Protection des Écoregions de Miombo au Congo
Audrey Gaughran, Executive Director, SOMO
From ‘growth’ to balance
The challenges we face – from the intrusive power of Big Tech to the existential threats of climate change and biodiversity loss, and from the disenfranchisement of small-scale farmers to spiralling wealth inequality – are all fuelled by a political-economy idea of growth. This misguided notion that “big is better” is destroying everything we value, from our privacy to our planet.
“Growth at all costs” is a central tenet of capitalism. And capitalism is always about taking out more than you give back. This mindset, deeply entrenched in the logic of GDP growth and the attraction of foreign investment, has perpetuated profound economic divisions worldwide and insidiously prolonged the legacy of colonialism through unjust economic structures. This resolute belief in the necessity of growth has led governments to continue subsidising fossil fuel companies in 2023 despite catastrophic climate change. It is also the reason why countries struggle to fund essential services like healthcare and education, while the wealthiest 1% of the global population has amassed nearly two-thirds of all new wealth created since 2020.
Many people believe that without growth, we face stagnation, job losses, recession, and hardship. This is not true – or rather, it is not inevitable. An increasing number of economists are demonstrating that capitalist-style growth is not the only way forward. What we need is balance.
The real issue lies in our inability to imagine alternative possibilities. We tolerate the system despite the evidence of the harm it does. “Growth” has simply become accepted as the way the world works. Yet the world does not work for many of the people living in it, and unless we halt climate change, it will not work at all.
In 2023, SOMO maintained its commitment to challenging the “growth at all costs” paradigm, debunking false narratives, and collaborating with others to propose viable alternatives. Nowhere was this more evident than in our programs on climate justice and Big Tech.
Climate justice and corporate power
The climate crisis is near the top of the global political agenda, yet the actions taken to keep a worldwide temperature rise this century to below 2°C, let alone 1.5°C, are woefully inadequate. As the devastating consequences of climate change continue to mount, core capitalist logic is steadfastly impeding the full potential of renewable energy while preserving the fossil fuel industry and other greenhouse gas-intensive sectors.
In 2023, the problem was clearly exposed. Against the backdrop of a 10% surge in BP’s share value following the company’s announcement of a rollback in its climate ambitions, Shell brazenly declared that oil and gas are simply better investments for their shareholders. For the oil giants, the issue is not that renewables are not profitable; it is that they are not profitable enough.
To maintain their business-as-usual approach, oil and energy-intensive multinationals have staunchly defended and promoted carbon offsetting, an industry whose sole purpose is to allow the ongoing extraction and use of fossil carbon. Offsetting is an increasingly discredited industry, and one that is enabling serious human rights abuses, as research by SOMO and others revealed in 2023.
The challenge posed by the “growth at all costs” and shareholder value mentality is not just an obstacle to reducing greenhouse gas emissions quickly enough to avert further disasters; it is also the most formidable barrier to any hope of a just energy transition. Our work in 2023 exposed how the business model underpinning the renewable energy sector is replicating the same patterns of exploitation and inequality that characterised the fossil fuel sector. The model hinges on wealthy countries backing their companies to venture out and extract the critical minerals needed to power electric vehicles, solar panels, and wind turbines to produce clean energy for the Global North.
Activists worldwide, including SOMO, are sounding the alarm on the problems arising from the scramble for critical minerals. Indigenous Peoples and marginalised communities are, once again, being forcibly removed from their land. Pollution of the air, water, and land is, once more, the order of the day.
In 2023, we collaborated with others to vigorously challenge the EU’s colonial mindset, as it imposes trade and investment agendas on low-income countries that possess the lithium, graphite, and cobalt that EU car manufacturers need and are voraciously consuming to manufacture and sell ever more private vehicles. We joined the drive away from consumption, using powerful data visualisation work to show just how unequal and unnecessary Europe’s electric vehicle dream is. We are starting to witness a growing recognition that a radical reduction in consumption is imperative.
Controlling Big Tech’s excessive market power
The monopoly power, or excessive market power, of the world’s largest corporations, has expanded at an alarming rate over the past few decades, with a staggering increase in both revenue and market capitalisation. This trend is most starkly evident in the tech sector. In 2023, SOMO’s work on Big Tech brought to light how Amazon’s dominance enables the company to engage in extractive and exploitative practices towards sellers on its platform, with little fear of repercussions.
We also collaborated with allies across Europe to advocate for more robust action by regulators. On 6 July 2023, the European Commission’s competition department announced an in-depth investigation into Amazon’s proposed acquisition of home robotics company iRobot. The Commission’s decision echoed SOMO’s concerns that the deal would further entrench Amazon’s market dominance at the expense of people’s privacy and livelihoods. The push for far more stringent regulatory action against Tech giants is beginning to yield results in the US and EU, and while there is still a long way to go, the urgent need to curb the unconscionable market power of these companies is now firmly on the agenda.
SOMO turns 50: celebrating with the launch of our new global help desk on corporate power
2023 was the year we turned 50! We were delighted to celebrate this milestone with many of our partners and friends. SOMO seized the opportunity to reaffirm our commitment to our mission of challenging unjustified corporate power and serving as a vital resource for civil society actors who confront the might of multinationals. In keeping with this spirit, we launched The Counter, a global help desk dedicated to supporting civil society organisations working on corporate power and accountability. The launch of The Counter was a defining moment of our year, as described in greater detail later in this report.
In solidarity with Gaza
2023 was indelibly marked and marred by the horrific war on Gaza. SOMO joined tens of millions of voices in unequivocally condemning the collective punishment, indiscriminate attacks, and other grave breaches of international humanitarian and human rights law that we witnessed being inflicted daily upon the civilian population of Gaza. We condemned the indefensible targeting of Israeli civilians by Hamas and deplored the use of this action to justify the collective punishment of Palestinians.
The grave abuses unfolding before our eyes did not begin after 7 October. For decades, the Palestinian people have been subjected to systemic abuse, apartheid, and war crimes, all under the cover of a blanket of impunity granted by Israel’s allies.
Our world privileges those with powerful political and economic influence. We will continue to add our voice, however small, to the tens of millions calling for a ceasefire, humanitarian aid, and justice for the people of Palestine. We will persist in our efforts to support our partner organisations and their families living through this horror.
Realising radical change
Throughout our work in 2023 – from challenging the monopoly power of Big Tech to exposing how workers in garment and electronics supply chains are being abandoned as brands change their sourcing policies – we consistently challenged the “growth” narrative. We continued to support and advance a balanced economy framework, one in which historical inequality is repaired, rampant consumerism comes to an end, and the economy serves as a tool to support a healthy and vibrant planet rather than an altar on which these things are sacrificed.
There is a growing body of civic activists, NGOs, and academics working tirelessly to bring about radical change to the economy and the role of multinational companies. SOMO’s work in 2023, as described in this report, is a small but, we hope, significant contribution to this movement.
There is a growing body of civic activists, NGOs, and academics working for radical change to the economy and the role of MNCs. SOMO is among them.
Our work
Our strategy in a nutshell
Deep and sustained collaborations for change
SOMO never works alone. Partnerships and alliance-building are in our DNA. The multinational corporate problem cannot, by definition, be solved by any single organisation in a particular country. It demands cross-jurisdictional cooperation. With our allies, we will continue to advance norms and standards and support those seeking remedy and accountability.
International networks and alliances not only confront corporate-driven injustices but also have the power to imagine and build an alternative future, one where the economy serves people and not the other way around. If we continue to join forces and build our collective strength, we can reach a tipping point and reset the global economy together. This hope and belief animates SOMO’s work and underpins our 2021-2025 strategy.
The Counter: empowering civil society to confront corporate power
The launch of The Counter in September 2023 marked a significant milestone for SOMO. The global help desk serves as an essential resource for civil society actors who are challenging the powerful corporations that have caused or contributed to environmental disasters, social injustices, human rights abuses, and the most urgent issue of our time: the climate crisis. By providing bespoke corporate research, The Counter helps ensure that human rights and environmental defenders are better equipped with data, evidence, and analyses for their advocacy, legal action, or media work. The Counter plays a vital role in levelling the playing field between communities and big business.
In its first four months of operation, The Counter responded to 74 requests from civil society groups, lawyers, communities, and journalists in more than 40 countries. The requests covered a wide range of issues related to corporate impacts, from supply chains, energy, and climate to labour and human rights, agriculture, minerals, and mining. The Counter is thriving thanks to the generous support of the Dutch Postcode Lottery and True Costs Initiative.
Climate justice: the case of the Niger Delta
The Niger Delta, perhaps more than any other region in the world, illustrates the potential for grave climate injustice. Shell began its oil operations there under British colonial rule in the 1930s and has remained a dominant actor ever since. The company has reaped billions in profits from extracting Nigeria’s oil, while the Niger Delta has been transformed into one of the most oil-polluted regions globally, with devastating long-term impacts on both nature and human health. As Shell now prepares to exit its onshore oil fields, the hundreds of oil-impacted communities are demanding that the decades of pollution be cleaned up.
In 2023, SOMO and its partners in the Niger Delta, including the Stakeholder Democracy Network and the Centre for Environment, Human Rights and Development, worked to expose and halt Shell’s grossly irresponsible exit strategy, which involves selling the oil fields as going concerns, with no cessation of oil extraction. We supported an oil industry expert in examining the risks, such as the failure to properly fund the decommissioning of oil infrastructure. CSOs used this data as a basis to establish the ‘National Principles for Responsible Petroleum Industry Divestment’. These principles call for robust action by the government to prevent international oil companies from leaving behind substantial social, economic, and environmental costs. They were launched in Port Harcourt on 6 December 2023 and have become a rallying tool for CSOs to demand that the government stop Shell’s exit until pollution is cleaned up, people are compensated, and there is clarity on funding for decommissioning Nigeria’s vast oil infrastructure.
