(Financial Times, Brussels, 29 October 2023) The UK and EU will push the world’s richest countries to end subsidies for foreign oil and gas operations and coal mining at a closed-door OECD meeting next month, according to people familiar with the matter. The proposal to cut off the biggest...
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(Oil Change International, Washington, 15 March 2023) Promise Breakers, a report released today by Oil Change International, reveals that the Glasgow Statement, a joint commitment forged at the 2021 UN climate summit (COP26...
more(Oil Change International, Washington, 27 February 2023) Over 175+ organizations from over 45 countries have signed onto a Joint Civil Society Position calling for a robust prohibition on oil and gas finance under the OECD Arrangement on Export Credits. Export Credit Agencies (ECAs) are the...
more(Financial Management Magazine, Durham, 4 November 2022) As noted in our October What's New, ten European countries had agreed to spell out this year how they will limit export finance support for overseas fossil fuel projects. But they shelved...
more(Bloomberg, London, 23 August 2022) Through their little-known trade finance agencies, Germany, Italy and France have been among the biggest backers of Russian oil, gas and petrochemical development in the last several years, helping to enrich and insulate the country as it prepared to invade...
more(ECA Watch, Ottawa, 29 March 2022) As governments struggle to find fossil fuel supplies to offset dependence on imports from Russia, and transnational oil firms...
more(Reuters, Moscow, 30 November 2021) Russian gas producer Novatek (NVTK.MM) said on Tuesday its Arctic LNG 2 plant has signed loan agreements with foreign and Russian banks worth 9.5 billion euros ($10.8 billion), securing necessary external financing for the project. Earlier this year, Novatek...
more(Urgewald & Reclaim Finance, Berlin, 24 February 2021) urgewald, Reclaim Finance, Rainforest Action Network, 350.org Japan and 25 further NGO partners have published groundbreaking research on the financiers and investors behind the global coal industry. It was found that in January 2021, 4...
more(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(National Law Review, Western Springs IL, 26 March 2020) On 19 March 2020, the European Commission adopted a temporary framework for State aid to support the economy amidst the consequences of the Coronavirus (COVID-19) outbreak. The temporary framework provides for five types of aid, including...
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(European Parliament, Brussels, 30 January 2015) Twelve members of the European Parliament from 5 of the 7 political groupings in the Parliament have written EU Commissioner for Trade Cecilia Malmström to express their "deep concerns about a non-paper for an EU position for the OECD...
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