(UN Environment Program, Baku, 4 December 2024) COP29 held in Baku, Azerbaijan, offered an important opportunity for governments and other global stakeholders to put in place the mechanisms, tools and signals required for countries to continue implementing their contributions to the Paris...
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(Oil Change Int'l, Washington, 20 December 2024) OECD members have failed to pass a landmark deal to end over $40 billion in public subsidies to fossil fuels. Despite last-ditch attempts by senior government and ...
(JD Supra, Sausalito, 5 November 2024) The Minerals Security Partnership Finance Network (MSPFN), a joint financing body, was announced by the United States, the European Commission, the United Kingdom, Canada, Japan, Australia, and nine other nations on 23 September 2024 at the United Nations...
more(Global Trade Review, London, 27 November 2024) The two-week-long UN Climate Change Conference (Cop29) ended last week with a contentious pledge by wealthy countries to increase climate finance. While the commitment was criticised by developing nations as insufficient, objections from some of...
more(Global Trade Review, London, 14 October 2024) Ahead of crunch talks within the OECD Arrangement, climate groups are pressuring the US, Korea and Japan to agree to a comprehensive proposal that would halt billions of dollars in fossil fuel financing each year. In recent days, over 40...
more(Bloomberg, 17 September 2024) A group of developed nations will make a new push to resolve differences amid fading prospects for a deal to restrict funding of foreign oil and gas projects by their export credit agencies. Restricting export credit agencies is seen as a potentially important...
more(Both Ends, Utrecht, 4 April 2024) The EU ECA fossil fuel phase-out tracker sheds light on the concerning lack of harmony between EU Member States' export credit climate policies. The report was updated on April 17th, following new responses by Member States on their respective policies....
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(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...
more(Price of Oil, Washington, 11 July 2023) Italy’s export credit agency SACE has approved a $500 million guarantee in loans for the Talara oil refinery in Peru, once again breaking their commitment to end their international public finance for fossil fuels by the end of 2022. SACE is the biggest...
more(Swedwatch, Stockholm, 27 April 2023) Despite promises to make financial flows consistent with a low-carbon economy, EU member states continue to provide financial support to the fossil fuel industry through export credits. It is time that the EU Commission replaces its outdated policy with new...
more(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(Reuters, Brussels, 2 November 2022) Italy is attempting to weaken a pledge 10 European governments intend to make to stop export credit support for fossil fuel projects. The pressure from Italy comes as delegates from nearly 200 countries prepare for a United Nations climate change summit next...
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