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 Until now, ECAs have not withdrawn from coal projects.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.
Our new report titled EU ECA fossil fuel phase-out tracker by Both ENDS, Counter Balance and Oil Change International 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.
From 6-16 september, the 13th Conference of Parties' of the UNCCD (UN Convention to Combat Desertification) took place, this time in Ordos, China. The UNCCD is the global convention of the United Nations on combating desertification and drought. Every country in the world has signed this convention. Canada withdrew in 2012, but in 2016 - under the Trudeau administration - started a process to re-enter the convention. Both ENDS is a member of Drynet, a network of local organisations and communities in dry regions searching for ways to use land in a sustainable manner.
Almost two-thirds of the export credit insurances that Atradius DSB provided in the 2012-2018 period went to the fossil energy sector. That is contrary to the climate agreements that the Netherlands signed in Paris.