Export credit agencies provide billions to fossil fuel projects each year

(Fossil Free ECAs, Amsterdam, 30 January 2022) We can’t solve the climate crisis if export credit agencies (ECAs) continue to bankroll fossil fuels. This campaign is designed to inform the public and tell the governments behind these agencies to immediately end all export credit and other public financial support for oil, gas and coal. In recent years, banks and other private lenders have been backing out of fossil fuel projects as they recognise the huge financial risks posed by climate change. Governments with an interest in seeing these projects succeed are turning to ECAs to bankroll and encourage further investment in the projects. Fossil fuel support from ECAs disproportionately benefits corporations based in the Global North and impedes a just energy transition in the Global South.