(Price of Oil, Washington, 8 November 2023) This week in Paris, some of the world’s wealthiest countries met at the Organisation for Economic Co-operation & Development (OECD) headquarters to discuss how Export Credit Agencies (ECAs) – the world’s largest public financiers for fossil fuels...
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2023/11/29
Country: Canada, United Kingdom
ECAs: Export Development Canada, UK Export Finance (UKEF)
Issue: Climate Change, European Union, Oil, Gas and Mining
Member: Oil Change International
2023/11/29
Country: Saudi Arabia
Issue: Climate Change, Debt, Oil, Gas and Mining
(Foreign Policy, Washington, 15 November 2023) Riyadh hosted African leaders last Friday at the first Saudi-Africa summit on fostering trade ties. Among other measures, Saudi Crown Prince Mohammed bin Salman proposed $10 billion to finance and insure Saudi exports through 2030 and an additional...
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2023/11/29
Country: Argentina, Netherlands
Issue: Climate Change, Oil, Gas and Mining, Renewables, Transparency
Member: Both ENDS
(Global Trade Review, London, 15 November 2023) Oil supermajor ExxonMobil has unveiled plans to become a “leading producer” of lithium ahead of an expected leap in demand for battery metals – but for pure commodity traders, big moves remain a more distant prospect. Export credit agencies (ECAs...
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2023/11/29
Issue: Climate Change, Oil, Gas and Mining
(Climate Change News, Broadstairs UK, 3 November 2023) At Cop26 in Glasgow, hundreds of governments and private institutions joined forces in a series of pledges promising ambitious goals on methane reduction, forest protection and the shift of finance away from fossil fuels. End new direct...
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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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2023/10/31
Issue: Climate Change, OECD, Oil, Gas and Mining
Member: Oil Change International
(Price of Oil, Washington, 30 October 2023) As Organisation for Economic Co-operation and Development (OECD) delegates prepare to meet in Paris from November 6-10, over 250 civil society organizations (CSOs) from 30 countries published an open letter calling on negotiators to support an end to...
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2023/10/30
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Renewables, Transparency
The climate crisis can't be solved if export credit agencies continue to support fossil fuels. We, a group of concerned civil society organizations, call on governments to immediately end all export credit and other public support for fossil fuels.
2023/10/30
Issue: Climate Change, Oil, Gas and Mining
(Business Wire, San Francisco, 9 October 2023) Ras Laffan Petrochemicals, a joint venture company owned 30% by Chevron Phillips Chemical and 70% by QatarEnergy, today announced that it has secured $4.4 billion to finance an integrated polymers facility to be located in Ras Laffan Industrial...
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2023/10/29
Issue: Climate Change, Oil, Gas and Mining
(Global Trade Review, London, 4 October 2023) The African Export-Import Bank has agreed a US$300mn facility with Trident OGX Congo to bump up crude oil production in the Republic of the Congo. Other export credit agencies (ECAs) around the world have come under fire for continuing to finance...
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2023/10/29
Issue: Climate Change, European Union, OECD, Oil, Gas and Mining
Member: Oil Change International
(Financial Times, Brussels, 29 October 2023) The UK and EU will push the world’s richest countries to end subsidies for foreign oil and gas operations and coal mining at a closed-door OECD meeting next month, according to people familiar with the matter. The proposal to cut off the biggest...
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2023/10/29
Country: China
ECAs: Sinosure
Issue: Climate Change, Oil, Gas and Mining
(Argus Media, Cape Town, 3 October 2023) Chinese export credit agency Sinosure is slated to complete talks with Uganda and oil companies TotalEnergies and CNOOC this month to provide $3bn for the country's crude export pipeline EACOP, after western financiers pulled out due to environmental...
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2023/10/29
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining
(Oxfam America, Boston, 16 October 2023) This 51 page study assesses the alignment of the United States Export-Import Bank (EXIM) — the official export credit agency (ECA) of the US — with the country’s climate and development policy objectives derived from relevant Executive Orders (EOs), acts...
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2023/09/30
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Oil, Gas and Mining
Member: Above Ground
(Above Ground, Ottawa, 4 August 2023) Ottawa has taken a major step forward towards ending another significant component of its fossil fuel support. It announced last week a policy that makes Canada the first G20 country to publish a plan for delivering on the group’s 2009 commitment to phase...
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2023/09/29
Country: China
ECAs: Sinosure
Issue: Climate Change, Oil, Gas and Mining
(Reuters, Kampala, 25 September 2023) Uganda is in advanced talks with Chinese export credit agency SINOSURE to provide credit for its crude oil pipeline after pressure from environmentalists forced some Western banks to recoil from the project, a top official said on Monday. The 1,445-...
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2023/09/29
ECAs: Euler Hermes Deutschland AG, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A., Swiss Export Risk Insurance
Issue: Climate Change, Oil, Gas and Mining
(Climate Change News, Broadstairs UK, 7 September 2023) The US, Germany and Italy have been accused of backsliding on a Glasgow promise to end public subsidies to fossil fuel projects overseas. They are among rich countries providing billions of dollars of public subsidies to fossil fuel...
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