The Nigerian principles have also helped advance the issue of responsible fossil fuel industry divestment on an international scale. SOMO has become a leading player in defining responsible divestment. Together with others, we seek to ensure that the fossil fuel industry divests swiftly and responsibly. We are working to connect communities and CSOs facing similar challenges in different countries and to elevate the issue of responsible divestment on the global political agenda. Without action to stop irresponsible divestment, the injustices of fossil fuel extraction will be compounded and prolonged for many communities and countries.
Demanding an end to fossil fuel subsidies
The question of who pays for climate change mitigation and adaptation was once again one of the most hotly debated topics at the 28th UN Climate Conference (COP28). The Global North has thus far failed miserably to deliver on even modest commitments to finance the transition in the Global South and compensate for climate-related loss and damage in low-income countries that have contributed little to climate change.
Meanwhile, wealthy countries like the Netherlands provide fossil fuel subsidies that make the production and use of oil, gas, and coal cheaper. In collaboration with Milieudefensie and Oil Change International, we calculated that between 2020 and 2022, Dutch fossil fuel subsidies amounted to between €39.7 and €46.4 billion per year, despite long-standing promises to end this support. This accounts for more than 4% of the Netherlands’ Gross Domestic Product (GDP). We identified 31 schemes through which the Dutch government provides benefits to fossil fuel companies. Never before has there been such a detailed, peer-reviewed mapping of fossil fuel subsidies in the Netherlands.
The study catalysed a wave of protests by climate groups against the subsidies. The significant media attention and pressure generated by the protests resulted in the adoption of a motion in the Dutch parliament, asking the government to explore ways to eliminate fossil fuel subsidies. This also led the Dutch Minister of Climate Affairs, Rob Jetten, to form a group at COP28 to phase out fossil fuel subsidies globally.
Phasing out fossil fuel subsidies serves two purposes at once: the CO2 emissions reductions achieved by ending the subsidies would help the Netherlands get back on track to meet its 2030 climate goals; and removing fossil fuel subsidies will also raise additional revenues that can be invested in renewable energy, energy efficiency, social protection measures, and increased international climate finance for developing countries that are hit hardest by the climate crisis.
Challenging false climate solutions: the carbon offsets industry
2023 was the warmest year on record, yet at COP28, relatively little attention was paid to the imperative of reducing actual emissions. Instead, significant attention (and corporate lobbying resources) was devoted to carbon offsets and how they might be used under Article 6 of the Paris Agreement.
Carbon offsetting enables companies and major economies to justify business as usual while simultaneously claiming to transition towards “net zero” practices. The concept is simple: forests, peatlands, and other ecosystems can be commodified into carbon credits and used to greenwash the climate sins of big polluters. This has created an industry that claims to “offset” the carbon emissions of companies such as Shell, TotalEnergies, and KLM. And it is an immensely lucrative business: carbon offsetting is now a $2 billion industry expected to grow significantly in the coming years.
Carbon offsets are increasingly discredited as a means to address climate change. The past few years have seen a wave of criticism of the industry, ranging from bogus carbon credits and false carbon claims to land grabbing and serious human rights issues, primarily in the Global South. SOMO joined the many voices exposing the carbon offsets industry for what it is: a distraction from real climate action and a threat to climate justice.
In November 2023, together with the Kenya Human Rights Commission, we published a major investigation exposing systemic sexual abuse and harassment at one of the most celebrated carbon offsetting projects: the Kasigau Corridor REDD+ project, run by the US-based company Wildlife Works. As a result, Wildlife Works fired an individual for “gross misconduct” and terminated its Human Resources Manager who “created a culture of fear and intimidation”. Verra, a major standard-setting organisation and credit issuer in carbon offset initiatives, temporarily suspended the Kasigau project from issuing credits.
Our work has helped unmask the carbon offsets business, and as evidence of the damaging human rights and environmental effects of offsetting piles up, the way forward is clear: abolish the carbon offset industry and support forest-based communities with just climate solutions.
Working for a just transition: restraining consumption of critical minerals
Demand for critical minerals has reached an all-time high, with Europe at the forefront of the geopolitical race to secure the world’s crucial resources for its energy transition. These minerals are essential in shifting from fossil fuels to renewable energy. However, Europe’s proposed energy transition is ignoring the elephant in the room: unsustainable energy consumption in the Global North.
The business model underpinning the renewable energy sector is replicating the same patterns of exploitation and inequality that characterised the fossil fuel sector. Europe, along with the United States and China, is voraciously consuming the world’s new energy resources, particularly minerals, in a manner reminiscent of the way we have historically exploited oil, gas, and coal to satisfy our insatiable energy demands.
This neo-colonial ideology was at the core of the European Commission’s proposal for a Critical Raw Material Act (CRMA), containing an EU strategy to secure access to strategic minerals.
We raised our concerns about this proposal through hard-hitting advocacy. Together with the EU Raw Materials Coalition, we highlighted the risks the CRMA poses for resource-rich countries in the Global South. Our consistent campaigning resulted in policymakers endorsing our advocacy recommendations during CRMA trialogue negotiations, including mandates for moderating the increase in demand for critical raw materials and enhancing protection for Indigenous Peoples’ rights. These issues were incorporated into the final text agreed upon in December.
Our efforts on the CRMA built on our work on Europe’s growing demand for batteries for electric vehicles. In February, SOMO published the ‘Big Battery Boom’ investigation, using powerful data visualisations to reveal the expansion of so-called battery “gigafactories” and their soaring demand for raw materials. Production of EVs accounts for 50% to 60% of projected mineral demand. Our research and advocacy efforts had an impact on the EU Batteries Regulation. We secured increased due diligence obligations across the entire battery supply chain, including the critical mineral extraction stage. Our work going forward will continue to emphasise significant demand reduction in Europe, particularly for personal electric vehicles.
From Big Tech to Tech for All
Big Tech has become omnipresent in our daily lives and the global economy, controlling entire markets and dictating the rules for individuals, businesses, and even public services. These companies have expanded by cultivating monopoly power, prioritising growth and scale at any cost, and embracing a “winner takes all” mentality. Yet, discussions about the power of Big Tech often remain too abstract. In 2023, SOMO’s work bridged this gap by exposing the concrete effects of Big Tech’s monopoly power and achieving unexpected victories.
Stopping Big Tech from using mergers and acquisitions to solidify monopoly power
Mergers and acquisitions have been crucial for Big Tech companies to maintain market domination. This shopping spree has enabled Big Tech to take over emerging competitors, acquire innovative technologies and know-how, and expand into a wide range of business sectors – from health to education to food distribution.
In February, we took a stand against Amazon’s planned takeover of Roomba-maker iRobot. The deal was set to increase Amazon’s already sprawling home data collection devices, threatening to allow the giant to monitor our homes and entrench its power. Our concerns were well-received by the European Commission, which, months later, launched an investigation into the deal. Facing a potential veto, Amazon withdrew its intention to buy iRobot. This was a success for civil society organisations and a clear illustration of the need to widen and democratise merger review processes. Read more about this in the section on Digital Mergers Watch.
Digital Merger Watch
Digital Merger Watch (DMW) is a new global initiative hosted and developed by SOMO. This project aims to prevent harmful mergers and acquisitions (M&A) activity in the digital era.
Companies in digital markets, especially Big Tech companies, have entrenched their power into every aspect of our daily lives. M&A is a key part of their monopolisation strategy.
Traditional approaches to merger reviews, one of the strongest anti-monopoly tools available to regulators, have proven insufficient in dealing with network effects, the role of data, and extreme economies of scale and scope, leading to a failure to adequately consider the role of digital ecosystems. Moreover, ignoring the non-economic dimensions of Big Tech’s power puts our democracy and fundamental rights at risk.
Although a change in the narrative is emerging, Big Tech firms are pushing back and finding new ways to avoid scrutiny. Participation of civil society in merger processes is needed now more than ever. In response, we initiated the DMW as a civil society network aimed at blocking further monopolisation and entrenchment of power in digital markets.
To achieve this, the project builds on three pillars:
(i) monitoring digital M&A activity,
(ii) supporting the network, and
(iii) coordinating rapid responses against harmful mergers.
Pharma’s pandemic profits
The pharmaceutical industry is among the most profitable globally, setting drug prices through patent monopolies. As a result, governments and societies are often at the mercy of a few powerful corporations. During the Covid-19 crisis, Big Pharma became increasingly influential, presenting itself as selflessly supporting the global health crisis response. In reality, its relationship with governments and the public is self-serving and exploitative. Our investigation, published in February, revealed that Pfizer, BioNTech, Moderna, and Sinovac made a staggering $90 billion in profits from their Covid-19 vaccines and medicines in just two years.
Pharmaceutical companies benefited from billions in publicly funded research for decades and tens of billions in opaque Advanced Purchase Agreements with governments. These agreements failed to prioritise vaccine equity or ensure that high profits flowed back to the public, nor did they guarantee low vaccine prices. Together with our allies, we advocated for clear conditions for public funding of research and development to ensure affordable and accessible medicines for all. SOMO’s work on pandemic profits made global headlines and was discussed in national and European parliaments. Our research fed ongoing negotiations for the Pandemic Accord, a new international instrument that recognises the need to attach conditions to public funding of medical research and development.
These perverse gains expose the deep flaws of a capitalist system in which shareholder value and the “growth at all costs” ideology prevail over public health. The lack of regulation meant that Big Pharma could maximise its profits from the pandemic at the expense of equitable access to life-saving vaccines and medicines.
