A proposal to end export finance for oil and gas supported by the UK, EU and Canada will remain under discussion at next year’s OECD meetings after being tabled last week during negotiations in Paris. If agreed, the proposal would see a ban on export credits for new oil and gas projects, following the approach…| Global Trade Review (GTR)
The export credit agencies (ECAs) of OECD countries should take more ambitious action to protect the climate after pouring 77% of their spending into fossil fuel projects between 2018 and 2020, a campaign group has argued. OECD members pumped an annual average of US$41bn into fossil fuel exports during the three-year period, totalling almost five…| Global Trade Review (GTR)
Japan has joined fellow G7 governments in vowing to end public fossil fuel finance by the end of 2022, though campaigners warn the actions of these nations’ export credit agencies could mean countries miss the deadline. Following talks in Berlin on May 27, G7 climate, energy and environment ministers issued a communique in which they…| Global Trade Review (GTR)
Italy has walked away from a pledge to end support for international fossil fuel projects by the end of last year, indicating it will continue to provide export credit cover for parts of the oil industry in the short term and delaying a decision to put an end date on its backing for the gas…| Global Trade Review (GTR)
Export credit agencies (ECAs) in the EU have been given until the end of next year to set deadlines for ending support for the fossil fuel sector, as the bloc calls for a ban on export credit support for fossil fuels at the OECD. In a statement released following a meeting of EU finance ministers…| Global Trade Review (GTR)
A landmark deal has been struck by Organisation for Economic Co-operation and Development (OECD) countries to formally ban export credit support for unabated coal-fired power plants, but campaigners are calling for the group to widen the scope of the restrictions. Participants to the OECD Arrangement on Officially Supported Export Credits have announced that an agreement has…| Global Trade Review (GTR)