Sectors & commodity chains
Sustainability themes

Projects

To illustrate our broad expertise, covering many different economic sectors, commodities, sustainability themes and countries, this page gives an overview of the different projects executed by Profundo over the years. In the menu, you can filter the projects by thematic area. Each project is described briefly and where available the project portfolio - such as reports, brochures or presentations - is provided. Attention is also given to the exposure generated by the project in the media, in politics and elsewhere.

We analyse the financial parameters of companies and assess how companies and their financiers could be affected in different scenarios by Environmental, Social and Governance (ESG) risks related to deforestation, climate change emissions, human rights abuses, resource depletion, health impacts and other sustainability issues.

We analyse the various human rights and other sustainability risks in international commodity supply chains and identify what different stakeholders can do to foster sustainable development of value chains in agriculture, forestry, livestock, energy, fisheries and mineral sectors.

We analyse how companies are financed by banks, shareholders and others financiers, to assess what financiers could do to foster sustainable corporate practices. Also, we dig into ownership structures and the schemes companies have set up to minimise tax payments.

We assess and benchmark responsible investment and credit policies of banks and investors and we advise on how policies can be improved and implemented through screening, voting, engagement and exclusion strategies.

November 2020

November 17, 2020

PBL Netherlands Environmental Assessment Agency

Monitoring the Sustainability Status of the Dutch Coffee Sector: Tracking Progress Beyond Certification

Commissioned by the Netherlands Environmental Assessment Agency (PBL), this research assesses options for a more comprehensive monitoring of the Dutch coffee sustainability status. The previous approach of measuring progress based on the market share of certified coffee is perceived as not adequately accounting for the increasingly diversified sustainability strategies chosen by sector actors. The report identifies options for and barriers to a broadened approach to monitoring progress and impacts.

downloads

Report: Monitoring the Sustainability Status of the Dutch Coffee Sector (pdf)

November 12, 2020

Friends of the Earth Netherlands (Milieudefensie) & Both Ends

A Just Energy Transition for Africa - Mapping the impacts of ECAs active in the energy sector in Ghana, Nigeria, Togo and Uganda

This report examines, from the perspective of communities in African countries affected by energy projects supported by export credit insurance, the best way to limit global warming to 1.5° Celsius on the one hand and to promote access to energy in these countries on the other. In addition, it analyses the question of what the role of public financial institutions such as export credit insurers could be in promoting a green energy future in countries in Africa.

downloads

Report: A Just Energy Transition for Africa - Mapping the impacts of ECAs active in the energy sector in Ghana, Nigeria, Togo and Uganda (pdf)

Publicity

Both Ends: Exportondersteuning voor vuile energie in Afrika

Milieudefensie: Omgekeerde wereld: wij verduurzamen, maar maken Afrika verslaafd aan olie en gas

November 5, 2020

Friends of the Earth Netherlands (Milieudefensie)

The dark side of Neste's biofuel production

This study, commissioned by Milieudefensie (Friends of the Earth Netherlands), investigates the unsustainable practices linked to Neste's palm oil supply chain. Neste is the world's largest producer biofuel biodiesel and jet biofuel, while stressing its commitment to sustainability. The study finds that companies in its supply chain can be connected to at least 10,000 ha of deforestation, an area the size of Paris, in the period from January 2019 to June 2020, and around 13,000 fire alerts in 2019.

downloads

Report: The dark side of Neste's biofuel production (pdf)

Publicity

Friends of the Earth Netherlands: Neste’s suppliers responsible for deforestation of at least 10,000 hectares over the past 18 months

Het Financieele Dagblad: Rotterdam in de race voor enorme raffinaderij van biodiesel

Milieudefensie: Leveranciers Neste verantwoordelijk voor kap 10.000 hectare regenwoud

November 12, 2020

Urgewald

2020 Global Coal Exit List

Profundo has provided data to Urgewald for the 2020 Global Coal Exit List.

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Website: Coal Exit List

Publicity

Banktrack: Banktrack: NGOs release the 2020 Global Coal Exit List

The Guardian: Almost half of thermal coal firms set to defy climate pledge – report

November 9, 2020

Counter Balance

The EIB’s Economic Resilience Initiative: A portfolio and thematic analysis

Profundo has been commissioned by Counter Balance to evaluate the Economic Resilience Initiative (ERI) of the European Investment Bank (EIB), a series of financing projects carried out since 2016 under the European Union’s External Lending Mandate (ELM) in the Southern Neighbourhood and Western Balkans regions, with the stated objective of supporting the economic resilience of refugees, migrants, host and transit communities and communities of origin as part of the EU’s strategic response to the migration crisis.

