(Jubilee Australia, NSW, 18 July 2023) Jubilee Australia, a human rights and environmental organisation, has filed legal proceedings this morning (18th July) in the Federal Court of Australia against federal government agencies that subsidise new fossil fuel projects but don’t disclose the full...
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2023/08/31
Country: Australia
ECAs: Export Finance & Insurance Corporation Australia
Issue: Climate Change, Oil, Gas and Mining, Renewables, Transparency
Member: Jubilee Australia
2023/08/31
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining, Transparency
(Common Dreams, Portland, 29 August 2023) More than two dozen advocacy groups from Papua New Guinea, the Asia Pacific region, and the United States on Tuesday urged the U.S. export credit agency to reject a liquefied natural gas project that they warned “presents significant financial risks and...
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2023/08/31
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining, Transparency
(Al Jazeera, Washington, 30 July 2023) While the president's rhetoric aligns with global climate promises, his administration has approved massive fossil fuel projects. Ahead of its Climate...
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2023/08/31
ECAs: Euler Hermes Deutschland AG
Issue: Climate Change, Oil, Gas and Mining, Renewables, Transparency
(Energy Portal EU, London, 12 August 2023) The transition to clean energy is sparking intense debates as the climate crisis worsens. While cities, universities, and pension funds across the U.S. have divested from fossil fuels, the divestment movement has faced obstacles. In California, a bill...
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2023/08/31
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining, Renewables, Transparency
(Sullivan&Cromwell LLP, New York, 10 August 2023) On July 14, the OECD published the revised text of the Arrangement on Officially Supported Export Credits (the “Arrangement”). This forms part of the landmark modernisation of the Arrangement, as previewed in...
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2023/07/30
Country: Canada, Japan, Korea
ECAs: Export Development Canada, Export Import Bank of Korea, Japan Bank for International Cooperation
Issue: Renewables, Transparency
(Pulse News, Soeul, 24 July 2023) The Export-Import Bank of Korea (Korea Eximbank) is gearing up to upgrade its traditional model of financial support for promoting exports of Korean companies to a new level with the introduction of Export Credit Agency (ECA) Version 2.0. The management...
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2023/07/30
Country: China
ECAs: Sinosure
Issue: BRIC countries, Debt, Oil, Gas and Mining, Transparency
(ZAWYA, Dubai, 11 July 2023) Cedar Rose, a Cyprus and Dubai based corporate data, credit, risk and compliance firm, has reaffirmed its longstanding partnership covering over 25 years of relationship with Sinosure, a prominent Chinese state-owned enterprise responsible for export credit...
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2023/07/29
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining, Transparency
Member: Oil Change International
(Price of Oil, Washington, 18 July 2023) Last Friday, the Export-Import Bank of the United States (EXIM) — the official export credit agency of the U.S.— insured USD 400 million in revolving credit facilities for global commodities trader Trafigura. The newly approved transaction will allow...
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2023/07/29
Country: Germany
ECAs: Euler Hermes Deutschland AG
Issue: Climate Change, Transparency
Member: Oil Change International
(Reuters, Berlin, 25 July 2023) Environmental groups on Tuesday criticized Germany's draft policy on export credit guarantees as too vague and soft on financing for natural gas projects, as Berlin attempts a balancing act between climate protection and energy security. Germany supports exports...
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2023/05/30
Issue: Climate Change, End Coal Financing, OECD, Oil, Gas and Mining, Renewables, Transparency
(Reinsurance News, Brighton, 15 May 2023) Berne Union, the global association for the export credit and investment insurance industry, has reported that its market showed “strong growth” across business lines in 2022 and a fall in claims paid overall. Highlights from the year’s data show that...
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2023/05/30
Country: Canada
Issue: Oil, Gas and Mining, Renewables, Transparency
(Environmental Defence, Ottawa, 15 April 2023) In a letter to Prime Minister Trudeau, a broad range of Canadian organizations note that it has been over a decade since Canada first committed to ending inefficient fossil fuel subsidies. Instead of fulfilling this promise, the Government of...
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2023/05/30
Issue: Climate Change, G7, Oil, Gas and Mining, Transparency
(Price of Oil, Hiroshima, 20 May 2023) G7 Leaders in Hiroshima concluded that there is “an important role” for “increased deliveries of LNG” and that “publicly supported gas investments can be appropriate”, jeopardizing the 1.5ºC warming limit and directly contradicting last year’s G7...
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2023/04/30
Country: China
ECAs: Sinosure
Issue: Debt, Oil, Gas and Mining, Transparency
(Guardian.NG, Abuja, 19 April 2023) Financiers of the Abuja-Kaduna-Kano pipeline have pulled out of the project, citing an alleged 570% inflated contract sum, far above global threshold. Infrastructure and Commercial Bank of China (ICBC), Infrastructure Bank of China and China Export Credit...
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2023/04/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Corruption, Oil, Gas and Mining, Transparency
Member: Friends of the Earth USA
(Friends of the Earth, Washington, 13 April 2023) Friends of the Earth has filed an open records request of the Alaska...
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2023/03/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Debt, European Union, Transparency
(Global Echo, Washington, 8 March 2023) In November 2021 the U.S. provided $600 million in an export credit agreement to help Lithuania withstand pressure from China and joined the EU's WTO lawsuit in support of Vilnius. Days after the establishment in 2021 of the “Taipei Representative Office...
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