(MSN News, London, 12 August 2020) Boris Johnson is poised to sign off new rules barring the UK government’s chief foreign lender from offering financial support to foreign fossil fuel projects. The new policy, which could come as soon as this week, will rule out future loans and financial...
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2020/08/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
2020/08/30
Country: Argentina, USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining
(Global Trade review, London, 12 August 2020) The Export-Import Bank of the United States (US Exim) has penned a US$75mn credit guarantee facility (CGF) with state-backed Argentinian energy company YPF. US Exim will cover a loan from Bank of America as part of the deal, with YPF – the biggest...
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2020/08/29
Issue: Climate Change, Common Approaches, Debt, End Coal Financing, Human Rights, Renewables, Transparency
Member: Both ENDS, Counter Current, Friends of the Earth Japan, Friends of the Earth USA, Les Amis de la Terre
(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...
2020/07/30
Country: Germany
ECAs: Euler Hermes Deutschland AG
Issue: Climate Change
(Zawya, Dubai, 26 July 2020) The proceeds of the loan, which is the first Green ECA loan in Saudi Arabia, are being used to purchase buses from Germany for Saudi Arabia's public transport network. The buses will help reduce the greenhouse gas emissions and air pollution as well as alleviate...
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2020/07/30
Country: Japan
ECAs: Japan Bank for International Cooperation, Nippon Export and Investment Insurance
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Renewables
(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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2020/07/30
Country: Canada, France, United Kingdom
Issue: Climate Change, G20, Oil, Gas and Mining, Transparency
(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...
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2020/07/30
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Oil, Gas and Mining
Member: Above Ground
(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...
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2020/07/29
Country: France, Italy, Japan, Netherlands, South Africa, United Kingdom, USA
ECAs: Atradius, Export-Import Bank of the United States, Japan Bank for International Cooperation, Nippon Export and Investment Insurance, SACE S.p.A., UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(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...
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2020/06/29
Country: Canada, China
ECAs: EXIM Bank China, Export Development Canada, Sinosure
Issue: Climate Change, Oil, Gas and Mining
Member: Above Ground, Friends of the Earth USA
(Above Ground, Ottawa, 15 June 2020) A recent report from Oil Change International and Friends of the Earth U.S. reveals that...
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2020/06/29
ECAs: Export Import Bank of Korea, SACE S.p.A.
Issue: Climate Change, Oil, Gas and Mining
(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...
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2020/06/29
Issue: Climate Change, Renewables
(ECA Watch, Washington, 26 June 2020) COVID-19 is a still-unfolding health crisis affecting every economy, putting the health and livelihoods of billions at risk. Almost every government has developed response packages that attempt to use all the tools at their disposal to keep their economies...
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Briefings & reports from ECA watch members
2020/06/29
Issue: Climate Change, Renewables, Transparency
Click on the link below for a copy of the 6 page briefing
2020/06/29
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Corruption, Oil, Gas and Mining
Member: Global Witness
(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...
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2020/06/29
Country: Australia, Japan
Issue: Climate Change, Debt, Oil, Gas and Mining
(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...
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2020/06/29
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Oil, Gas and Mining
(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...
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