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Report: Can the EIB Become the "EU Development Bank"? A critical view on EIB operations outside Europe (pdf)

Publicity

Counter Balance: Is the EIB too faulty to become the 'EU Development Bank'?

November 2, 2020

Bündnis für ein Verbot von Kriegsgeschäften

Financing of Arms Companies – Policies and Practices of Swiss Banks

For the Swiss Bündnis für ein Verbot von Kriegsgeschäften, Profundo has carried out research into the financing of arms companies by three major Swiss banks: Credit Suisse, the Swiss National Bank, and UBS.

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Report: Financing of Arms Companies - Policies and Practices of Swiss Banks (pdf)

Publicity

Kriegsgeschäfte Initiative: Studie Zeigt Riesiges Ausmass der Schweizer Kriegsgeschäfte

La Liberté: Des milliards placés dans les armes

Tagesanzeiger: Banken vergeben Kredite an Produzenten von Atomwaffen

October 2020

October 28, 2020

portfolio.earth

Bankrolling Extinction: The Banking Sector's Role in the Global Biodiversity Crisis

This report is a first attempt to quantify the impact of 50 banks on sectors linked to biodiversity loss and naming the 10 banks providing the most finance. It finds that in 2019, the world’s largest banks invested more than USD 2.6 trillion (c. entire GDP of Canada) in sectors which governments and scientists agree are the primary drivers of biodiversity destruction. None of the banks assessed have chosen to put sufficient systems in place to monitor or measure the impact of their loans on biodiversity, nor do they have comprehensive policies to halt it.

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Report: Bankrolling Extinction: The Banking Sector's Role in the Global Biodiversity Crisis (pdf)

Publicity

Azonnali: Tavaly 2,6 Trillió Dollár Kölcsönt Folyósítottak a Bankok az Ökoszistéma és a Biodiverzitás Rombolására

Bisnis.com: Waduh! Kredit Bank Besar Global Senilai US$2,6 Triliun Ancam Keberagaman Hayati

Bloomberg: Banks Directed $2.6 Trillion to Biodiversity Loss

CommonDreams: 'Bankrolling Extinction': Report Shows Big Banks Lent Over $2.6 Trillion to Fund Global Biodiversity Destruction in 2019

Dagens PS: Tryck på storbanker att sluta utrota djur

EcoWatch: New Report Shows Banks Loaned $2.6 Trillion Linked to Biodiversity Loss in 2019

Edie: Banks and agribusiness linked to biodiversity loss

FR24 News: The world’s banks must start valuing nature and stop paying for its destruction

Reuters: Bank loans scrutinized for harm to wildlife as well as climate

The Guardian: Banks lent $2.6tn linked to ecosystem and wildlife destruction in 2019 – report

October 27, 2020

Amazon Watch

Complicity in Destruction III: How Global Corporations Enable Violations of Indigenous Peoples' Rights in The Brazilian Amazon

This new edition of Complicity in Destruction III, published by the Association of Brazil’s Indigenous Peoples (APIB) in partnership with Amazon Watch, reveals how a network of leading international financial institutions is linked to conflicts on Indigenous lands, illegal deforestation, land grabbing, the weakening of environmental protections, and the production and export of conflict commodities.

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Report: Complicity in Destruction III: How Global Corporations Enable Violations of Indigenous Peoples' Rights in The Brazilian Amazon (pdf)

Publicity

BankTrack: American financiers invested more than USD 18 billion in companies linked to Indigenous Rights violations in the Brazilian Amazon

CTV News: U.S. firms fund deforestation, abuses in Amazon: report

MercoPress: Major US funds involved in Amazon degradation and indigenous rights violations, claim environmental groups

October 23, 2020

ActionAid Netherlands

Women’s Rights Violations in Dutch Palm Oil Supply Chains: The Case Of Guatemala

This report was compiled by ActionAid Netherlands and ActionAid Guatemala. It presents documented human rights violations through palm oil production in Guatemala and the links that exist between these violations and the Netherlands through the palm oil value chain and the Port of Rotterdam.

