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Why $77 billion a year in public finance for oil, gas, and coal is even worse than it sounds
Why $77 billion a year in public finance for oil, gas, and coal is even worse than it sounds

The headline finding is that from 2016 to 2018 G20 countries provided an average of USD $77 billion a year in public finance for fossil fuels.

Over 260 CSOs call on Chinese actors to ensure COVID-19 financial relief be allocated to high quality, not high-risk Belt and Road investments
Over 260 CSOs call on Chinese actors to ensure COVID-19 financial relief be allocated to high quality, not high-risk Belt and Road investments

The international statement captures growing international concern regarding how Chinese development finance can do its part in successfully addressing the COVID-19 crisis without exacerbating environmental, social, climate, biodiversity, or other risks.

EXIM should not fund detrimental natural gas project in Mozambique
EXIM should not fund detrimental natural gas project in Mozambique

An obscure government agency, the U.S. Export Import Bank (EXIM), will decide this week whether or not to fund a $5 billion liquefied natural gas (LNG) investment, the agency’s largest transaction ever.

Don’t scrap environmentally responsible overseas investment with reckless Senate BUILD Act
Don’t scrap environmentally responsible overseas investment with reckless Senate BUILD Act

It fails to transfer to the new institution OPIC’s existing environmental, social, climate, transparency, worker rights, human rights, indigenous peoples, gender, anti-corruption and accountability policies — putting communities, the environment and the U.S. government at risk.

Export credit agencies must not fund Vietnam’s Long Phu 1 coal plant
Export credit agencies must not fund Vietnam’s Long Phu 1 coal plant

Through the U.S. Export-Import Bank (Ex-Im), Trump is pushing developing countries toward dependence on coal for decades to come.

OECD, It’s Time for Export Credit Agencies to Stop Funding Fossil Fuels
OECD, It’s Time for Export Credit Agencies to Stop Funding Fossil Fuels

As they gather in the shadow of the UN Climate Conference, ECAs must cease business as usual and finally move in a new and more sustainable direction by ending all support of fossil fuels by 2020 at the latest.

Senators, don’t put Ex-Im Bank’s fossil fuel financing back in business
Senators, don’t put Ex-Im Bank’s fossil fuel financing back in business

After providing almost $6 billion annually to fossil fuels from 2013 to 2015, the U.S. export credit agency – the U.S. Export-Import Bank (Ex-Im) – has been unable to finance large fossil fuel projects for the past two years.

G20 countries need to stop using export credit agencies to finance fossil fuel projects
G20 countries need to stop using export credit agencies to finance fossil fuel projects

Originally posted on Devex. by Kate DeAngelis, international policy analyst While some world leaders, such as South Korean President Moon Jae-in and French President Emmanuel Macron, have spouted lofty rhetoric about phasing out coal and other forms of dirty energy domestically, their pledges ignore their countries’ contributions to climate change outside their borders. Although at least seven major countries — including CanadaFrance, and Germany — have made commitments to phase out…

International Finance Corporation Flashes Warning Signs for Green Climate Fund
International Finance Corporation Flashes Warning Signs for Green Climate Fund

The IFC doesn’t know what a lot of its money is doing, and that’s bad. Though the subject matter might at first seem a bit dull, a recent monitoring report of the financial sector lending of the International Finance Corporation (IFC) is a doozy for the warnings it provides to the Green Climate Fund (GCF). The International Finance Corporation (IFC), the World Bank Group’s private sector lending arm, had a financial intermediary (FI) portfolio of…

Five things Trumps Paris Climate Speech got wrong in his attack on Green Climate Fund
Five things Trumps Paris Climate Speech got wrong in his attack on Green Climate Fund

Donald Trump announced this afternoon that the United States will begin the process of withdrawing from the Paris Agreement. During his remarks, Trump made a series of inaccurate and misleading statements about the Green Climate Fund in connection to his withdrawal decision.