(Construction and Civil Engineering News, Nairobi, 2 March 2021) More than 260 organisations have urged banks not to finance the $3.5 billion project, saying the project could lead to the loss of community land and livelihoods, environmental destruction and surging carbon emissions. Nearly a...
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2021/03/29
Country: China, France, Japan, South Africa, United Kingdom
Issue: Climate Change, Human Rights, Oil, Gas and Mining, Transparency
2021/03/29
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Transparency
Member: Friends of the Earth USA
(Oil Change International, Washington, 18 MArch 2021) In a newly released letter, nearly 450 organizations called on the Biden Administration to immediately end all U.S. public financing...
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2021/02/28
Issue: Climate Change, End Coal Financing, European Union, G20, OECD, Oil, Gas and Mining
Member: urgewald
(Urgewald & Reclaim Finance, Berlin, 24 February 2021) urgewald, Reclaim Finance, Rainforest Action Network, 350.org Japan and 25 further NGO partners have published groundbreaking research on the financiers and investors behind the global coal industry. It was found that in January 2021, 4...
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2021/02/28
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(The Telegraph, London, 6 February 2021) The Government promised last year to end taxpayer support for fossil fuel projects overseas. The UK is poised to back a major Brazilian offshore oil project that will contribute the same emissions as 800,000 cars annually, despite its promise to end...
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2021/02/28
Country: China
ECAs: EXIM Bank China
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Transparency
(Global Development Policy Center, Boston, 12 February 2021) In 2020, China’s two development banks with global operations — the China Development Bank (CDB) and the Export-Import Bank of China (CHEXIM) — recorded $4.6 billion of overseas energy sector finance. This represents a decrease of 43...
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2021/02/28
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Transparency
Member: Friends of the Earth USA
(Reuters, Barcelona, 27 January 2021) The United States will produce a plan to end international financing for fossil fuel projects, its special climate envoy John Kerry said Wednesday, as senior British and U.N. officials urged donor nations to meet a flagship climate finance promise. Speaking...
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2021/01/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, Oil, Gas and Mining
(Global Trade Review, London, 13 January 2021) The Export-Import Bank of the United States has signed off on a new supply chain finance loan guarantee that marks its first support of a domestic liquified natural gas (LNG) exporter. As part of the deal, US Exim will provide a 90% guarantee to...
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2021/01/30
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, End Coal Financing, Oil, Gas and Mining, Renewables
Member: Above Ground
(Above Ground, Ottawa, 13 January 2021) Between 2016 and 2018, Canada provided more public finance for fossil fuels than any G20 country other than China, with Export Development Canada (EDC) providing on average $13.8 billion in support to oil and gas companies each year. Last month more than...
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2020/12/30
Country: Italy, Japan, Korea, USA
ECAs: Export Import Bank of Korea, Export-Import Bank of the United States, Japan Bank for International Cooperation, SACE S.p.A.
Issue: Climate Change, Corruption, Debt, Human Rights, Oil, Gas and Mining
(Korea Times, Seoul, 14 December 2020) The Export-Import Bank of Korea (Eximbank) said Monday it will provide $500 million (545 billion won) in financial support for a major integrated liquefied natural gas (LNG) project in Mozambique. The project financing by the state-run lender is aimed at...
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2020/12/29
Issue: Climate Change, Oil, Gas and Mining, Renewables
(Daily Monitor, Kampala, 30 November 2020) In the wake of Covid-19, there is need for governments to ensure a just recovery and transition to low-carbon energy systems for economic and social recovery. Clearly, the government continues to fail Ugandans in-terms of current fossil fuels...
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2020/12/29
Country: United Kingdom
ECAs: COFACE, Euler Hermes Deutschland AG, SACE S.p.A., UK Export Finance (UKEF)
Issue: Climate Change, Oil, Gas and Mining
(Sydney Morning Herald, London, 12 December 2020) British taxpayers will stop subsidising overseas fossil fuel projects under a pledge by Prime Minister Boris Johnson which opens a new front in the push for more urgent international action on climate change. Johnson will announce the "world-...
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2020/11/30
ECAs: COFACE
Issue: Climate Change, Oil, Gas and Mining
(AFP, Paris 15 November 2020) Energy firms are undertaking financially risky natural gas extraction projects from the Arctic to Africa made feasible by government-backed loans and guarantees, jeopardising efforts to curb global warming, experts say. As pressure from the public and investors to...
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2020/10/28
Country: South Africa
Issue: Climate Change, Human Rights, Oil, Gas and Mining
(New Frame, Johannesburg, 20 October 2020) Do transnational fossil fuel corporations promote defence spending over social investment? A long read about a complex situation where export credit agencies have supported hugh MNC oil and gas developments.
2020/10/28
Country: France, Italy, Korea
ECAs: Export Import Bank of Korea, Export-Import Bank of the United States, SACE S.p.A.
Issue: Climate Change, Oil, Gas and Mining
(Energy Intelligence Finance, New York, 30 September 2020) French TNC Total's CEO Patrick Pouyanne has emphasized that Africa will be at the "heart" of the company's long-term energy transition plans. Africa has long been a rich source of cash flow for Total (...
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2020/10/28
Issue: Climate Change, End Coal Financing, European Union, OECD, Oil, Gas and Mining, Renewables
(Christian Aid, London, 20 October 2020) This new report warns that post-Covid stimulus packages are in danger of widening global inequality and pushing poorer countries to turn to fossil fuels, which would threaten the success of the UK’s COP26 climate summit. The world stands at a crucial...
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