(Business Korea, Seoul, 29 July 2022) SK On, a battery business subsidiary of SK Innovation, has raised a total of US$2 billion for investment in Europe through official ECAS in Korea and Europe. The company plans to use the funds to finance the construction of its third European plant in...
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(New York Times, Kampala, 8 April 2022) Vanessa Nakate, Ugandan climate justice activist, notes that this week, the panel of climate experts convened by the UN delivered a clear message: To stand a chance of curbing dangerous climate change, we can’t afford to build more fossil fuel...
more(Global Trade Review, London, 9 March 2022) Export credit agencies and trade credit insurers have hurriedly axed coverage for Russia and Belarus as the deepening conflict and...
more(Wall Street Journal, Berlin, 25 February 2022) Berlin has stopped the approval of export credit and investment guarantees for Russia, the Economy Ministry said. With the so-called Hermes cover credit export guarantees, the German government protects companies against the insolvency of foreign...
more(Bharat Express News, Punjab, 11 January 2022) MV Werften, the German cruise ship builder controlled by Malaysian billionaire Lim Kok Thay’s Genting Hong Kong, has filed for bankruptcy after failing to strike a deal with the German government to support additional funding for a mega cruise ship...
more(Reuters, Moscow, 8 December 2021) Russia's Amur Gas Chemical Complex (Amur GCC) has secured $9.1 billion in loans maturing in 2035, Sibur, which co-owns the plant with China's Sinopec, said in a statement on Wednesday. International banks will provide $2.6 billion for the Amur GCC with...
more(Urgewald, Berlin, 15 September 2021) A new report by the environmental organisations urgewald and Deutsche Umwelt-Hilfe (DUH) shows that the German government is supporting climate-damaging oil and gas projects with guarantees worth billions of euros. In the report, the organisations examine...
more(Sky News, London, 16 July 2021) As deadly flooding ravages parts of Germany, the country's government is still considering massive investment in a Russian-led gas project known as Arctic LNG II. Germany has been accused of "pure play hypocrisy" for complaining of the impacts of climate change...
more(Reuters, London, 18 May 2021) A group of mostly Green Party lawmakers from the European Parliament on Wednesday urged the leaders of Germany, France and Italy not to support a Russian Arctic liquefied natural gas (LNG) project due to climate change concerns. The $21 billion project, led by...
more(Oil Change International, Washington, 15 April 2011) In response to the launch of a new Export Finance for the Future coalition (E3F), 21 civil society organizations (CSOs) from 14 countries...
more(Sydney Morning Herald, London, 12 December 2020) British taxpayers will stop subsidising overseas fossil fuel projects under a pledge by Prime Minister Boris Johnson which opens a new front in the push for more urgent international action on climate change. Johnson will announce the "world-...
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(Global Trading Magazine, Dallas, 25 September 2020) At the Sept. 9 end of the two-day 2020 G12 Heads of Export Credit Agencies (ECAs) meeting, which EXIM Bank hosted virtually from its Washington, D.C. headquarters, the 12 Heads of ECAs issued its first-ever G12 joint statement. ECAs involved...
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(Business Wire, Saskatoon, 31 August 2020) Gensource Potash Corporation, a Canadian fertilizer development company focused on sustainable potash production, announces the successful completion of the next major milestone for its Tugaske Project. Gensource has now received approval of its...
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