A momentous year for laws and standards on corporate accountability
2023 represented a momentous year for SOMO’s work on corporate accountability laws and standards. In June 2023, the OECD Guidelines for Multinational Enterprises were updated. OECD Watch, a global network hosted by SOMO with members from all regions of the world, helped ensure that perspectives from the Global South were represented in this Global North-centric rulemaking process. SOMO and OECD Watch succeeded in significantly strengthening the OECD Guidelines in areas such as climate justice, Indigenous Peoples’ rights, biodiversity, animal welfare, gender, and technology. This provides civil society with considerably more grounds to demand corporate accountability.
The highlight of SOMO’s corporate accountability work in 2023 was undoubtedly when we and our allies in the European Coalition for Corporate Justice took a step toward turning voluntary standards into binding obligations by persuading political leaders in the European Parliament to reach an agreement on the Corporate Sustainability Due Diligence Directive in December 2023. SOMO’s work with our partners in the MVO Platform – another network SOMO hosts – was crucial in ensuring that the Dutch government pushed an ambitious position. The success of our work was clear: the proposed directive was largely in line with our positions, including a robust duty of care, coverage of climate change, liability for harm, and administrative supervision. In early 2024, business lobbying succeeded in watering down the law, but its existence remains an important milestone in the battle for corporate accountability.
Celebrating 50 years of challenging corporate power
On 5th October, we celebrated our 50th anniversary with our community of activists, partner organisations, and supporters. The event revolved around the question that keeps us up at night: what does a future after capitalism look like? Speeches were interspersed with deeply moving performances by musicians and other artivists, who inspired us to not only contemplate but also emotionally connect with the idea that a different way of living together is within our reach. Or, as the title of the best-selling book by our keynote speaker, Mikaela Loach, says: It’s not that radical!
The celebration drew a crowd of partners and former colleagues, all united in their desire to commemorate SOMO’s half-century of impact. SOMO’s first employee recounted the early days of investigating companies without the aid of the internet, a stark contrast to our current focus on tackling the immense power of Big Tech. Despite the many changes over the years, the driving force behind SOMO’s team remains the same: dismantling the systems of corporate power! For SOMO’s employees, the event served as a powerful reminder of the deep connections we share with our network and the unwavering importance of our mission.
We marked our anniversary with multiple events, including a joint meeting with the Transnational Institute in October, where we reflected on Salvador Allende’s speech at the UN General Assembly on 4 December 1972 – a speech that, tragically, remains as relevant today as it was then. We also organised a screening of the powerful documentary ‘Esther and the Law’ at the beginning of the year, which tells the story of Esther Kiobel’s courageous legal fight against Shell in the Netherlands, almost 25 years after the execution of her husband Barinem, who was linked to protests against Shell’s environmental destruction in Nigeria. After the screening, Esther’s attorney, Channa Samkalden, shared her motivation for taking on the daunting task of challenging the powerful multinational Shell.
Our online outreach
In 2023, we undertook the task of renewing our visual identity and website. This resulted in a powerful design and a dynamic digital platform to effectively communicate our mission and showcase our work to a wider audience. The new visual identity, characterised by bold colours, striking imagery, and a clean, modern aesthetic, serves as a representation of our organisation and the impact we strive to make in the world.
Our revamped website, with improved user experience at its core, offers an engaging platform for visitors to explore our initiatives, research, and achievements. The shift in our visual identity and our new website have yielded impressive results, with a significant increase in new visitors, social media engagement, and newsletter subscribers. These positive outcomes underscore the importance of compelling visuals and a website that prioritises storytelling in amplifying our work.
Publications
Long reads
Partners
Alliances and partnerships are critical to advance an agenda for fundamental change. Playing our role within an international ecosystem of like-minded actors is central to SOMO’s theory of change and our core values.
Much of our work is done as part of long-term partnerships, through joint research projects or with research by SOMO that supports activism and campaigns of partner civil society organisations (CSOs). We play an active role in numerous networks and host several international networks. We are committed to sharing knowledge, learning from others, and contributing to a transformative and justice-focused agenda. In 2022 we worked with partners from Europe, Asia, Africa, Latin America, and the MENA region. Many of these partnerships are long-standing, reflecting shared goals and joint work over several years.
Protection des Écoregions de Miombo au Congo
Action Labor Rights
ARISA
MACUA/WAMUA
Alternative Information and Development Centre (AIDC)
Action Against Impunity for Human Rights
InKrispena
Südwind
Al Haq
Repórter Brasil
Civil Initiatives for Development and Peace
Conectas Direitos Humanos
INKOTA
Foundation for the Development of Sustainable Policies
China Labour Bulletin (CLB)
Kenya Human Rights Commission (KHRC)
Tax Justice Network Africa
African Resources Watch
Bangladesh Labour Foundation
Madhyam
Asociación Interamericana para la Defensa del Ambiente
National Organization for Working Communities
European Coalition for Corporate Justice
Community Empowerment and Social Justice Network
Interamerican Association for Environmental Defense (AIDA)
Asociación Montelimar Bendición de Dios
Fédération International des Droits de l’homme
Project on Organizing, Development, Education and Research (PODER)
Center for Environment, Human Rights and Development (CEHRD)
Stakeholder Democracy Network
Balanced Economy Project
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Action Labor Rights
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ARISA
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MACUA/WAMUA
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Alternative Information and Development Centre (AIDC)
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Action Against Impunity for Human Rights
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InKrispena
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Südwind
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Al Haq
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Repórter Brasil
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Civil Initiatives for Development and Peace
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Conectas Direitos Humanos
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INKOTA
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Foundation for the Development of Sustainable Policies
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China Labour Bulletin (CLB)
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Kenya Human Rights Commission (KHRC)
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Tax Justice Network Africa
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African Resources Watch
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Bangladesh Labour Foundation
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Madhyam
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Asociación Interamericana para la Defensa del Ambiente
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National Organization for Working Communities
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European Coalition for Corporate Justice
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Community Empowerment and Social Justice Network
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Interamerican Association for Environmental Defense (AIDA)
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Asociación Montelimar Bendición de Dios
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Fédération International des Droits de l’homme
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Project on Organizing, Development, Education and Research (PODER)
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Center for Environment, Human Rights and Development (CEHRD)
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Stakeholder Democracy Network
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Balanced Economy Project
Partner Profile
Alternative Information and Development Centre (AIDC), South Africa
The Alternative Information and Development Centre is a South African non-profit organisation founded in 1996. AIDC was established to support popular movements, including trade unions and social movements, struggling for social, economic and environmental justice.
AIDC produces and promotes alternative research and analysis, undertakes advocacy and supports movements that strive for a sustainable society free of racism, xenophobia, sexism, resource degradation, oppression, exploitation and alienation.
AIDC and SOMO collaborate on a major tax justice initiative called From the Ground.
“From the Ground is an exciting opportunity for building North-South solidarity and exchanging valuable expertise and experience – together, unravelling the web of corporate secrecy and impunity. We look forward to strengthening the fight for tax justice through this partnership in 2024 and beyond. We are also enthusiastic about learning from the experiences of others and building common strategies to advance initiatives for tax justice.”
– Jaco Oelofsen, Tax Justice Programme Officer
Partner Profile
Interamerican Association for Environmental Defense (AIDA)
The Interamerican Association for Environmental Defense (AIDA) is a regional Latin American organisation working to strengthen people’s ability to guarantee their individual and collective right to a healthy environment. For over 25 years, AIDA has used the law and science to protect the environment and communities suffering from environmental harm.
“Throughout our work together, SOMO has been a true partner, supporting us not only with financial resources but also with their team’s vast expertise and lessons learned from other geographies. Today, we’re collaborating to promote a just energy transition in Latin America by developing a strategy to address irresponsible mine closure and exit of coal companies in Colombia, something that we hope can serve as a basis for standards throughout the region. Looking ahead, we’re expanding these efforts to address a responsible exit from fossil fuels in the Amazon, avoiding new scenarios where companies abandon oil extraction and leave behind damage without remediation.”
– Gladys Martínez de Lemos, Executive Director
NGO networks
We play a key role in dozens of different Dutch, European and international networks and as a network host. We promote the exchange of information and collaboration among different NGOs towards similar goals.
OECD Watch
OECD Watch is a global network of civil society organisations (CSOs) with more than 130 members in over 50 countries. Network members share a commitment to ensuring that business activity contributes to sustainable development and poverty eradication, corporations are held accountable for their impacts, and victims of business-related abuse receive remedy. OECD Watch focuses specifically on the OECD Guidelines for Multinational Enterprises and the associated grievance mechanism, the system of National Contact Points. The OECD Watch network aims to improve the implementation and effectiveness of the guidelines and their link to parallel initiatives on corporate accountability.
MVO Platform
Hosted by SOMO, the MVO Platform is a coalition of diverse Dutch organisations working to ensure that companies are held accountable for the social, ecological, and economic consequences of their activities across their supply chains. The platform also advocates for the Dutch government to take a proactive role in fulfilling its responsibility to protect citizens from the potential negative impacts of corporate activities. MVO Platform members include Dutch labour unions, human rights groups, environmental organisations, and consumer associations, among others. The MVO Platform aims to influence the policies of the Dutch government while stimulating, facilitating, and coordinating activities involving its members.
Tax Justice Netherlands
Tax Justice Netherlands is a network of eight Dutch organisations and trade unions dedicated to raising awareness about the negative consequences of tax avoidance worldwide. The network and its members advocate for a fair global tax system and greater transparency from companies and governments. Tax Justice Netherlands is affiliated with the Global Alliance for Tax Justice.
