(Global Trade Review, London, 15 July 2020) The Japanese government has tightened its lending criteria for overseas coal-fired power plants, including that it will not provide financial support for any host country that does not have a decarbonisation policy. However, it will continue...
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(Common Dreams, Portland, 6 July 2020) In an open letter to Emmanuel Macron and Rémy Rioux Common Dreams notes that France is embarking on an important diplomatic effort this November, bringing together 450 global development banks that control $2 trillion in public money. The objective? For...
more(Above Ground, Ottawa, 22 July 2020) Canada’s oil and gas sector could receive billions of dollars in public financial aid as a result of Ottawa’s COVID-19 economic response package. The new sums are in addition to the billions of dollars in routine loans and other supports that the industry...
more(Climate Change News, London, 10 July 2020) A decade after prospectors struck gas off Cabo Delgado, northern Mozambique, a consortium led by Total is signing contracts worth $16 billion to exploit it. One of the biggest investments in Africa, the project to extract, liquefy and export gas...
more(Open Democracy, London, 28 July 2020) After a Danish-funded mine caused serious environmental damage in Armenia, the Danish state has been less than forthcoming on failed due diligence, transparency and compensation. As a result of the Danish-funded mine construction, the Teghut mine caused...
more(Above Ground, Ottawa, 15 June 2020) A recent report from Oil Change International and Friends of the Earth U.S. reveals that...
more(Oil & Gas Republic, Lagos, 1 June 2020) Nigeria LNG Limited (NLNG) has secured $3 billion for the development of its Train 7 project. According to the company, the $3 billion is corporate financing from a group of 31 investors, building investor’s confidence in Nigeria’s oil and gas...
more(Global Witness, London, 12 June 2020) UKEF have been in the spotlight more and more over the last year for their disproportionate support for the fossil fuel industry. Last year, UKEF provided nearly £2 billion in taxpayer support for fossil fuel projects all over the world. Despite dozens of...
more(National Observer, Ottawa, 10 June 2020) International Trade Minister Mary Ng says she expects transparency and accountability from a key federal Crown corporation, after a new report concluded Canada is undermining its own climate goals by allowing EDC to support fossil fuel projects such as...
more(Reuters, Johannesburg/London, 26 June 2020) Britain’s export credit agency UK Export Finance (UKEF) is set to back around $800 million of a $20 billion (£16 billion) liquefied natural gas (LNG) project in Mozambique led by French energy major Total. Campaigners say such projects lock in...
more(ICLG, London, 23 June 2020) A syndicate of company bank lenders and ECAs have enlisted Latham & Watkins to act as legal counsel in refinancing approximately USD 8.3 billion for one of the world’s largest oil and gas projects, in Australia. The development, named the Ichthys liquefied...
more(Reuters, Winnipeg/Toronto, 4 June 2020) Canadian oil producers sideswiped by economic damage from the coronavirus pandemic have received no federal loans from EDC, seven weeks after the first lending program was announced, government and industry officials said on Thursday. The large-employer...
more(Oil Change International, Washington, 22 April 2020) This briefing outlines why continuing to rely on fossil fuels, in particular oil and gas, is not compatible with long-term recovery. Governments now face a choice: fund a just transition away from fossil fuels that protects workers,...
moreEDC is bailing out the fossil fuel industry. Will Canadians be given a full accounting of the costs?
(Above Ground, Ottawa, 4 May 2020) 2020 is a pivotal year for wealthy nations to ramp up their climate action plans, spelling out how they’ll make the deep emissions cuts needed between now and 2030. Instead, states are bolstering the very industries that must be phased out to avert disastrous...
more(Client Earth, London, 12 November 2019) As the European Investment Bank (EIB) Board of Directors prepares to vote on excluding natural gas from its lending policy, lawyers have issued a clear warning: continuing to finance fossil fuels would breach the Bank’s legal duties. [While facing a...
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