(DeSmog, Seattle, 26 June 2024) Campaigners are increasingly taking out lawsuits against the funders of fossil fuels and other climate-harming activities,...
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2024/07/30
Country: Australia, France
Issue: Climate Change, Common Approaches, OECD, Oil, Gas and Mining
2024/07/30
Country: China, USA
ECAs: Export-Import Bank of the United States
Issue: Common Approaches, Transparency
(US Congress, Washington, 24 June 2024) The US Congress House Financial Services Subcommittee Chairman on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Blaine Luetkemeyer (MO-03), held a hearing entitled “The Role of the Export-Import (Ex-Im) Bank...
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2024/07/30
Country: Ukraine, United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Arms Trade
(Global Trade Review, London, 24 July 2024) The UK and Ukraine have signed an expanded defence pact and an export credit deal for the Ukrainian nuclear energy operator. A Defence Export Support Treaty, signed last week during a visit to London by Ukrainian President Volodymyr Zelenskyy, will...
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2024/07/30
Country: Canada
ECAs: Export Development Canada
Issue: Climate Change, Oil, Gas and Mining
Member: Above Ground, Oil Change International
(EcoJustice, Vancouver, 24 July 2024) Export Development Canada (EDC) has renewed a $200- to $300-million loan to oil and gas giant Enbridge Inc., despite environmental...
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2024/07/30
Country: India
(India Times, New Delhi, 26 June 2024) India is expected to extend a key support scheme for export credit to boost its export sector, which has been hit hard by a slowdown in developed countries. The commerce and industry ministry has proposed an extension of the interest equalisation scheme...
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2024/07/30
Country: Switzerland
ECAs: Swiss Export Risk Insurance
Issue: Climate Change, Oil, Gas and Mining
(Global Trade Review, London, 17 July 2024) Climate campaigners have accused Switzerland’s export credit agency (ECA) of “watering down” its climate commitments, after it scrapped a pledge to end all support for the fossil fuel sector. Swiss Export Risk Insurance (Serv) was...
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2024/07/30
Country: United Arab Emirates (UAE)
Issue: Climate Change, Oil, Gas and Mining
Member: Oil Change International
(Climate Change News, Broadstairs UK, 27 July 2024) As world leaders gathered in Dubai at the start of COP28 last December, the United Arab Emirates dropped a surprise headline-grabbing announcement. The host nation of the UN talks...
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2024/06/30
Country: USA
ECAs: Export-Import Bank of the United States
Issue: Climate Change, OECD, Oil, Gas and Mining, Renewables, Transparency
Member: Friends of the Earth USA
(E&E News, Arlington, 17 June 2024) The fate of an international plan to end a major funding source for fossil fuel projects could be decided this week by U.S. officials. Some of the world’s richest countries will meet behind closed doors starting Monday to discuss a European Union-led...
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2024/06/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Daily Business Group, London, 5 June 2024) Smaller firms and banks are being urged to make more use of the General Export Facility (GEF), a relatively unknown but valuable government scheme. It is designed to boost Britain’s SME exports by providing an 80% guarantee to banks for loans to...
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2024/06/30
Country: China
ECAs: Sinosure
Issue: Climate Change, Oil, Gas and Mining, Transparency
(Nigerian Tribune online, Ibadan, 26 June 2024) Civil society organisations have called on the Chinese government to rescind its decisions to build crude oil pipeline across East African countries. In an open letter to the Chinese Embassy’s Charge d’affaire Zhang Yi, Smith Nwokocha of StopEACOP...
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2024/06/30
Issue: Climate Change, Oil, Gas and Mining, Transparency
(Asharq Al-Awsat, London, 1 July 2024) QatarEnergy and Chevron Phillips Chemical Company LLC announced on Monday [10 October 2023?] that they have secured $4.4 billion financing for the Ras Laffan Petrochemicals project. The project financing comprises commercial and Islamic lenders and a group...
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2024/06/30
Country: Brazil, China
ECAs: Sinosure
[BNAMERICAS, Santiago, 10 June 2024) Brazil’s state-run oil company Petrobras is tightening its financial ties with China. The federal oil giant's actions in this area have gathered momentum since the beginning of 2023, when President Luiz Inácio Lula da Silva assumed the country's presidency....
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2024/06/30
Country: United Kingdom
ECAs: UK Export Finance (UKEF)
Issue: Climate Change, Common Approaches, European Union, OECD, Renewables, Transparency
(UKEF, London, 25 June 2024) UK Export Finance (UKEF) adopted the Equator Principles (EPs) on 31 March 2016, joining what now comprises 128 other banks and Export Credit Agencies (EP Financial Institutions or EPFIs) in applying this global guidance for environmental, social, and human rights (...
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2024/06/30
Country: USA
ECAs: Export-Import Bank of the United States
(Center for Strategic and International Studies, Washington, 18 June 2024) The U.S. Export-Import Bank (EXIM), the United States’ official export credit agency (ECA), is an independent, executive branch institution that supports U.S. businesses by financing the exports of goods and services....
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2024/06/30
Country: Australia, Japan
ECAs: Japan Bank for International Cooperation
Issue: Climate Change, Oil, Gas and Mining
(Global Trade Review, London, 4 June 2024) Perth-headquartered Woodside Energy has secured a US$1.45bn loan package from Japan’s export credit agency and a group of private lenders, backing an LNG development off the Australian coast. As part of the deal, the Japan Bank for International...
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