Both ENDS
During the UNFCCC Climate Change Conference next week in Bonn, Both ENDS,Transparency International, Human Rights Watch and Carbon Market Watch will host the side event “Environmental and social accountability for results based finance - Lessons learned and ways forward’’. This event will discuss how lessons from International Financial Institutions can inform the design and operation of appropriate redress mechanisms for the Green Climate Fund and other private and public climate finance flows.
Global public support for coal is decreasing. Obama has pledged to stop American support for public financing of new coal plants outside the U.S., the World Bank has announced to phase out support for coal projects and some large private banks are withdrawing from fossil fuels. But what about export credit agencies (ECAs)? Until now, ECAs have not withdrawn from coal projects. On the contrary: while other investors gradually cease their support to coal projects, export credit agencies are investing in coal more than ever. On June 11, an alliance of 50 NGOs, including Both ENDS, published a recommendation to the OECD calling for an end to export credit support for coal.
