(Bloomberg, 17 September 2024) A group of developed nations will make a new push to resolve differences amid fading prospects for a deal to restrict funding of foreign oil and gas projects by their export credit agencies. Restricting export credit agencies is seen as a potentially important...
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2024/09/30
Issue: Climate Change, Common Approaches, End Coal Financing, European Union, OECD, Oil, Gas and Mining, Renewables, Transparency
2024/07/30
Country: Australia, France
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining
(DeSmog, Seattle, 26 June 2024) Campaigners are increasingly taking out lawsuits against the funders of fossil fuels and other climate-harming activities,...
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2024/07/30
Country: China, USA
ECAs: Export-Import Bank of the United States
Issue: Common Approaches, Transparency
(US Congress, Washington, 24 June 2024) The US Congress House Financial Services Subcommittee Chairman on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Blaine Luetkemeyer (MO-03), held a hearing entitled “The Role of the Export-Import (Ex-Im) Bank...
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2024/06/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Common Approaches, European Union, OECD, Renewables, Transparency
(UKEF, London, 25 June 2024) UK Export Finance (UKEF) adopted the Equator Principles (EPs) on 31 March 2016, joining what now comprises 128 other banks and Export Credit Agencies (EP Financial Institutions or EPFIs) in applying this global guidance for environmental, social, and human rights (...
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2024/04/29
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining
(Global Trade Review, London, 10 April 2024) Export credit agencies (ECAs) in the world’s largest economies are still pumping billions of dollars more annually into fossil fuels than clean energy projects, fresh data shows, spurring...
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2024/04/29
Issue: Climate Change, Common Approaches, European Union, Oil, Gas and Mining
Member: Both ENDS, Oil Change International
(Both Ends, Utrecht, 4 April 2024) The EU ECA fossil fuel phase-out tracker sheds light on the concerning lack of harmony between EU Member States' export credit climate policies. The report was updated on April 17th, following new responses by Member States on their respective policies....
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2024/02/27
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Common Approaches, Oil, Gas and Mining
Member: Friends of the Earth USA, Oil Change International
(Guardian, London, 14 February 2024) Oil Change International and Friends of the Earth US say the US president must follow his move to restrain fossil fuel expansion at home with similar measures to curb it around the world. We back Bill McKibben’s call for more of the sort of leadership...
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2023/12/31
Country: Norway
Issue: Climate Change, Common Approaches, Oil, Gas and Mining, Renewables
Member: Oil Change International
(Oil Change International, Washington, 2 December 2023) Norwegian Prime Minister Jonas Gahr Støre announced today that Norway has joined the Clean Energy Transition Partnership (CETP, sometimes called the Glasgow Statement) at the UN COP28 climate summit in Dubai. Boost for CETP which now...
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2023/11/29
Issue: Climate Change, Common Approaches, End Coal Financing, OECD, Oil, Gas and Mining
Member: Oil Change International
(Global Trade Review, London, 15 November 2023) A proposal to end export finance for oil and gas supported by the UK, EU and Canada will remain under discussion at next year’s OECD meetings after being tabled last week during negotiations in Paris. If agreed, the proposal would see a ban on...
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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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2023/05/30
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining, Renewables
(Global Trade Review, London, 24 May 2023) The export credit agencies (ECAs) of OECD countries should take more ambitious action to protect the climate after pouring 77% of their spending into fossil fuel projects between 2018 and 2020, a campaign group has argued. OECD members pumped an annual...
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2023/03/30
Country: Italy
ECAs: SACE S.p.A.
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining
(Earth Org, Hong Kong, 28 March 2023) ) The new policy will allow Italy’s export credit agency SACE to support various fossil fuel projects, including exploration, production, storage, and distribution. Climate experts have strongly criticised the move, saying it would breach international...
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2023/03/29
Country: Italy
ECAs: SACE S.p.A.
Issue: Climate Change, Common Approaches, Oil, Gas and Mining
Member: Re:Common
(Global Trade review, London, 22 March 2023) Italy has walked away from a pledge to end support for international fossil fuel projects by the end of last year, indicating it will continue to provide export credit cover for parts of the oil industry in the short term and delaying a decision to...
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2023/03/29
Issue: Climate Change, Common Approaches, End Coal Financing, European Union, OECD, Oil, Gas and Mining, Renewables, Transparency
(Oil Change International, Washington, 15 March 2023) Promise Breakers, a report released today by Oil Change International, reveals that the Glasgow Statement, a joint commitment forged at the 2021 UN climate summit (COP26...
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2023/03/29
Issue: Climate Change, Common Approaches, Human Rights, OECD, Oil, Gas and Mining, Renewables
Member: Oil Change International
(Global Trade Review, London, 15 March 2023) A meeting of the OECD Arrangement on export credits ended last week without an announcement of a breakthrough on any key planks in its modernisation agenda. The arrangement was created to avoid like-minded countries from undercutting each other on...
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