(Reuters, London, 7 December 2020) Britain’s government said on Monday it would offer a wider range of loan guarantees to promote exports as part of a drive to boost overseas sales following the country’s departure from the European Union, its biggest foreign market. Lenders will receive a...
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(New York Times, Fairfax, 4 September 2020) In 1971 at the urging of banking lobbyists, the U.S. Export-Import Bank created the Private Export Funding Corporation (PEFCO), a private entity owned by over two dozen banks and a handful of big corporations. It has operated under consecutive 25-year...
more(Prospect, London, 10 September 2020) Boris Johnson has pledged to end Britain's support for global gas and oil projects. But will the government really make good on its promise? Investors across the world are growing increasingly wary of financing fossil fuels—and for good reason. In an era of...
more(Urgewald, Sassenberg, 21 September 2020) In its recently released report on Greening Equity Investments in Financial Institutions the International Finance Corporation (IFC), the private sector arm of the World Bank Group, announced it has adopted Urgewald’s Global...
more(Lexology, London, 25 September 2020) The Equator Principles have been one of the principal frameworks for managing sustainability and ESG risk in projects by financial institutions since 2003. The latest update – known as EP4 – renews the focus on human rights and climate change with effect...
more(Global Trading Magazine, Dallas, 25 September 2020) At the Sept. 9 end of the two-day 2020 G12 Heads of Export Credit Agencies (ECAs) meeting, which EXIM Bank hosted virtually from its Washington, D.C. headquarters, the 12 Heads of ECAs issued its first-ever G12 joint statement. ECAs involved...
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...
(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(TXF News, New York, 16 July 2020) The US administration [and corporate media] has drastically upped the ante in its economic war against China with its actions against Huawei. At the same time, US Exim has been charged to not only promote US exports and jobs but also counter Chinese...
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...
moreClick on the link below for a copy of the 6 page briefing
Click below to download the full text of the 18 page ECA Watch gap analysis.
(ECA-Watch, Amsterdam, 29 June 2020) As part of continued advocacy with the European institutions on Export Credit Agencies (ECAs), European groups are working to enhance the reporting requirements of the EU ECAs under EU...
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,...
more(Global Trade Review, London, 28 May 2020) The International Chamber of Commerce (ICC) has warned that as much as US$2 to 5 trillion of trade credit will be needed to return trade volumes back to 2019 levels in the wake of the Covid-19 crisis in order to enable volumes and demand return to the...
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