GoodElectronics
The GoodElectronics Network includes some 100 trade unions and other organisations, activists, researchers, and academics committed to improving the protection of and respect for human rights, labour rights, and environmental sustainability in the electronics sector. The network urges companies and governments to take action to improve the entire electronics production cycle – from the mining of minerals used in electronic products to manufacturing, recycling, and electronics waste disposal. SOMO hosts the network and serves on its steering committee.
Organisational development
During 2023, SOMO doubled down on delivering its 2021 – 2025 strategy. As this was the mid-point year, the organisation made strategic additional investments in key work. The organisation expanded staffing of key initiatives following the receipt of new funding from the Dutch National Postcode Lottery and Open Society Foundations, amongst others.
Governance structure
The governance structure of SOMO is set up as follows:
- The Supervisory Board
- The Executive Board (Executive Director)
- The Management Team
- The staff
In 2023, SOMO’s Supervisory Board consisted of the following people:
- Angela Wigger (Chair since July 2022) is an Associate Professor of Global Political Economy at Radboud University in Nijmegen. Angela is also on the advisory boards of SOC21 and the journal of Global Political Economy, in addition to being part of the editorial board of Capital&Class and the book series Progress in Political Economy.
- Claire Fernandez (member) is the Executive Director of European Digital Rights (EDRi). Claire joined the SOMO Supervisory Board in April 2022.
- Radboud van Delft (member) is an Interim manager and senior management consultant for civil society and the owner of Good Purpose Consultancy.
- Fernanda Hopenhaym is the Co-Executive Director of the Project on Organising, Development, Education and Research (PODER), a Latin American organisation dedicated to corporate accountability. She is also a member of the UN Working Group on Business and Human Rights. Fernanda joined SOMO’s Supervisory Board in March 2023. In addition, Fernanda serves as treasurer of EarthRights International, a board member of All Out, and an advisor for the International Business and Human Rights Award Foundation.
The Executive Board consists of one person: Audrey Gaughran, the Executive Director, who took up the role in February 2021. Under the guidance of the Supervisory Board, the Executive Board bears the ultimate responsibility for identifying and managing the risks associated with the organisational strategy and activities. Audrey also serves on the Boards of the Balanced Economy Project and Digital Freedom Fund and chairs the Advisory Council of the Natural Resource Governance Institute, where she is also an ex-officio Board member.
The day-to-day management of the organisation is in the hands of the MT. In 2023 the team was chaired by the Executive Director and included the Programme Director, Irene Keizer, and the Manager of Finance & Operations, Roelof Gunnink (who joined SOMO in July 2023).
The staff of SOMO play a critical role in the running of the organisation. SOMO’s Statutes recognise the role of staff in making strategic decisions for the organisation. The staff meeting is an important decision-making body and decisions are taken by a qualified majority vote.
Supervisory Board report
The Supervisory Board has held five regular meetings with the Executive Director in 2023, four of which took place online. Members of the management team attended two of the sessions, and SOMO’s Strategic Litigation team presented its research to the Supervisory Board in one of the sessions. In addition, the Supervisory Board also met with the auditors, the Board and members of the Management Team to close the 2022 accounts.
On 7 October 2023, the Supervisory Board met with the Executive Director in person in Amsterdam to discuss SOMO’s substantive and operational strategy in depth. The in-person meeting on 7 October also included the annual appraisal discussion between the Supervisory Board and the Executive Director, for which the Supervisory Board consulted the Worker’s Interest Committee beforehand in a separate meeting. During this meeting, the Supervisory Board also evaluated its own functioning and the collaboration with the Board. Furthermore, the members of the Supervisory Board attended SOMO’s 50th anniversary celebrations in October and met the staff and representatives of SOMO’s partner organisations and funders during the event.
Throughout the year, the Supervisory Board provided advice and guidance to the Executive Director and the Management Team on strengthening organisational processes and procedures, including in relation to finances and human resource management. A priority for the Supervisory Board was enhancing oversight through an adjusted reporting by the Director to the Supervisory Board. A revised set of regular reports was agreed with implementation scheduled for 2024. The Supervisory Board, moreover, paid close attention to risk management and finalising elements of SOMO’s organisational transition.
The Supervisory Board very much welcomed the Board’s ambitious pursuit of producing high-quality research on strategically-selected cutting-edge issues and acknowledged the considerable efforts dedicated to communicating research results effectively. The Supervisory Board was furthermore delighted to witness the remarkable progress achieved in adapting to the new organisational structure, and in particular, the swift and successful establishment of “The Counter” – one of SOMO’s flagship initiatives that provides corporate research free of charge to a broad range of civil society organisations, journalists and activists.
The Supervisory Board has been thoroughly impressed by the Board and the Management Team’s successful endeavours in securing new, mission-aligned funding and diversifying the sources of funding for SOMO’s research.
Angela Wigger, Chair of the Supervisory Board
Finances
SOMO further strengthened its financial position in 2023 with successful fundraising and improvements to financial management processes. SOMO received new funding from the Dutch Postcode Lottery, comprising a €1 million grant, as well as substantial additional funding for work on monopoly power and Big Tech from the Open Society Foundations.
SOMO’s long-term funding strategy comprises four interrelated elements:
- diversifying our sources of income by deepening existing relationships and building new relationships with funders that are aligned with SOMO’s mission
- securing more general support flexible and unrestricted funding to ensure the structure of our funding is supportive of our work
- increasing multi-year, strategy-aligned funding
- building the organisation’s resilience, particularly by increasing our financial reserves
SOMO continued to reap the benefits of its fundraising approach in 2023 and secured funding from several sources, including:
For the third consecutive year, SOMO was successful in its fundraising in 2023 by leveraging its new strategy to good effect. In 2023, SOMO secured funding contracts from several sources:
- Not disclosed funding/Anonymous* – Combatting the Chaotic Transition (EUR 500,000 for 2 years).
- Not disclosed funding/Anonymous* – The Counter (USD 300,500 for 3 years).
- Freedom Fund – Continuation of support for ‘LegalNet’, a networked approach to strategic litigation for human rights (USD 88,110 for 1 year).
- Friends of the Earth Europe – MVO Platform EU Corporate Sustainability Due Diligence Directive (USD 30,000 for 9 months).
- Laudes Foundation – Strengthening coherence and rigour in concurrent due diligence initiatives (EUR 247,614 for 19.5 months).
- Ministry for Foreign Affairs of Finland – From the Ground (EUR 1,900,000 for 2.5 years).
- Nationale Postcode Loterij – The Counter (EUR 1,000,000 for 3 years).
- National Endowment for Democracy – Strengthening Global Standards on Responsible Business Conduct (USD 125,000 for 1 year).
- Open Society Foundations: Digital Merger Monitoring Project (USD 474,253 for 3 years).
- Establishing a research fund to advance education on monopoly power and market concentration by building a vibrant and effective anti-monopoly movement (USD 600,000 for 3 years).
(*While some funders prefer not to disclose themselves in public documents, SOMO’s full screening and ethical checks are applied to all funders in line with our policy.)
SOMO continues to benefit from a Ford Foundation BUILD grant, which provides five years of general operating support combined with targeted organisational strengthening support. In 2023, Ford awarded USD 1,620,000 for 2023-2026.
As a result of successful fundraising SOMO was able to rebuild its continuity reserve in 2022 and added to these reserves in 2023. At the close of 2022, SOMO’s reserves stood at EUR 809,441. In 2023, we increased our continuity reserve to EUR 1,075,167. This increases organisational resilience and effectiveness.
SOMO’s expenditure compared to the budget in 2023 (see Statement of Income and Expenditure 2023) showed a substantial increase in spending on project activities. This additional spending was due to a number of factors. SOMO secured additional income and hired new staff in 2023, leading to an uptick in activities. Additionally, SOMO frontloaded some partner sub-grants for 2024 in 2023. SOMO also identified opportunities in 2023 to advance the organisation’s mission by investing in strategic new projects that were aligned with our 2021 – 2025 strategy. As 2023 is the mid-year point, the MT decided to make investments, using both new funding and frontloading some existing multi-year funding. This latter will have impacts on activity budgets in 2024 and 2025, which will see some reductions.
A EUR 440,001 designated reserve organisational strenghtening was not used in 2023, as SOMO was fortunate enough to secure funding for this purpose. In light of the outcome of the Dutch elections in November 2023, the board has decided to reallocate EUR 290,001 from this reserve and add it to SOMO’s existing continuity reserve, improving organisational resilience. The EUR 150,000 left in the designated organisational strenghtening reserve will be reserved for IT and HR-related development.
SOMO has further diversified its sources of income and reduced the proportion of funding from the Dutch Ministry of Foreign Affairs (from 57% in 2021 to 49% in 2023). Progress on diversification of funding and reducing our dependence on the Dutch Ministry of Foreign Affairs took on additional importance in 2023. In November 2023, the unexpected outcome of the Dutch elections, which saw far-right parties gain ground, has implications for future funding from the Ministry of Foreign Affairs. It is likely that at the end of the current funding cycle in 2025, further Dutch government subsidies will no longer be available for organisations such as SOMO. This creates a significant funding challenge for the organisation, and our fundraising priority in 2024 and 2025 will be on securing replacement funding.
