENA, Benin
Onggi River Movement, Mongolia
Operação Amazônia Nativa (OPAN), Brazil
Oyu Tolgoi Watch, Mongolia
Pakistan Fisherfolk Forum
Pambansang Kliusan ng mga Samahang Magsasaka (PAKISAMA), Philippines
Pashan Baner Tekdi Bachao Kruti Samiti, India
Peace Bridges Organization, Cambodia
Peace Valley Environment Association, Canada
Peace Valley Landowner Association, Canada
Peachland Watershed Protection Alliance, Canada
People and Nature Reconciliation, Vietnam
PIAD, DRC
Pindos Perivallontiki, Greece
Planète Amazone, France
Plataforma contra la especulación urbanística y ambiental de Candeleda, Spain
Plataforma Contra las Interconexiones Eléctricas RECAEL, Spain
Plataforma de Toledo en Defensa del Tajo, Spain
Plataforma por el Hospital Comercial en el Valle del Tiétar, Spain
Plotina.Net, Russia
Poets for the Peace, Canada
Pravo na vodu / Right To Water, Serbia
PREPARED, Pakistan
Projeto Saude e Alegria, Brazil
Pune SPNF, India
PVLA, Canada
Radanar Ayar Association, Myanmar
Ramsar Network Japan
RAVEN (Respecting Aboriginal Values and Environmental Needs), Canada
Red por los Ríos Libres, Chile
Red Uruguaya de ONGs Ambientalistas, Uruguay
Rede Pantanal e a Ecoa, Brazil
Respiro Verde Legalberi, Italy
River Intellectuals, The Netherlands
Rivers without Boundaries International Coalition
Rivers without Boundaries-Mongolia
Riverwatch, Austria
Russian Socio-Ecological Union (RSEU)
Sakhalin Environment Watch, Russia
Salviamo il Paesaggio Valdossola, Italy
Salviamola Fuina, Italy
SAVE Rivers, Malaysia
Save The Tigris Campaign, Iraq
Say "No" to Site C Dam, Canada
Scientists4Mekong, Australia
Secure Future Africa, Zimbabwe
SFBSP-Burundi
Slovene Dragonfly Society (Slovensko odonatološko društvo), Slovenia
Slovenian Native Fish Society (Društvo za preučevanje rib Slovenije)
Snowfinch, L’Aquila, Italy
Society for Cave Biology, Slovenia
Socio-Ecological Union International
South Asia Network on Dams, Rivers & People (SANDRP), India
Stop Site C, Canada
Sukaar Welfare Organization, Pakistan
Sustainable Eel Group, UK
T.e.r.r.a srl, Italy
Taiga Research and Protection Agency, Russia
Tajik Social and Ecological Union, Tajikistan
Tatarstan Socio-ecological Union, Russia
Terre des Jeunes (TDJ), Burundi
The Corner House, UK
The Jordanian Society of Friends of Heritage, Jordan
The Slovenian Association for Bat Research and Conservation, Slovenia
Tinada Youth Organization (TIYO), Kenya
TOKA Albania
Tonle Sap Lake Waterkeeper, Cambodia
Toxic Action Network Central Asia, Kyrgyzstan
TRADENER, Basque Country
Tri-People's Organization against Disasters (TRIPOD), Philippines
Udruženje "Temska", Serbia
Udruženje za zaštitu velike droplje, Serbia
Ukana West 2 Community Based Health Initiative (CBHI), Nigeria
urgewald, Germany
Vasundhara Swachhata Abhiyan, India
Vietnam River Network
VRAT, India
Water Justice and Gender, Peru
Watershed Watch Salmon Society, Canada
Wetland Conservation Centre (Centrum Ochrony Mokradeł), Poland
Witnessradio.org, Uganda
World Heritage Watch, Germany
World Vision Lanka, Sri Lanka
World Wetland Network, Australia
WWT, UK
Yamba Dam Project, Japan
Yamuna Jiye Abhiyaan, India
Youth For Environment Education And Development Foundation (YFEED Foundation), Nepal
Youth Resource Development Program (YRDP), Cambodia
Zoldo c’è e difende i suoi torrenti, Italy
#SomosMaipo, Chile
4x4x4 Balkan Bridges, North Macedonia