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Report: Women’s Rights Violations in Dutch Palm Oil Supply Chains: The Case Of Guatemala

October 1, 2020

Deutsche Umwelthilfe

Brandbeschleuniger Soja: Handlungsoptionen gegen Entwaldung durch Futtermittelimporte nach Deutschland

For Environmental Action Germany (Deutsche Umwelthilfe), Profundo has investigated the German market for soy from South America. The research highlights the heavy dependence of German intensive animal husbandry on soy imports, and their connection to illegal deforestation of tropical rainforests. The import of soy is therefore a dangerous fire accelerant for the destruction of species-rich habitats and forests such as the Cerrado and the Amazon rainforest. The report provides a set of criteria for comprehensive supply chain due diligence, critically reviews the role of TSD chapters in trade agreements and summarizes key recommendations for effective legislation to achieve deforestation-free commodity supply chains.

downloads

Report: Brandbeschleuniger Soja: Handlungsoptionen gegen Entwaldung durch Futtermittelimporte nach Deutschland (pdf)

Publicity

Deutsche Umwelthilfe: Brandbeschleuniger Soja: Bericht der Deutschen Umwelthilfe zeigt Zusammenhänge von importiertem Soja in Futtermitteln auf

October 27, 2020

Friends of the Earth Netherlands (Milieudefensie), Oxfam Novib, Amnesty International Netherlands, PAX & World Animal Protection Netherlands

Fair Bank Guide Netherlands, 18th update

The Fair Bank Guide is a consumer's tool. More and more consumers consider it of great importance that their bank invests in a sustainable way. The Fair Bank Guide website (www.eerlijkebankwijzer.nl) tries to involve consumers in realising the Fair Bank Guide's goals.

Publicity

De Telegraaf: Bankbeleid: vrouwenrechten en aanpak taksontwijking kunnen beter

Duurzaam Beleggen: Bankbeleid duurzamer, vrouwenrechten en aanpak belastingontwijking blijven achter

Eerlijke Bankwijzer: Bankbeleid duurzamer, vrouwenrechten en aanpak belastingontwijking blijven achter

Nederlands Dagblad: De Eerlijke Geldwijzer helpt bij duurzaam beleggen. ‘Alleen praten is niet genoeg’

Nu.nl: Klimaatbeleid van banken steeds beter, onvoldoende voor vrouwenrechten

Reformatorisch Dagblad: Bankbeleid: vrouwenrechten en aanpak taksontwijking kunnen beter

October 25, 2020

Greenpeace Netherlands

Who is profiting from Brazilian soy? An analysis of the Dutch soy supply chain

This research analyses the role of Brazilian soy in the overall domestic soy use on the Dutch market, and aims to estimate the revenues and profit generated from it by a selection of key industry stakeholders at different levels of the supply chain – from import and crush to animal feed to livestock product processing and eventually retailing.

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Report: Who is profiting from Brazilian soy? An analysis of the Dutch soy supply chain

Publicity

AgriHolland: 'Nederlandse bedrijven verdienen miljoenen aan sojaimport uit Brazilië'

Boeddhistisch Dagblad: Onderzoek: Albert Heijn verdient circa 40 miljoen per jaar aan dubieuze soja uit Brazilië

FoodPro: 'Nederlandse bedrijven verdienen miljoenen aan sojaimport uit Brazilië'

Zembla: Dit verdienen Albert Heijn en FrieslandCampina aan Braziliaanse soja

October 15, 2020

Schweizer Radio und Fernsehen

Fossil Fuel Portfolio of Credit Suisse and UBS

Profundo has carried out financial research for the Schweizer Radio und Fernsehen (SRF) on the fossil fuel portfolios of Swiss banks Credit Suisse and UBS.

Publicity

Der Schweizer Finanzplatz und die Klimakrise

September 2020

September 15, 2020

Friends of the Earth United States

Doubling Down on Deforestation: How the Big Three Asset Managers Enable Consumer Goods Companies to Destroy the World’s Forests

This report reveals that the largest U.S. asset managers, BlackRock, State Street and Vanguard – known as the Big Three – have explicitly undermined efforts by consumer brands and agribusiness companies to halt deforestation. The Big Three collectively hold shares worth almost $700 billion in consumer brands with supply chain links to rainforest destruction, and tens of billions more in the agribusiness producers directly responsible for widespread deforestation. All three firms have voted against or abstained from voting on every single shareholder resolution requiring companies to act on deforestation since 2012, and lack clear policies to engage with companies on the issue, which is the second leading cause of climate change.

downloads

Report: Doubling Down on Deforestation: How the Big Three Asset Managers Enable Consumer Goods Companies to Destroy the World's Forests (pdf)

Publicity

BankTrack: Largest US Investors Undermine Efforts to Halt Rainforest Destruction, new report finds.

