(Above Ground, Ottawa, 4 August 2023) Ottawa has taken a major step forward towards ending another significant component of its fossil fuel support. It announced last week a policy that makes Canada the first G20 country to publish a plan for delivering on the group’s 2009 commitment to phase...
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(Bowen Island Undercurrent, BC, 2 August 2023) The federal government is trying to reclaim nearly $350 million in insurance paid to Suncor Energy Inc. by Export Development Canada in the wake of political unrest in Libya. The oil giant claimed $300 million in risk mitigation payments for losses...
more(AUManufacturing, No Address Provided, 31 July 2023) Arafura Rare Earths pushed ahead with engineering work and construction of its giant Nolans rare earths project in the Northern Territory in the latest quarter despite a softening market for the critical metals. Arafura has received a letter...
more(Railway Gazette, Suttton UK, 24 May 2023) Alstom and Export Development Canada have signed a C$3·5bn three-year sustainable global corporate partnership covering export financing support and insurance in the transport sector. The export credit agency will focus its support on digital systems...
more(UKEF, London, 22 January 2023) Acknowledging the G7 Leaders’ Statement on Support for Ukraine, as heads of the official export credit agency (ECA) schemes of the G7 nations – Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States of America – we wish to express our...
more(Greenpeace, Toronto, 12 December 2022) Canada has joined the growing ranks of nations promising to end international financing of fossil fuels (though there are some worrisome exceptions). The Financial Post immediately warned that without taxpayer subsidies it would be more expensive for...
more(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...
more(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...
more(Oil Change International, Washington, 26 September 2022) the French Government has published a new policy that restricts public finance for fossil fuels from the French export credit agency, BPIFrance. This policy is meant to implement France’s commitment to end international public finance...
more(Bloomberg, Ottawa, 19 July 2022) Canada’s export credit agency is targeting a 15% cut to its financing portfolio for upstream oil and gas production by 2030. The target will include a 3% shift - against a 2020 baseline - in the composition of production to gas from oil, recognizing that the...
more(Globe & Mail, Toronto, 2 May 2022) Export Development Canada has agreed to partly guarantee $1-billion of loans which the Bank of Montreal plans to make to companies in carbon-intensive industries in order to help them lower their emissions, reducing the risks of the bank’s foray into...
more(National Observer, Vancouver, 6 April 2022) Canada’s recently published emissions reduction plan provides a roadmap for how Ottawa plans to hit its 2030 climate targets, but critics say until the financial sector is aligned with climate goals, the government's plans are “derelict.”...
more(Globe & Mail, Toronto, 28 March 2022) Canada’s export credit agency is looking to capitalize on the growing trend for sustainable investing, launching a set of new financial tools aimed at supporting socially oriented businesses and helping large greenhouse gas emitters reduce their carbon...
more(CBC, Winnipeg, 9 March 2022) In December 2020 Export Development Canada — a federal Crown credit corporation — signed a guarantee to back half of a $14-million loan to Winnipeg's 97% Russian owned Buhler Industries to support the company's ongoing operations. The manufacturer of farming...
more(Berne Union, London, 17 March 2022) The group leverages the Berne Union network to connect innovation in export credit with global problem-solving around climate challenges and sustainable development. The ultimate objective of the Climate Working Group is to accelerate climate action in the...
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