(Compliance Week, Boston, 18 February 2020) Export Development Canada (EDC) announced it has completed its independent review of Bombardier’s compliance policies and procedures, concluding there is progress in its ethics and compliance program. EDC initiated the review of Bombardier in 2019...
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(Reuters, Paris, 3 February 2020) Fallout from the Airbus bribery scandal reverberated around the world on Monday as the head of one of its top buyers temporarily stood down and investigations were launched in countries aggrieved at being dragged into the increasingly political row. Prosecution...
more(Reuters, Paris, 30 January 2020) French public investment bank Bpifrance has raised several billion euros from private and sovereign investors for a new fund that can be used to fend off activist investors targeting French companies. The new fund would give extra financial firepower to...
more(Space Daily / AFP, Paris, 30 January 2020) Rich nations are funnelling cash through government-backed financial institutions to provide $30 billion to fossil fuel projects each year that "run counter to the Paris Agreement", a new analysis showed Thursday. The export credit agencies (ECAs) of...
more(350.org, New York, 24 February 2020) As thousands across Canada take to the streets in solidarity with indigenous Wet’suwet’en land defenders and hereditary chiefs, Export Development Canada (EDC) is considering handing over millions of dollars in public money to the very pipeline project that...
more(EurasiaNet, New York, 14 January 2020) Turkmenistan's state media reported that the president had signed a decree authorizing the State Bank for Foreign Economic Affairs to conclude a loan with the Saudi Development Fund for the Turkmenistan-Afghanistan-Pakistan-India, or TAPI, pipeline....
more(The Nation, Lagos, 20 January 2020) The Nigeria Liquefied Natural Gas Limited (NLNG) has appointed one of Japan’s leading banks and the core unit of Sumitomo Mitsui Financial Group – Sumitomo Mitsui Banking Corporation (SMBC) and one of Nigeria’s leading banks – Guaranty Trust Bank Plc, as...
more(ProShare, Lagos, 5 January 2020) According to the Islamic Financial Industry Stability Report, the current global size of the market is $2.19trn, which attests to a remarkable growth post-2008 financial crisis. Malaysia is currently the leading hub for Islamic Finance globally. At the end of...
more(World Economic Forum, Geneva, 3 January 2020) To continue financing fossil fuel expansion is today’s equivalent of betting the bank - and the global economy - on subprime mortgage-backed securities over a decade ago; it is fuelling a crisis that, even if it generates short-term profit, will...
more(Reuters, London, 28 January 2020) Airbus faces a record $4 billion fine and lower 2019 profits after unveiling a preliminary deal with French, British and U.S. authorities following a crippling three-year probe into allegations of bribery and corruption over jetliner sales. The European...
more(New Kerala, New Delhi, 5 January 2020) After unearthing firms that made fake export credit claims, India's Department of Revenue has asked the Directorate General of Foreign Trade (DGFT) to seek regular compliance and verification reports from regulators. India refunds Integrated Goods and...
moreTranslation of the original piece in Dutch found at the above link.
Opinion | Daniëlle Hirsch is director of Both ENDS
This week it came to light in the Dutch newspapers FD...
more(Guardian, Luanda, 20 January 2020) Until the summer of 2013, Areia Branca, a fishing village just outside Luanda, the capital of Angola, was home to a thriving fishing community of 3,000 families. Now there is no trace of their houses, only sand, a pile of gravel, egrets, a bulldozer and a...
more(Energy Live News, London, 24 January 2020) UKEF is financing fossil fuel projects overseas that are estimated to emit around 69 million tonnes of greenhouse gases every year, according to a new investigation by BBC Newsnight and Greenpeace. Prime Minister Boris Johnson recently announced the...
more(iPolitics, Ottawa, 22 January 2020) A report from Public Accounts of Canada for the 2018-19 fiscal year contains a line item for $196,010,248 that was written off from Export Development Canada’s (EDC) Canada Account, which offers financing for higher-risk projects and sales that the...
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