SOMO Budget 2024
| Amounts in euros | |
|---|---|
| Income | |
| Dutch Ministry of Foreign affairs | 2,954,950 |
| Other governments | 1,426,796 |
| Private foundations | 1,713,589 |
| Other contributors | 1,075,478 |
| Total income | 7,170,813 |
| Expenditure | |
| Personnel Costs | 4,746,574 |
| Direct Project Costs | 1,800,000 |
| General expenses | 593,500 |
| Total Expenditure | 7,140,074 |
| Financial expenses | -18,000 |
| Total | -18,000 |
| Result | 12,739 |
Risk Management
SOMO has a risk management policy and maintains a risk register. Risks are discussed with the Supervisory Board at regular meetings. In 2023, SOMO’s risks were generally low. Having achieved financial stability and secured additional and diversified funding, the organisation was able to focus fully on the delivery of key work. This situation changed following the November 2023 election results in the Netherlands, as discussed above, and the loss of Ministry of Foreign Affairs funding is now a significant risk for the organisation in the coming years. SOMO’s MT has put in place a strategy to mitigate the risk, based primarily on investing significantly in fundraising in 2024 and moving organisational development reserves into SOMO’s continuity reserves.
Financial Risks
SOMO made progress on stabilising its Finance team in 2023, with the appointment of Roelof Gunnink as Manager of Finance & Operations. Roelof brings financial management knowledge and a broad skill set to SOMO.
In common with many civil society organisations, we continued to struggle to secure a financial controller on staff. Those with the relevant skill set can earn far more in the private sector. While this presents a risk, during 2023, SOMO benefited from working with a consultant financial controller who has worked with the organisation for many years and knows our systems. With the additional capacity and oversight brought by our new Finance and Operations Manager, SOMO’s ability to manage financial systems was improved in 2023. Following the appointment of Roelof Gunnink, the MT identified a need to further update finance policies and processes to ensure accurate and timely data is available to enable good financial control. Work in this area commenced in 2023 and will continue in 2024.
SOMO was well-funded in 2023 and did not face financial risks in terms of adequacy, funding, or cash flow.
IT and digital security
Digital security is constantly on our radar, including when working with partners. Ensuring that communications, personal data and sensitive information are secure is a priority for SOMO.
The main focus of the IT team in 2023 was on supporting a server migration. This was done with the aim of improving SOMO’s systems and the use of open-source technology. The move led to some challenges for SOMO’s staff, as bugs and unexpected migration issues arose. These challenges did not affect IT security but did cause some delays in wider SOMO work. In order to move forward effectively, SOMO has taken time to look at the lessons learned from the server migration and will secure the help of external experts in 2024 to complete the changes in our IT system, with a focus on ensuring SOMO staff can work effectively.
Organisation
At SOMO, we endeavour to align our internal organisation with our core values. We are proud to be a non-hierarchical organisation where staff members jointly make decisions on strategic matters.
SOMO aims to be a good employer and a reliable partner in cooperation. As a research organisation, it is our first responsibility to be accountable for our research and network-related activities. As a watchdog organisation, we take responsibility to avoid causing harm in our work. Our Code of Conduct and Complaints Procedure are based on this principle. In 2022, we updated our Code of Conduct, and in 2023, staff signed the Code as part of ongoing efforts to ensure SOMO’s values are well embedded in work culture and practices, particularly as the organisation grows.
SOMO strives to ensure that our suppliers and service providers are of the most sustainable nature possible. Wherever possible, SOMO chooses fair trade, green, organic, recycled or second-hand items.
SOMO’s travel policy takes climate change and sustainability into account. SOMO employees are reimbursed for commuting costs by public transport. For work-related travel, people are strongly discouraged to fly within a 700-kilometre radius from Amsterdam.
SOMO was recertified in 2023 for two quality certificates: the international NEN-EN-ISO 9001:2015 certification and the Dutch Partos 9001:2015 certificate, which is a specific application of the ISO 9001:2015 standard for the development sector
Human Resources Matters
SOMO prioritises staff wellbeing and workplace safety. We have mechanisms in place to support staff in this regard, which meet, and in some cases exceed, the requirements of Dutch labour law. This includes a Confidential Counsellor, whom staff can contact for any reason to discuss difficulties in their work or personal life. The confidential counsellor provides an annual report to the MT, which includes any advice for action she deems necessary. In February 2024, we received the 2023 report from the external confidential advisor. This report showed that, in 2023, no reports were made to the confidential advisor by staff.
In 2023, SOMO continued to improve its new project planning procedures, which aim at ensuring work is more strategic and that the workloads of each person are manageable. Supported by the Project Management Unit, SOMO’s MT evaluates the likely workload of staff and, in dialogue with staff members, seeks to agree on manageable commitments at the start of each year. This is also evaluated regularly, and in 2023, SOMO again engaged temporary staff in some project areas to ensure effective delivery and prevent stress-related illness that can be due to overwork.
In 2023, we have also, with expert external help, sought to bring about culture change – moving from a culture where decision-making was unclear and subject to paralysis if consensus was not reached and where there was confusion about the roles of the Board, MT and Staff as prescribed in SOMO’s Statutes, to a place of clarity and effectiveness. As a result, SOMO entered 2024 with greater clarity on decision-making and plans to improve some aspects of decision-making. In 2023, we worked to significantly improve transparency around decision-making.
SOMO also invested in other HR-related improvements in 2023, including:
- Updating the social safety policy and sharing with staff: SOMO completed an update of its employee manual and made changes to implement mandatory policies on Psychosocial Occupational Health Hazards (POHH). These changes include the changes recommended by SOMO’s Confidential Counsellor in 2022 in relation to social safety policy.
- SOMO put in place an external complaint committee. This is not a legal requirement for the organisation, but we see it as good practice. This is a professional body with which we have a contract, and it will review complaints made by staff, partners or other parties, if any. All staff were informed of this.
- Ensuring exit interviews with employees who leave SOMO and relevant feedback from departing staff is discussed by the MT.
- Professionalising the onboarding process for new staff.
Additionally, during 2023, SOMO continued to facilitate and fund coaching sessions for SOMO colleagues on their work, career or working relationships.
During 2023 SOMO also engaged a coach to support the MT to improve its functioning and its ability to bring clarity to ways of working at SOMO. This coaching of the MT will continue in 2024.
Staff wellbeing
SOMO continued to prioritise staff well-being in 2023 and secured the services of a senior consultant to support the MT in this regard. During 2023 SOMO staff benefited from training on giving and receiving feedback, which was linked to improvements in our annual appraisal process. The organisation has steadily improved annual appraisals as a key tool to support staff in their work.
As the SOMO team expanded in 2023, with 15 new hires, we also prioritised social and non-work interactions to ensure new colleagues could integrate well.
Anti-racism, diversity, equality and inclusion
SOMO is deeply committed to anti-racism, decolonising and improving diversity, equality and inclusion (DEI) in the workplace. During 2023, as we reflected on our 50th year, we recognised a need to challenge ourselves more profoundly across our work and ways of working to ensure that we are fully living our values. To this end, SOMO engaged an expert trainer and adviser on anti-racism and DEI. During 2023, she engaged with small staff groups and the MT to understand how the organisation works, and in 2024, she will work with the MT and all staff to provoke greater awareness and insights into how SOMO can ensure we are what we believe in.
New staff representation model
From Werknemers Belangen Commissie (WBC) to Works Council (Ondernemingsraad (OR))
SOMO’s staffing approached 50 people in 2023, which is the threshold for a formal form of employee participation under Dutch law. Also, in 2023, the WBC (Werknemers Belangen Commissie), which had an informal status, resigned. To establish a new form of staff representation through an official Works Council, a committee will be set up in 2024 that will design this process.
Financial statements 2023
Balance sheet as of 31st of December 2023
| Amounts in euros | 31/12/2023 | 31/12/2022 | ||
|---|---|---|---|---|
| Assets | ||||
| Fixed assets | ||||
| Intangible fixed assets | 101,701 | 24,386 | ||
| Tangible fixed assets | 199,901 | 219,211 | ||
| 301,602 | 243,597 | |||
| Current assets | ||||
| Receivables, prepayments and accrued income | ||||
| Trade debtors | 33,326 | 104,256 | ||
| Subsidy receivable | 1,249,652 | 627,330 | ||
| Taxation and social securities Receivables | - | 2,390 | ||
| Prepayments and accrued income | 31,919 | 45,504 | ||
| 1,314,897 | 779,480 | |||
| Securities | 1,974 | 1,422 | ||
| Cash and bank balances | 3,464,601 | 3,478,212 | ||
| Total assets | 5,083,074 | 4,502,711 | ||
| Liabilities | ||||
| Equity | ||||
| Continuity reserve | 1,075,167 | 809.441 | ||
| Designated reserve organisational strenghtening | 150,000 | 440,001 | ||
| 1,225,167 | 1,249,442 | |||
| Current liabilities, accurals and deferred income | ||||
| Creditors | 585,413 | 655,174 | ||
| Avanced payments/ advances received on subsidies | 2,427,031 | 1,212,520 | ||
| Taxation and social securities payable | 245,235 | 588,413 | ||
| Staff costs payable | 492,937 | - | ||
| Accruals and deferred income | 107,291 | 797,162 | ||
| 3,857,907 | 3,253.269 | |||
| Total liabilities | 5,083,074 | 4,502,711 | ||
Statement of Income and Expenditure 2023
| Amounts in Euros | 2023 Actual | 2023 Budget | 2022 Actual |
|---|---|---|---|
| Income | |||
| Government grants/subsidies | |||
| Dutch Ministry of Foreign Affairs | 3,511,420 | 2,633,191 | 3,139,131 |
| European Commission | 99,815 | 133,494 | 382,449 |
| Other Government grants | 1,088,201 | 823,107 | 534,087 |
| Private foundations | 1,883,261 | 1,601,316 | 2,128,230 |
| Income from lottery organisations | 238,033 | - | - |
| Other contributions | 367,288 | 262,000 | 661,840 |
| 7,188,018 | 5,453,108 | 6,845,737 | |
| Professional services | 34,744 | 100,000 | 114,835 |
| Other income | 3,000 | 400,000 | 4,476 |
| Total income | 7,225,762 | 5,953,108 | 6,965,048 |
| Expenditures | |||
| Direct project costs | 3,058,163 | 1,600,000 | 2,523,690 |
| Personnel costs | 3,616,854 | 3,804,400 | 2,754,306 |
| General expenses | 539,413 | 537,700 | 384,065 |
| Total expenditure | 7,214,430 | 5,942,100 | 5,662,061 |
| Operation result | 11,332 | 11,008 | 1,302,987 |
| Financial income and expenses | -38,110 | -10,000 | -57,320 |
| Result on ordinary activities before taxation | -26,777 | 1,008 | 1,245,667 |
| Taxation on ordinary activities | 2,503 | - | -7,095 |
| Result after taxation | -24,275 | 1,008 | 1,238,572 |
| Appropriation of result | |||
| Designated reserve organisational strenghtening | - | - | 440,001 |
| Continuity reserve | -24,275 | 1,008 | 798,571 |
| Total | -24,275 | 1,008 | 1,238,572 |
Organisational result
The board and supervisory board of SOMO have decided to allocate the result after taxation 2023 as follows: EUR 24,275 charged to continuity reserves. With approval of the supervisory board, the board has decided to withdraw EUR 290,001 from the designated reserve for organisational development and add it to the continuity reserve.