Blackrock's Big Problem: In surprise move, BlackRock Votes for Procter & Gamble to Disclose on Deforestation

Common Dreams: Largest U.S. Investors Undermine Efforts To Halt Rainforest Destruction, New Report Finds

Financial Times: Investor rebellion at Procter & Gamble over environmental concerns

Medium: Fighting for forests and standing up to money managers: Using our voices, our bodies and our poetry to call for defunding deforestation

Mongabay: BlackRock, other asset managers enabling deforestation, says Friends of the Earth

New York City Comptroller: Comptroller Stringer Calls on State Street to Take Action on Deforestation

September 8, 2020

Transport & Environment

ESG-Analysis Uber Technologies

Profundo has carried out an analysis for Transport & Environment about the ESG risks and opportunities of Uber Technologies’ Ridesharing business unit. The company is confronted with climate, environmental, congestion and labour legislation in the European Union and in other European countries, which could affect the value of investments of financers by a negative USD 31 billion (-44%). Through a shift to Ridesharing with electric vehicles, shareholders could benefit from USD 14 billion value creation (+20%), mainly due to a better reputation value in combination with increased attention from ESG fund managers for investing in Uber shares.

Publicity

Financial Times: Uber vows to make N America and Europe fleets fully electric by 2030

Transport & Environment: Uber to electrify half its rides in Europe after T&E public appeal

September 9, 2020

Fair Finance Asia

The Asian Web: Tracking Regional Financial Flows

This report identifies the financial flows towards four high risk sectors - agriculture, fossil fuels, infrastructure, and power generation - in the Fair Finance Asia countries (Cambodia, India, Japan, Philippines, Thailand, and Vietnam). The research shows that between 2014 and 2019, financial institutions from Asia, North America, and Europe provided approximately US$556 billion in loans and underwriting services to some of the largest companies active in these high risk sectors in FFA countries.

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Report: Summary: The Asian Web: Tracking Regional Financial Flows (pdf)

Report: The Asian Web: Tracking Regional Financial Flows (pdf)

Publicity

Eco-business: Financial flows study reveals how Asia's banks are funding social and environmental harm

Eco-Business: How can we mobilise finance to build back a resilient, sustainable post-Covid economy?

Fair Finance Asia: Ensuring Responsible Palm Oil Production in Indonesia by Focusing on Sustainable Finance

Money FM 89.3: Audio: Eco Money: Are banks funding environmental harm? (Audio)

Reuters Breakingviews: Japan’s financiers face a carbon cleanup

September 1, 2020

Amazon Watch, Transformasi untuk Keadilan Indonesia (TuK), Rainforest Action Network, BankTrack & Repórter Brasil

Forests & Finance

Forests and Finance is a website that reveals the role that finance plays in enabling tropical deforestation, which has been expanded to cover Brazil and Central & West Africa, as well as Southeast Asia. The website is a publicly searchable database, functioning as a transparency tool by providing CSOs and journalists a deep insight into financiers that are supporting forest-risk commodity companies. It is a joint initiative of the Forests & Finance Coalition, which includes Rainforest Action Network, Tuk Indonesia, Profundo, Amazon Watch, Repórter Brasil and BankTrack.

downloads

Website: Forests & Finance

Report: Forests & Finance: Is Your Money Destroying Rainforests or Violating Rights? (pdf)

Publicity

Ambiencia: Banco do Brasil é o maior credor de setores que desmatam no país, diz estudo

Askara: Perbankan Dunia dan Kesengajaan Pembakaran Hutan

Associated Press News: Palm oil labor abuses linked to world’s top brands, banks

Banktrack: Global climate groups issue guidance to finance giants on aligning with Paris Agreement goals

Banktrack: Global Witness, BankTrack and 19 other civil society organisations call on UK government not to leave finance out of a proposed new law on deforestation

Berita Sawit: Korporasi dan Bank Negara Dorong Karhutla di Indonesia

Bloomberg Quint: Banks Direct $154 Billion to Firms Responsible for Deforestation

ClimaInfo: Bancos injetaram mais de US$ 150 bilhões em empresas ligadas ao desmatamento desde o Acordo de Paris