(Bloomberg, Kampala, 15 August 2017) Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year as the East African country prepares to start oil production by 2020. Companies will explore raising bank debt or loans from export credit...
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(The Actuary, London, 23 August 2017) Some 99.4% of the energy support given to foreign countries between 2010 and 2014 by the government department UK Export finance (UKEF) went towards fossil fuel projects, according to new research. This is done through helping UK firms invest overseas by...
more(BankTrack, Nijmegen, 22 August 2017) BankTrack has taken note of the outrageous allegations in the lawsuit that ETP/ETE has filed against BankTrack, Greenpeace International, Greenpeace Inc., Greenpeace Fund, Inc., Earth First!, and other organizations and individuals that together opposed the...
more(ECA Watch & Both ENDS, Amsterdam, 24 August 2017) In response to a European Greens Parliamentary question, Cecilia Malmström, European Commissioner for Trade, replied...
more(Club of Mozambique, Maputo, 30 June 2017) The Export-Import Bank of Korea announced on June 27 that it has signed a project financing contract on June 26 for offshore gas field development in Mozambique. The gas field development project is a joint project of the Korea Gas Corporation, Exxon...
more(Guardian, London, 5 July 2017) The G20 nations provide four times more public financing to fossil fuels than to renewable energy, a report has revealed ahead of their summit in Hamburg, where Angela Merkel has said climate change will be at the heart of the agenda. The authors of the report...
more(FOE Japan, Tokyo, 5 December 2016) On December 5, eleven local Indonesian community leaders, who have continued to oppose the “Batang Coal-fired Power Plant Project” over five years now, visited the Japan Bank for International Cooperation (JBIC) Jakarta office and submitted their objections...
more(Guardian, London, 7 December 016) Congress quashed the hopes late Tuesday of reviving the United States’ export credit agency, which had been aiming for a stopgap lifeline allowing them to approve more than $20bn in new deals, many of which pose imminent harms to the environment. Now, the fate...
more(TFX News, London, 12 December 2016) ECAs are to offer guarantees for two LNG projects in Mozambique, as commercial lenders watch closely to see how talks progress between the government and the IMF before committing to the project. Export credit agencies (ECAs),...
more(Guardian, 30 November 2106, Washington) resident Barack Obama has staked his legacy on the environment, positioning his administration as the most progressive on climate change in US history. However, an obscure agency within his own administration has quietly spoiled his record by helping...
more(Environmental Finance, 15 November 2016, Washington) On a promising note, the US recently led successful opposition to...
more(Lexology Newsfeed, 5 October 2016) On 17 November 2015, members of the OECD which are party to the OECD Arrangement on Officially Supported Export Credits (the Arrangement), agreed to a new sector understanding that limits the availability of export credit finance for less environmentally...
more(Climate Change News, London, 14 October 2016) The Export-Import Bank of Korea (Korea Exim) has drawn sharp criticism from Saudi Arabia for withdrawing its application to be a conduit for climate funding, days after protests attacked its history of financing coal. The board of the Green Climate...
more(Jubilee Australia, Sydney, 9 September 2016) The Jubilee Australia Research Centre and Oxfam Australia have submitted comments on Efic Policies and Procedures for environmental and social review of transactions prior to a 2016 government review. They note that, although Efic’s approach to...
more(Korea Federation for Environmental Movements, Seoel, 27 June 2016) There have been big concerns over Korea Exim bank’s involvement in the Green Climate Fund (GCF) as the bank has a long record of providing financing support for coal projects. The objective of GCF is “to promote the paradigm...
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