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.
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.
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.
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.
Through the U.S. Export-Import Bank (Ex-Im), Trump is pushing developing countries toward dependence on coal for decades to come.
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.
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.
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 Canada, France, and Germany — have made commitments to phase out…
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…
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.