(Reuters, Dubai, 12 February 2024) Italy’s export credit agency SACE plans to back $1.6 billion in loans to Saudi Arabia over the next 12 to 18 months, the agency’s chief told Reuters, potentially boosting the country's search for outside investment at a time of weak oil prices. Saudi Arabia...
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(New York Times, New York, 5 February 2024) A federal bank that finances projects overseas is set to vote on Thursday on whether to use taxpayer dollars to help drill oil and gas wells in Bahrain, a contentious decision that prompted two of the bank’s climate advisers to resign, according to...
more(Guardian, London, 14 February 2024) Oil Change International and Friends of the Earth US say the US president must follow his move to restrain fossil fuel expansion at home with similar measures to curb it around the world. We back Bill McKibben’s call for more of the sort of leadership...
more(Amazon Watch, Oakland, 25 January 2024) In 2023, the Peruvian state-owned oil company, Petroperú, faced one of its worst financial crises, due to its accumulation of up to $6.5 billion in debt for its Talara Refinery Project, which will likely serve as a major driver of oil exploration and...
more(Thomasnet, New York, 29 January 2024) The developer of the world’s first large-scale plant that will manufacture “green” steel has now secured some $7 billion in financing for the project to date, company officials announced. More than 20 lenders signed onto the debt financing, including the...
more(JACSES, Tokyo, 30 January 2024) The Japan Center for a Sustainable Environment and Society notes that two gas-fired combined cycle power projects in Mexico are now under consideration for financing by the Japan Bank for International Cooperation (JBIC). One is in San Luis Potosi and the other...
more(Friends of the Earth, Washington, 23 January 2024) Civil society and environmental groups today requested that the US Export-Import Bank withdraw funding from the Trafigura Group, a major global commodity trader. In December,...
more(New York Times, New York, 26 January 2024) Even as the Biden administration, under pressure from environmentalists, hits pause on its approval of a major natural gas export terminal in the...
more(New Republic, New York, 28 December 2023) President Joe Biden pledged to stop financing such projects overseas, and yet the U.S. Export-Import Bank continues to do so. While much of the country was occupied last week with holiday travel and time with family, a little-known government agency...
more(Zawya, London, 1 December 2023) Italian export credit agency SACE unveiled a new ESG [environmental, social, and governance] strategy at COP 28, which will progressively align its business model with the United Nations Sustainable Development Goals (SDGs). The new strategy, unveiled at an...
more(Gulf Times, Doha, 25 December 2023) Qatar’s energy sector saw a quantum leap in October this year when His Highness the Amir Sheikh Tamim bin Hamad al-Thani laid the foundation stone of the North Field expansion project, which will raise the country’s LNG production capacity from the current...
more(LNG Prime, Sarajevo, 15 December 2023) Geneva-based trader Gunvor has clos
ed a 400 million euro ($437 million) loan, backed by the Italy's SACE, to secure supplies of natural gas and LNG for Italian industry. The five-year term loan is guaranteed by SACE, the Italian export credit agency...
(ProPakistani, Islamabad, 14 December 2023) The Private Power and Infrastructure Board (PPIB) announced the $2 billion financial close of the Thar coal-fired power project, which is currently under Chinese management. The project’s main sponsor is Shanghai Electric Group Corporation, while the...
more(Environmental Defense, Toronto, 4 December 2023) At COP28, Export Development Canada (EDC) joined other export credit agencies to launch the Net-Zero Export Credit Agencies Alliances (NZECA), an alliance of international public finance institutions committed to reaching net-zero greenhouse gas...
more(UNEP, Dubai, 4 December 2023) At COP28 today, 8 leading export credit agencies, in partnership with the University of Oxford, Future of Climate Cooperation, and the UN Environment Programme Finance Initiative (UNEP FI) launched the UN-convened Net-Zero Export Credit Agencies Alliance (NZECA),...
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