Activists demand end of massive OECD support for fossil fuels

(ECA Watch, Brussels, 18 November 2014) In the week of Nov. 18-21 a secretive body within the OECD discussed the potential revision of the “gentlemen’s agreement” under which they provide billions of dollars of public financing into the fossil fuel sector through their member export credit agencies. On November 18th, prior to a meeting with the OECD Export Credit Group, activists from the Export Credit Agency Watch network (ECA-Watch) protested outside the OECD, calling on this public institution to enter the 21st century and end its support for fossil fuels. A November 2014 report "The Fossil Fuel Bailout", by the Overseas Development Institute and Oil Change International estimates that G20 countries are subsidising oil, gas and coal explorers to the tune of $US88 billion