(Oil Change International, Washington, 30 November 2022) Despite pledging to stop international financing for fossil fuel projects by the end of 2022, new analysis shows that the Italian Government is continuing to actively consider financing for major international fossil fuel projects. Taken...
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2022/11/30
Country: Italy
ECAs: SACE S.p.A.
Issue: Climate Change, Oil, Gas and Mining
Member: Oil Change International, Re:Common
2022/11/30
Country: United Arab Emirates (UAE)
(National News, Abu Dhabi, 14 November 2022) Etihad Credit Insurance, the UAE's export credit agency, issued 7,936 revolving credit guarantees worth Dh16.6 billion ($4.5bn) in the first nine months of the year to help boost the country’s non-oil foreign trade. ECI-issued credit guarantees from...
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2022/11/30
Country: USA
Issue: Nuclear
(World Nuclear News, London, 9 November 2022) The Export-Import Bank (Exim) - the USA's official export credit agency - has issued two Letters of Interest for the financing of US-sourced pre-project technical services at the Cernavoda 3 and 4 nuclear power project in Romania. According to...
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2022/11/30
Issue: BRIC countries
(Kigali Today Press, Kigali, 9 November 2022) At the 2022 Annual Meeting of the Berne Union in Rwanda, the African continent looked to recover from the effects of the Covid-19 pandemic and the Russia-Ukraine conflict. Removing barriers that affect cross-border trade and ensuring access to...
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2022/11/30
Issue: Oil, Gas and Mining
(Zawya, Dubai, 7 November 2022) Kuwait is planning to spend 13.3 billion Kuwaiti dinars ($44 billion) on oil production, exploration and other projects until 2025, a newspaper in the OPEC producer reported on Monday. The investments are part of a 5-year plan approved in 2021 and envisages total...
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2022/11/30
Country: Canada, France, Germany, Italy, Japan, United Kingdom, USA
ECAs: Bpifrance, Euler Hermes Deutschland AG, Export Development Canada, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A., UK Export Finance (UKEF)
Issue: Common Approaches, OECD
(UK Government, Toronto, 3 November 2022) The leaders of the official export credit agencies from the G7 nations – Canada, France, Germany, Italy, Japan, United Kingdom and the United States of America – were hosted by Export Development Canada in Toronto, Canada to discuss a number of pressing...
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2022/11/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Transparency
(Global Trade Review, London, 2 November 2022) The US Export-Import Bank (US Exim) has become the latest export finance institution to be labelled as unaligned with the Paris Agreement on combatting climate change, despite overall emissions from the projects it backs falling in recent years. US...
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2022/11/30
Country: Australia
ECAs: Export Finance and Insurance Corporation
Issue: Climate Change, Oil, Gas and Mining
Member: Oil Change International
(Yahoo News, Sydney, 1 November 2022) Australia is being urged to change course and end taxpayer-funded investment in fossil fuel projects. Ahead of climate talks in Cairo, campaigners are calling for the Albanese government to join a group of countries that last year pledged to end...
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2022/11/30
Country: Korea
ECAs: Export Import Bank of Korea
Issue: Climate Change, Renewables
(Korea Times, Seoul, 29 November 2022) The government is aiming to make Korea-produced batteries account for at least 40 percent of global market share by 2030, as assisted by the establishment of an intergovernmental alliance to secure key battery...
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2022/11/30
Issue: Climate Change, End Coal Financing, OECD, Oil, Gas and Mining, Renewables
Member: Bank Track, Both ENDS, Friends of the Earth Japan, Friends of the Earth USA, Jubilee Australia, Les Amis de la Terre, Oil Change International, Re:Common, urgewald
(Price of Oil, Washington, November 2022) This document signed by 54 international civil society organizations outlines how the OECD Arrangement on Officially Supported Export Credits can align with the Paris Agreement warming target of 1.5°C by placing restrictions on export support for oil...
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2022/11/30
Issue: Climate Change, Debt, Renewables, Transparency
(Atlantic Council, Washington, 8 November 2022) It is abundantly clear that achieving net-zero carbon emissions by mid-century is necessary to avoid the worst climate outcomes. However, the path to decarbonizing the energy sector is not “one-size-fits-all” between developed and developing...
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2022/11/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Debt
(Reuters, London, 8 November 2022) Britain plans to offer new loans to support countries most vulnerable to the effects of climate change, including the option to defer debt repayments in the event of catastrophes, the finance ministry said on Tuesday. The country's export credit agency, UK...
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2022/11/29
Country: Canada, China, France, Germany, Japan, Korea
(The Saxon, Salisbury, ? November 2022) Canada continues to heavily subsidize fossil fuels despite its international commitments, according to a report by Oil Change International. The nonprofit estimates that Canada has, on average, given up to US$8.5 billion annually to projects related to...
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2022/11/29
Country: Australia, Canada, France, Germany, Italy, Netherlands, United Kingdom, USA
ECAs: Atradius, Bpifrance, Euler Hermes Deutschland AG, Export Development Canada, Export-Import Bank of the United States, SACE S.p.A., UK Export Finance (UKEF)
Issue: Climate Change, Common Approaches, End Coal Financing, European Union, OECD, Oil, Gas and Mining, Transparency
Member: Friends of the Earth USA, Oil Change International
(Financial Management Magazine, Durham, 4 November 2022) As noted in our October What's New, ten European countries had agreed to spell out this year how they will limit export finance support for overseas fossil fuel projects. But they shelved...
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2022/11/29
Issue: Climate Change, End Coal Financing, G20, OECD, Oil, Gas and Mining
Member: Friends of the Earth USA, Oil Change International
(Oil Change International, Washington, 1 November 2022) OCI's new report “At a Crossroads: Assessing G20 and MDB international energy finance ahead of stop funding fossils pledge deadline” looks at G20 country and MDB traceable international public finance for fossil fuels from 2019-2021 and...
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