Cash Flow Statement 2023
| Amounts in Euros | 2023 Actual | 2022 Actual |
|---|---|---|
| Cash flow from operating activities | ||
| Result from the statement of income and expenditure | -24,275 | 1,238,572 |
| Adjustments for: | ||
| Depreciation | 61,712 | 63,613 |
| Total adjustments | 61,712 | 63,613 |
| Changes in working capital: | ||
| Short-term receivables | -535,416 | -507,926 |
| Short-term debts | 604,637 | 483,946 |
| Total changes in working capital | 69,221 | -23,980 |
| Total cash flow from operating activities | 106,658 | 1,278,205 |
| Cash flow from investment activities | ||
| Investments in intangible fixed assets | -101,821 | - |
| Investments in tangible fixed assets | -17,896 | -19,000 |
| Total cash flow from operating activities | -119,717 | -19,000 |
| Cash flow from financial activities | ||
| Financial activities | - | - |
| Total cash flow from financial activities | - | - |
| Changes in cash and cash equivalents | -13,059 | 1,259,205 |
| Cash and cash equivalents | ||
| Balance per 1 January | 3,479,634 | 2,220,429 |
| Balance per 31 December | 3,466,575 | 3,479,634 |
| Changes in cash and cash equivalents | -13,059 | 1,259,205 |
Accounting Principles for Financial Reporting
General accounting principles for the preparation of the financial statements
The financial statements have been prepared in accordance with Title 9, Book 2 of the Dutch Civil Code. For the preparation and presentation of the financial statements, SOMO uses the Guidelines for annual reporting of the Dutch Accounting Standards Board as well, especially Guideline 640 “Organisations not for profit”.
Valuation of assets and liabilities and determination of the result takes place under the historical cost convention. Unless presented otherwise, the relevant principle for the specific balance sheet item, assets and liabilities are presented at amortised cost price. Income and expenses are accounted for on accrual basis.
Expenses are determined taking the mentioned valuation principle into account. Profit is only included when realised on balance sheet date. Losses originating before the end of the financial year are taken into account when ascertained before preparation of the financial statements. The general accounting principles for the valuation of assets and liabilities and determination of the result are unchanged compared to last year.
Comparative figures are, where appropriate, adjusted in terms of classification only for comparison purposes.
Principles of valuation of assets and liabilities
Fixed assets: Intangible and tangible fixed assets are presented at cost less accumulated depreciation and, if applicable, less impairments in value. Depreciation is based on the estimated useful life and calculated as a fixed percentage of cost. Depreciation is provided from the date an asset comes into use.
The following fixed percentages of cost are used for depreciation:
Intangible assets
- Software: 20% a year
Tangible fixed assets
- Rebuilding: 10% a year
- Computers and software: 20% a year
- Office equipment: 20% a year
Receivables: Receivables are included at face value, less any provision for doubtful accounts. These provisions are determined by individual assessment of the receivables.
Securities: The listed shares are valued at the market value as at balance sheet date, with which both realised and unrealised changes in value are directly accounted for in the profit and loss account.
Principles for the determination of the result
Government grants / contributions (allowances): Allowances are included in the statement of income and expenses in the year in which the subsidised expenses are realised.
Professional services: Revenues from professional services are recognised in proportion to the services rendered. The direct costs of these services are allocated to the same period.
Taxation: Corporate income tax is calculated at the applicable rate on the result for the financial year, taking into account permanent differences between profit calculated according to the financial statements and profit calculated for taxation purposes.
Notes to the balance sheet 31st December 2023
| Amounts in Euros | 2023 Total |
|---|---|
| Intangible fixed assets | |
| Purchase value at historical cost | 223,693 |
| Accumulated depreciation | -199,307 |
| Balance as of 1 January | 24,386 |
| Investments | 101,821 |
| Desinvestments | 15,995 |
| Depreciations | -24,506 |
| Depreciation desinvestments | -15,995 |
| Total movements 2023 | 77,315 |
| Purchase value at historical cost | 341,510 |
| Accumulated depreciation | -239,808 |
| Balance as of 31 December | 101,701 |
| Amounts in Euros | Renovations | Inventory | 2023 Total |
|---|---|---|---|
| Tangible fixed assets | |||
| Purchase value at historical cost | 276,253 | 222,040 | 498,293 |
| Accumulated depreciation | -92,582 | -186,500 | -279,082 |
| Balance as of 1 January | 183,671 | 35,540 | 219,211 |
| Investments | - | 17,896 | 17,896 |
| Desinvestments | -54,528 | -140,134 | -194,663 |
| Depreciations | -22,551 | -14,655 | -37,207 |
| Depreciation desinvestments | 54,528 | 140,134 | 194,663 |
| Total movements 2023 | -22,551 | 3,241 | -19,310 |
| Purchase value at historical cost | 221,725 | 99,802 | 321,526 |
| Accumulated depreciation | -60,605 | -61,021 | -121,626 |
| Balance as of 31 December | 161,120 | 38,781 | 199,901 |
| Amounts in Euros | 31-12-2023 | 31-12-2022 |
|---|---|---|
| Assets | ||
| Trade debtors | ||
| Trade debtors | 33,326 | 107,256 |
| Provision for irrecoverable debts | - | -3,000 |
| Total trade debtors | 33,326 | 104,256 |
| Subsidy receivable | ||
| Both Ends - Fair Green and Global Alliance (Power of Voices Partnership) | 504,250 | 46,232 |
| Bröt fur die Welt - Promoting human rights and accountability along global battery supply chains | 67,000 | - |
| EU Horizon 2020 | 47,328 | - |
| Anonymous - Combatting the Chaotic Transition | 22,728 | - |
| Ministry for Foreign Affairs of Finland - Justice in the just transition | 3,564 | - |
| MoFA Netherlands Human Rights Fund - Mind the Gap | - | 89,158 |
| EuropeAid - Together for Decent Leather | - | 50,112 |
| Business and Human Rights Resource Centre – Justice in the just transition (MFA Finland) | - | 27,516 |
| National Endowment for Democracy - Strengthening Global Standards on Responsible Business Conduct | 3,352 | 41,796 |
| Brot für die Welt - GoodElectronics | - | 1,000 |
| Oxfam Novib - Fair Finance Asia (SIDA) | - | 21,338 |
| DRL - Promoting Labour rights in China | 571,431 | 193,740 |
| Brot für die Welt - Climate Change, ESG and Sustainable Finance in the G20 | 30,000 | 3,979 |
| Civitates - A healthy public sphere | - | 3,000 |
| Rijksdienst voor Ondernemen - Together for Decent Leather cofinancing | - | 149,459 |
| Total subsidy receivable | 1,249,652 | 627,330 |
| Taxation and social securities | ||
| Income tax | - | 2,390 |
| Total taxation and social securities | - | 2,390 |
| Prepayments and accrued income | ||
| Professional services to invoice | - | 21,939 |
| Other prepayments and accrued income | 31,919 | 23,565 |
| Total prepayments and accrued income | 31,919 | 45,504 |
| Securities | ||
| Stocks | 1,974 | 1,422 |
| Total securities | 1,974 | 1,422 |
| Cash and bank balances | ||
| Current accounts | 2,084,979 | 2,711,647 |
| Interest accounts | 1,378,959 | 767,854 |
| Money in transit | 663 | -1,289 |
| Total cash and bank balances | 3,464,601 | 3,478,212 |
| Amounts in Euros | Begin financial year 2023 | Additions | Withdrawals | End financial year 2023 |
|---|---|---|---|---|
| Liabilities | ||||
| Equity | ||||
| Continuity reserve | 809,441 | 290,001 | 24,275 | 1,075,167 |
| Designated reserve organisational strenghtening | 440,001 | 290,001 | 150,000 | |
| Total equity | 1,249,442 | 290,001 | 314,276 | 1,225,167 |
| Amounts in Euros | 31/12/2023 | 31/12/2022 |
|---|---|---|
| Liabilities | ||
| Creditors | ||
| Creditors | 143,650 | 130,160 |
| Contract obligations project partners | 441,761 | 525,014 |
| Total creditors | 585,411 | 655,174 |
| Advanced payments/ advances received on subsidies | ||
| Nationale Postcode Loterij - The Counter | 761,967 | - |
| Open Society Foundation - Research fund anti-monopoly | 565,482 | - |
| Open Society Foundation - Digital Mergers | 415,844 | - |
| Anonymous - The Counter | 209,374 | - |
| Laudes - Strengthening coherence and rigour in concurrent DD initiative | 130,764 | - |
| Ministry for Foreign Affairs of Finland - From the Ground | 139,135 | - |
| Oxfam Novib - Fair for All (Power of Voices Partnership) | 138,669 | 541,630 |
| Freedom Fund - Strategic Litigation | 41,011 | 55,400 |
| MVO Platform | 24,785 | 48,374 |
| Ministry for Foreign Affairs of Finland - Going public | - | 198,130 |
| Humanity United Action - Due Diligence advocacy | - | 193,125 |
| Climate and Land Use Alliance (CLUA) | - | 132,082 |
| EU Horizon 2020 | - | 25,839 |
| Swedwatch - OECD Watch | - | 14,412 |
| Stichting Media en Democratie | - | 3,528 |
| Total advanced payments | 2,427,031 | 1,212,520 |
| Taxation and social securities | ||
| VAT | 45,016 | 519,440 |
| Payroll tax and social securities | 100,195 | 68,973 |
| Total taxation and social securities | 145,211 | 588,413 |
| Other accruals and deffered income | ||
| Holiday pay | 122,335 | 97,501 |
| Leave days | 158,649 | 138,074 |
| Prepayments profesional services | - | - |
| Audit fee | - | 62,975 |
| Salaries | 1,953 | 86,344 |
| Thirteenth month | 210,000 | 161,319 |
| Rent | - | 35,603 |
| Pension | 100,024 | 100,917 |
| Other accruals | 107,291 | 114,422 |
| Total other accruals and deffered income | 700,252 | 797,155 |
Prepayments and accrued income
For the development of project management software SOMO joined the user platform of Matthat. Together with nine other organisations SOMO invests in the development of tailor made project management software. The user platform agreement with Matthat was on a Return on Investment (ROI) in case Matthat is able to sell the software also to other clients. This agreement runs for five years till after the investment was made. SOMO’s last investments were made in 2020.
