(Environmental Defense, Toronto, 4 December 2023) At COP28, Export Development Canada (EDC) joined other export credit agencies to launch the Net-Zero Export Credit Agencies Alliances (NZECA), an alliance of international public finance institutions committed to reaching net-zero greenhouse gas...
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(UNEP, Dubai, 4 December 2023) At COP28 today, 8 leading export credit agencies, in partnership with the University of Oxford, Future of Climate Cooperation, and the UN Environment Programme Finance Initiative (UNEP FI) launched the UN-convened Net-Zero Export Credit Agencies Alliance (NZECA),...
more(Oil Change International, Washington, 2 December 2023) Norwegian Prime Minister Jonas Gahr Støre announced today that Norway has joined the Clean Energy Transition Partnership (CETP, sometimes called the Glasgow Statement) at the UN COP28 climate summit in Dubai. Boost for CETP which now...
more(Oil Change International, Washington, 28 November 2023) Representatives of Friends of the Earth Japan & Oil Change International traveled to Texas & Louisiana in early November for a week-long tour, organized by ...
moreGlobal Trade Review, London, 22 November 2023) Premiums for trade credit insurance hit US$13.9bn in 2022, a small proportion [0.19%] of the US$7tn in insured shipments where trade credit insurance could have been used, the International Credit Insurance and Surety Association (ICISA) says. Only...
more(ECA-Watch, 1 December 2023) As climate disasters intensify and as more people than ever are forced to choose between heating and eating, or transport and shelter, we called on the leaders of our governments and public finance institutions to work together at COP28 to end the fossil fuel era...
more(Insider, Glascow, 16 November 2023) UK Export Finance (UKEF) has issued a loan guarantee so that Seaway7 can access a £370m funding package under its Export Development Guarantee so that the offshore wind company can invest in its UK operations. The guarantee covers 80% of the total loan,...
more(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...
more(Friends of the Earth Japan, 13 November 2023) NuScale Power, a U.S.-based company, has announced the cancellation of its plan to build a small nuclear reactor in Idaho, U.S. The Japan Bank for International Cooperation (JBIC), had invested in NuScale in April last year, together with JGC...
more(SDG/IISD, Winnipeg, 8 November 2023) 2022 was a milestone in global power energy markets. For the first time, total investment in renewable power generation and related products matched or slightly exceeded investment in fossil fuel production. By some estimates, global investment in clean...
more(Globe & Mail, Toronto, 3 November 2023) Canada’s export financing agency applies its own flagship environmental and social review process in less than 1% of the transactions it supports, the Auditor-General of Canada’s office has found. An audit report released to Parliament Thursday...
more(Global Trade Review, London, 7 September 2023) The export credit insurance market saw claims jump by more than 700% in Russia last year, as the industry grappled with the fallout of the Ukraine crisis and western sanctions, Berne Union research shows. Short-term export credit claims involving...
more(Berne Union, London, 7 September 2023) A Berne Union report investigates how political risk insurance can be approached amid the ongoing effects of the pandemic, geopolitics and the evolving Russia/Ukraine crisis. The search for new, diversified suppliers of strategic materials to support the...
more(The Times of India, Delhi, 9 November 2023) According to the Swedish Export Credit Agency, the interest and unpaid penalties on 1,000 Volvo cars, have racked up a breathtaking USD 322 million still owed. The 1974 order for the batch of 1000 Volvo 144 sedans to be used as taxis was given by Kim...
more(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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