(Energy Monitor, London, 17 April 2023) All 38 members of the OECD have pledged to reach net zero, with the US and EU in the middle of hugely significant domestic decarbonisation programmes. Yet export finance remains misaligned with the requirements of net zero, directing seven times more...
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(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...
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, 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...
more(Friends of the Earth US, Washington, 24 October 2022) Friends of the Earth US has produced a 16 page backgrounder on U.S. international energy finance ahead of the COP27 Deadline to Stop Funding Fossils. From 2010 to 2021, the United States’ major trade and development finance institutions,...
more(Reuters, Washington, 10 December 2021) The Biden administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to U.S. diplomatic cables seen...
more(Oil Change Int'l/FOEUSA, Washington, October 2021) This 36 page reprort documents how G20 countries and the multilateral development banks (MDBs) they govern in 2018-2020 provided at least US$63 billion per year in international public finance for oil, gas, and coal projects. This fossil fuel...
more(Politico, Glasgow, 4 November 2021) The United States, the U.K. and some 20 other countries and financial institutions pledged on Thursday to stop public financing for most overseas oil and gas projects by next year, though the agreement included wide latitude for participants to set their own...
more(Oil Change International, Washington, 18 MArch 2021) In a newly released letter, nearly 450 organizations called on the Biden Administration to immediately end all U.S. public financing...
more(Reuters, Barcelona, 27 January 2021) The United States will produce a plan to end international financing for fossil fuel projects, its special climate envoy John Kerry said Wednesday, as senior British and U.N. officials urged donor nations to meet a flagship climate finance promise. Speaking...
more(ECA Watch members, 10 August 2020) This 9 page report finds that while ECA responses to COVID-19 are still quickly evolving, it’s now clear that these institutions are:
- Providing more favorable financing terms;
- Expanding the geographic scope of the projects and companies...
(FOE USA, Washington, 27 September 2019) The U.S. Export-Import Bank’s (EXIM) Board of Directors voted late yesterday to provide $5 billion in financing for a liquid natural gas (LNG) project in Mozambique, making it the largest federal subsidy for a fossil fuel project in the bank’s history....
more(Friends of the Earth USA, Washington, 13 November 2018) In order to avoid the worst impacts of climate change, no new fossil fuel power plants should have been built after 2017. Despite this, little-known government agencies called export credit agencies (ECAs) are still providing many...
more(New York Times, Hong Kong, 13 February 2018) A Vietnamese company is no longer seeking American financial support to build a coal-fired power plant in Vietnam, bringing to an abrupt end a closely watched test of whether Washington would back international projects that could potentially...
more(New York Times, LONG PHU, Vietnam, 26 January 2018) With help from a Kremlin-connected Russian bank, Vietnam is building a coal-fired power plant called Long Phu 1 that will produce an estimated 5.4 million tons of carbon dioxide a year, generating enough electricity to power millions of homes...
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