Cash and bank balances
Except for one bank guarantee for the lease of our building (with the sum of EUR 19,147), all cash and bank balances are available for expenditure by SOMO.
SOMO only buys shares when this is necessary in the context of a project, for instance in order to be able to attend a general shareholders’ meeting. All dividend and currency profits are reserved as gifts for third parties. SOMO does not buy shares as an investing policy.
Subsidy receivables
Audit reports were issued for the following funding subsidies: Oxfam Novib (Fair for All – MoFA Strategic Partnership 2021-2026); Both ENDS (Fair, Green and Global – MoFA Strategic Partnership 2021-2026); / European Commission (Together for Decent leather); MoFA Finland (Going Public); Brot für die Welt (Promoting human rights & accountability)
Equity
Continuity reserve: SOMO builds its continuity reserves in line with the Erkenningsregeling Goede Doelen, which recommends that continuity reserves are based on a risk assessment. SOMO prepared a risk assessment in order to determine the necessary level of continuity reserve. Most important risks are related to high donor dependency and litigation because of our projects. SOMO has determined that it should have in place a minimum continuity reserve of EUR 1,240,000 and an optimal continuity reserve of EUR 1,750,000.
In 2022, SOMO established a designated organisational strenghtening reserve to ensure sufficient flexibility. The MT would use the reserve in three key areas: increasing the capacity of key support services, developing innovations in research and communications, and completing transition processes. In 2023, EUR 290,001 of this reserve was transferred to the continuity reserve.
Contingent assets and liabilities
At the end of 2023, there is one bank guarantee for the sum of EUR 19,147. This relates to the lease for the building of SOMO at KNSM-laan 17 in Amsterdam.
SOMO has a defined benefit pension plan for its employees on retirement with the pension fund Zorg en Welzijn. SOMO pays two-third of the premium and one-third is paid by the employee. SOMO has no obligation to pay additional contributions to the pension fund other than higher future premiums. Therefore the premiums due until the end of the period are reported in the financial statements.
The contracts with project partners refer to short-term debts (generally one year, in a small number of cases, two years) for cooperation in joint projects or subcontracting in services delivery.
The financial commitment for the programmes SOMO conducts with consortium partners is on an annual basis. For the period of the programme, SOMO signed a Memorandum of Understanding with the consortium partners. In the case of the programme commissioned by the Dutch Ministry of Foreign Affairs, SOMO also signed a Memorandum of Understanding with the project partners. Financial commitments have only been agreed on an annual basis. The cooperation for the whole programme period is conditional on the timely delivery of results and reporting.
Liabilities not shown in the balance sheet
A rent agreement was signed April 15th 2021 for the location KNSM-laan 17 in Amsterdam. The rent agreement is for a period of 5 year as from August 1, 2021. The annual rent for 2023 amounts to EUR 99,591.
Notes to Statement of Income and Expenditure 2023
| Amounts in Euros | 2023 Actual | 2023 Budget | 2022 Actual |
|---|---|---|---|
| Income | |||
| Government grants | |||
| Dutch Ministry of Foreign Affairs | |||
| MoFA Netherlands Human Rights Fund – Mind the Gap | - | - | 450,738 |
| Both Ends - Fair Green and Global Alliance (Power of Voices Partnership) | 2,160,593 | 1,685,325 | 1,795,014 |
| Oxfam Novib - Fair for All (Power of Voices partnership) | 1,350,827 | 947,866 | 893,379 |
| Total Dutch Ministry of Foreign Affairs | 3,511,420 | 2,633,191 | 3,139,131 |
| European Commission | |||
| EuropeAid - Together for Decent Leather | 26,649 | 48,578 | 332,862 |
| EU Horizon 2020 | 73,167 | 84,916 | 49,587 |
| Total European Commision | 99,816 | 133,494 | 382,449 |
| Other Government grants | |||
| Ministry for Foreign Affairs of Finland - Going public | 198,130 | 213,946 | 161,183 |
| Ministry for Foreign Affairs of Finland - From the Ground | 335,915 | - | - |
| DRL - Promoting Labour rights in China (USA) | 377,691 | 425,874 | 193,740 |
| Business and Human Rights Resource Centre – Justice in the just transition (MFA Finland) | 170,224 | 183,288 | 132,286 |
| Oxfam Novib - Fair Finance Asia (SIDA) | - | - | 46,878 |
| Other | 6,241 | - | - |
| Total other Government grants | 1,088,201 | 823,107 | 534,087 |
| Total Government grants | 4,699,437 | 3,589,792 | 4,055,667 |
| Private foundations | |||
| Ford Foundation - General, project support & institutional strengthening | 331,258 | 350,000 | 1,323,316 |
| Adessium Foundation - From big tech to tech for all | 100,000 | 100,000 | 100,000 |
| Civitates - A healthy digital public sphere | - | - | 30,000 |
| Open Society Initiative for Europe - Core funding | - | 350,000 | 351,303 |
| Open Society Institute - IFF & Private debt restructuring | - | - | 7,225 |
| Wemos - Pharma (Open Society Foundation) | - | - | 6,026 |
| Brot für die Welt - Promoting human rights & accountability | 259,000 | 297,815 | 124,000 |
| Brot für die Welt - Climate Change, ESG and Sustainable Finance | 26,021 | 23,631 | 23,979 |
| National Endowment for Democracy - Strengthening Global Standards on Responsible Business Conduct | 196,729 | 104,497 | 26,108 |
| Climate and Land Use Alliance (CLUA) | 132,082 | 87,373 | 132,163 |
| Freedom Fund - Strategic Litigation | 91,810 | 88,000 | 4,110 |
| Humanity United | 193,125 | 200,000 | - |
| European Coalition for Corporate Justice (ECCJ) - MVO Platform | 25,000 | - | - |
| Friends of the Earth Europe (FOEE) - MVO Platform | 77,355 | - | - |
| Anonymous - The Counter | 65,407 | - | - |
| Laudes - Strengthening coherence and rigour in concurrent DD initiatives | 69,236 | - | - |
| Anonymous - Combatting the Chaotic Transition | 272,728 | - | - |
| Open Society Foundation - Digital Mergers | 11,671 | - | - |
| Oxfam Novib - Food Commodity Traders | 31,840 | - | - |
| Total Private foundations | 1,883,261 | 1,601,316 | 2,128,230 |
| Lottery organisations | |||
| Nationale Postcode Loterij - The Counter | 238,033 | - | - |
| Total Lottery organisations | 238,033 | - | - |
| Other contributions | |||
| SwedWatch - OECD Watch | 14,412 | - | - |
| Membership contributions OECD Watch | 22,900 | 7,000 | 42,079 |
| Membership, and other contributions MVO Platform | 213,235 | 180,000 | 289,274 |
| Membership contributions Tax Justice Nederland | 87,000 | 75,000 | 88,600 |
| Mondiaal FNV contribution Decent Leather | - | - | 29,401 |
| Rijksdienst voor Ondernemend Nederland | - | - | 92,648 |
| Donations | - | - | 5,851 |
| Own contribution to projects/cofinancing | 29,741 | - | - |
| Other contributions | - | 400,000 | 11,078 |
| Total other contributions | 367,288 | 662,000 | 558,931 |
| Professional services | |||
| Corporate research | 27,544 | 100,000 | 52,849 |
| Sector research | - | - | 8,251 |
| Country and policy research | - | - | - |
| Quick Scans | - | - | - |
| Supply chain research | 7,200 | - | 43,885 |
| Training courses | - | - | 5,125 |
| Consultancy | - | - | 4,725 |
| Total professional services | 34,744 | 100,000 | 114,835 |
| Total professional services | 34,744 | 100,000 | 114,835 |
| Expenditures | |||
| Direct project costs | |||
| Contracted work | 1,104,519 | 1,600,000 | 1,144,974 |
| Travel costs | 293,029 | - | 119,581 |
| Office expenditure | 394,538 | - | 246,665 |
| Telephone and postage | - | - | 204 |
| Printed matter | - | - | 36,026 |
| Freelancers projects | 1,078,550 | - | 785,102 |
| Other direct project costs | 187,528 | - | 191,138 |
| Total direct project costs | 3,058,163 | 1,600,000 | 2,523,690 |
| Personnel costs | |||
| Salaries | |||
| Gross wages | 2,166,922 | 2,098,000 | 1,712,273 |
| Social securities | 400,638 | 374,000 | 296,204 |
| Pension contributions | 315,170 | 322,000 | 244,247 |
| Change in debt holiday pay | 157,432 | 168,000 | 136,301 |
| Change in debt holiday days | 20,575 | - | 31,119 |
| Total salaries | 3,060,737 | 2,962,000 | 2,420,144 |
| Remaining personnel expenditure | |||
