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)
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)
Export credit agencies (ECAs) in the world’s largest economies are still pumping billions of dollars more annually into fossil fuels than clean energy projects, fresh data shows, spurring calls for reform within the OECD Arrangement. ECAs in the G20 group of nations provided US$96bn towards fossil fuel projects between 2020 and 2022, finds a report…| Global Trade Review (GTR)
Export credit agencies (ECAs) in the world’s biggest economies more than halved support for coal financing between 2018 and 2020 but support for the gas industry has jumped by almost US$10bn, according to new research. Oil Change International and Friends of the Earth US, two environmental campaign groups, released figures on October 28 showing that…| 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)
The EU has tabled a comprehensive proposal to members of the OECD Arrangement on export credits that would halt billions of dollars in oil and gas financing annually, yet climate groups warn of likely opposition from the US and Asia. The EU proposal, submitted at a meeting of OECD Arrangement on Officially Supported Export Credits…| 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)