(Both Ends, Amsterdam, 11 November 2020) Many industrialised nations are switching to renewable energy at home. But while they commit to phasing out fossil fuel energy domestically, these commitments are abandoned outside their borders, where they continue to push dirty energy, thus...
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(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...
more(Swedwatch, Stockholm, 25 September 2020) The coal industry is well-known for its serious climate implications and effects on local communities. Still, European export credits have contributed to expand the coal industry in countries already dependent on coal, including South Africa, a new...
more(Urgewald, Sassenberg, 21 September 2020) In its recently released report on Greening Equity Investments in Financial Institutions the International Finance Corporation (IFC), the private sector arm of the World Bank Group, announced it has adopted Urgewald’s Global...
more(Reuters, London, 18 September 2020) International lenders have lined up about $9.5 billion in financial support for a Russian Arctic liquefied natural gas (LNG) project, a document seen by Reuters showed, even as such projects come under greater scrutiny over climate concerns. The $21 billion...
more(South China Morning Post, Hong Kong, 15 August 2020) China risks being left behind as South Korea and Japan signal a shift away from financing overseas coal power in response to growing criticism over their support for the dirty fossil fuel. The three countries are the top global lenders for...
more(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...
(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...
more(Bank Track, Paris, 6 May 2020) Reclaim Finance has published the most accurate analysis tool ever released regarding policies adopted by French financial players in the coal sector. The aim is twofold: to facilitate the comparison between policies on the same public criteria and to allow...
more(Oil Change International, Washington, 22 April 2020) This briefing outlines why continuing to rely on fossil fuels, in particular oil and gas, is not compatible with long-term recovery. Governments now face a choice: fund a just transition away from fossil fuels that protects workers,...
moreThe South Korean government is backing a $2 billion bailout of the country’s biggest coal plant manufacturer, despite promises to end coal financing. State-owned Korea Development Bank (KDB) and the Export-Import Bank of Korea, the country’s export credit agency, have agreed the package of...
more(Client Earth, London, 12 November 2019) As the European Investment Bank (EIB) Board of Directors prepares to vote on excluding natural gas from its lending policy, lawyers have issued a clear warning: continuing to finance fossil fuels would breach the Bank’s legal duties. [While facing a...
more(Reuters, Tokyo, 1 May 2020) Japan’s government, along with JBIC, has long been criticized for backing exports of coal-power technology and equipment by environmental groups as the world moves to cut emissions to combat climate change. However, JBIC Governor Tadashi Maeda was quoted as saying...
more(Bank Track, Nijemgen, 20 March 2020) The latest version of the most comprehensive report on global banks' fossil fuel financing, Banking on Climate Change 2020, was released today, revealing that 35 global banks have not only been sustaining but expanding the fossil fuel sector with more than...
more(World Economic Forum, Geneva, 3 January 2020) To continue financing fossil fuel expansion is today’s equivalent of betting the bank - and the global economy - on subprime mortgage-backed securities over a decade ago; it is fuelling a crisis that, even if it generates short-term profit, will...
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