Members of the Net Zero Banking Alliance (NZBA) have voted to weaken key climate commitments, including removing mandatory targets and a requirement to support the transition towards a net-zero economy. The UN-backed NZBA aims to bring together banks committed to “aligning their lending, investment and capital markets activities with net-zero greenhouse gas emissions by 2050”,…| Global Trade Review (GTR)
The Export-Import Bank of the United States (US Exim) has amended its rulebook to allow support for coal-fired power projects, offering a boost to US President Donald Trump’s energy policy but drawing the ire of climate campaigners. At a meeting on May 1, US Exim’s board unanimously voted to amend its environmental procedures and guidelines…| Global Trade Review (GTR)
Climate campaigners are urging the White House to block the Export-Import Bank of the United States (US Exim) from supporting fossil fuels on “national security” grounds as the agency weighs a US$743mn petrochemical project in Malaysia. In recent months, US Exim has faced growing scrutiny over its ongoing backing for fossil fuels with two members ...| Global Trade Review (GTR)
Financial backers are continuing to assess whether they should reaffirm their support for a multi-billion-dollar LNG project in Mozambique as operator Total looks to restart work. The project was suspended in 2021 after insurgents known as the Islamic State Mozambique attacked Palma, a town in the northern province of Cabo Delgado. Total declared force majeure ...| Global Trade Review (GTR)
Export credit agencies (ECAs) are increasingly channelling support for energy deals to high-income countries as they shift to renewables, a study has found, further shrinking poorer nations’ access to energy finance. Wealthy nations have driven a sharp rise in export credit support for renewable energy technology in recent years, but a study published today in ...| Global Trade Review (GTR)
The Korean government has vowed to increase export financing to record levels this year in a bid to soften the potential impact of US President Donald Trump’s trade policies, especially on its key semiconductor and battery industries.| Global Trade Review (GTR)