| Study | 85,505 | 56,000 | 27,920 |
| Insurance | 117,480 | 108,000 | 68,047 |
| Travel costs staff | 37,400 | 22,000 | 16,312 |
| Thirtheenth month | 195,224 | 180,000 | 161,319 |
| Costs freelance support staff | - | 220,000 | 82,573 |
| Temporary agency staff | - | 100,000 | - |
| Recruiting costs | 344 | 30,000 | 36,144 |
| Other personnel costs | 78,532 | 176,400 | 48,127 |
| Total remaining personnel expenditure | 514,485 | 892,400 | 440,442 |
| Subtotal personnel costs | 3,575,222 | 3,854,400 | 2,860,586 |
| minus: received payments for illness | -33,627 | -50,000 | -106,280 |
| Total personnel costs | 3,541,595 | 3,804,400 | 2,754,306 |
| General expenses | |||
| Software and hardware | |||
| Software and development | 80,988 | 42,800 | 41,542 |
| Hardware | 635 | 6,000 | 1,013 |
| System management IT | 10,444 | 30,000 | 8,743 |
| Subtotal software and hardware | 92,066 | 78,800 | 51,298 |
| Housing expenses | |||
| Rent and energy | 90,161 | 111,000 | 105,447 |
| Insurance and taxes | 2,666 | 3,200 | 2,653 |
| Maintenance and cleaning | 16,500 | 15,900 | 14,793 |
| Other housing expenditure | 3,230 | 5,000 | 5,787 |
| Subtotal housing expenses | 112,556 | 135,100 | 128,680 |
| Office expenses | |||
| Catering | 17,464 | 10,000 | 10,983 |
| Telephone and internet | 4,532 | 3,000 | 3,799 |
| Postage and dispatch | - | 500 | - |
| Printed matter | - | 1,900 | - |
| Office supplies | - | 2,000 | - |
| Contributions | 9,132 | 8,800 | 8,137 |
| Literature | - | 500 | - |
| Databank | 69,784 | - | 13,090 |
| PR and publicity expenditure | 67,956 | 62,200 | 2,282 |
| Translation/interpreters | - | 300 | - |
| Other offices expenses | 7,064 | 7,500 | 12,735 |
| Subtotal office expenses | 175,932 | 96,700 | 51,026 |
| Organisation and administration expenses | |||
| Advice | 39,052 | 20,500 | 75,187 |
| Audit fee | 42,229 | 65,000 | 69,571 |
| Administration costs | -18,033 | 17,000 | 59,150 |
| Insurances | 14,040 | 10,500 | 9,925 |
| Fundraising | - | 10,000 | - |
| Other general expenses | 19,858 | 47,200 | 4,913 |
| minus charged for: | |||
| Project costs organisational and administration expenses | - | - | -129,298 |
| Subtotal organisation and administration expenses | 97,146 | 170,200 | 89,448 |
| Depreciation | 61,713 | 56,900 | 63,613 |
| Total general expenses | 539,413 | 537,700 | 384,065 |
Explanation donations
In 2023, SOMO received EUR 2,037 in donations (2021: EUR 5,851).
For the use of this income, the following parameters apply:
1. Where a donation is received with a clear preference expressed as to how it is used, SOMO will use this income in the programme that best fits this preference.
2. Where SOMO receives general donations this income will be used to cover the general costs of programme delivery.
Personnel costs
On average in 2023, SOMO was employing 42 people (2022: 37) with an average FTE of 33.5 (2022: 28.2 FTE).
The freelance costs of personnel refer to people working for SOMO on a non-permanent basis for either projects and/or support.
SOMO has insurance for long-term sick leave. As such, amounts have been received for EUR 33,627 (2022: EUR 106,280).
Taxation on ordinary activities
SOMO is liable for corporate income taxes on commercial activities only. These activities did not generate a positive result; therefore, no CIT has been accrued.
Although SOMO is not legally bound to disclose management remuneration according to the Dutch Law Executives’ Remuneration Financed from Public Funds (Disclosure) Act Wet normering bezoldiging topfunctionarissen publieke en semipublieke sector (WNT) we think it is important to do so to be transparent. Below we specify in an overview the amounts paid (including long-term remunerations) to our executives. The Executive Director, Director of Programmes and the Manager Finance and Operations together form our management team and lead the organisation.
Based on the WNT, the income of top officials in the (semi) public sector may not exceed the maximum of 100% of the minister’s salary. For 2023 the maximum amount is EUR 223,000 including taxable allowances and employer pension contributions.
Our Supervisory Board members are unpaid.
| Amounts in euros | |||
|---|---|---|---|
| Overview management remuneration 2023 | |||
| Name | Audrey Gaughran | Irene Keizer | Roelof Gunnink |
| Title | Executive Director | Programme Director | Manager Finance & Ops |
| Contract | Employment Contract | Employment Contract | Employment Contract |
| Start and end date performance | January 1st - December 31st 2023 | January 1st - December 31st 2023 | July 1st - December 31st 2023 |
| No. of months performed 2023 | 12 | 12 | 6 |
| FTE | 1.0 | 0.9 | 0.9 |
| Remuneration | |||
| Remuneration plus taxable expenses | 127,748 | 94,647 | 33,802 |
| Remuneration payable in the future | - | - | - |
| Subtotal | 127,748 | 94,647 | 33,802 |
| Individual remuneration maximum WNT | 223,000 | 200,700 | 101,175 |
| Outstanding amounts | - | - | - |
| Remuneration | 127,748 | 94,647 | 33,802 |
| Overview management remuneration 2022 | |||
| Name | Audrey Gaughran | Irene Keizer | |
| Title | Executive Director | Programme Director | |
| Contract | Employment Contract | Employment Contract | |
| Start and end date performance | January 1st - December 31st 2022 | January 1st - December 31st 2022 | |
| No. of months performed 2022 | 12 | 12 | |
| FTE | 1.0 | 0.9 | |
| Remuneration | |||
| Remuneration plus taxable expenses | 115,954 | 81,706 | |
| Remuneration payable in the future | - | - | |
| Subtotal | 115,954 | 81,706 | |
| Individual remuneration maximum WNT | 216,000 | 194,400 | |
| Outstanding amounts | - | - | |
| Remuneration | 115,954 | 81,706 |
Explanation of differences between realisation and budget 2023
The main difference between realisation and budget 2023 is related to the execution of more project activities than were budgeted for in 2023. This is due to additional income, as well as frontloading certain partner costs for contracts that continue to run in 2024.
Costs for personnel were slightly lower than budgeted because not all additional staff budgeted for started at the same time they had been put into the budget. Next to that, we had budgeted for external support in projects, but these costs have been presented under direct project costs.
Overall, this led to a decrease in our reserves of EUR 24,275.
Other information
Subsequent events
There are no subsequent events, which have a material effect on the situation as per December 31st, 2023.
Appropriation of result 2023
The result after taxation 2023 is EUR 24,275 negative (2022: EUR 1,238,572 positive) which is charged to the continuity reserve. The Board of SOMO has decided to withdraw EUR 290,001 from the designated reserve organisational strengthening and add this amount to the continuity reserve. As a result, the continuity reserve increased with EUR 265,726.
Independent auditor’s report
About SOMO
The Centre for Research on Multinational Corporations (SOMO) investigates the impacts and enablers of unjustified corporate power. Independent, factual, and critical, we have a clear goal – a fair and sustainable world in which public interests outweigh corporate interests.
Since our establishment in 1973, we have been dedicated to reshaping the economic framework by restraining corporate power and championing social equity.
Headquartered in Amsterdam, we work with hundreds of organisations worldwide, acting as a knowledge, research and communications hub.
SOMO’s Vision and Mission
We envision a global economic, political, and legal system that is equitable, democratic, transparent, and environmentally sustainable.
Organisation
The outsized and harmful power of multinational companies and the structures that enable them to stand in the way. A shift in power balance is urgently needed. To address this, SOMO investigates multinationals: we expose their impact, their structures, and the systems they operate in. We develop alternatives and carry out advocacy work.
We do that as part of a civil society movement in deep collaborations and alliances with partners all over the world, always seeing our role as part of an ecosystem of stakeholders. We deliver the knowledge that fuels far-reaching change.
Statutory bodies
