G7 finance ministers and central bank heads met last week to discuss expanding the private sector’s role in climate finance before COP26 in November. It follows a damning report by NGOs that revealed banks have provided US$3.8tn to fossil fuels since the signing of the Paris Agreement five years ago. The meeting, held on April…| Global Trade Review (GTR)
UK government officials have announced an end to support for overseas fossil fuel projects. The country has come under fire in recent years for its financial backing of fossil fuel exports through UK Export Finance (UKEF), the state-owned export credit agency (ECA). As indicated in a statement by the government, the new policy will see…| Global Trade Review (GTR)
A commitment to cut fossil fuel funding for overseas projects from the new Joe Biden administration looks set to have a major impact on the activities of the Export-Import Bank of the United States (US Exim). But while climate activists are welcoming the move, there are suggestions that the bank could continue supporting oil and…| Global Trade Review (GTR)
The US Export-Import Bank (US Exim) has been reauthorised for seven years after legislation was signed by US President Donald Trump at the end of 2019. According to US Exim board member Judith Pryor, speaking exclusively to GTR, the new legislation is a “big achievement” and will enable the bank to better support its exporters…| Global Trade Review (GTR)
Sweden is carving out sustainable policies to ensure a greener nation and trading system. Nevertheless, the country and its export credit agency EKN face challenges in incentivising the buyers of Swedish goods, such as gas turbines, to use greener fuels to power them, writes Maddy White. In 2017, the Swedish government legislated a net…| Global Trade Review (GTR)
The European Commission (EC) has said it is mulling the launch of a new EU export credit facility as part of broader plans to help domestic exporters take on global competitors. The EC broached the idea for the new facility in a review into the bloc’s trade strategy in the coming years, published in February, ...| Global Trade Review (GTR)