International Sustainable Finance
At Friends of the Earth, we work to strengthen and raise environmental and social standards at international financial institutions. Our goal is to promote the highest environmental, social, climate, and sustainability standards and practices in the international banking sector in an effort to protect the environment, communities, and climate on a local and global level.
From 2013 to 2015, the world’s largest ECAs provided an annual average of USD 38 billion in support of fossil fuels. Eighty-eight percent of ECA support for energy projects went toward fossil fuels, compared to only seven percent for clean energy projects.
Friends of the Earth U.S. today revealed that the Japanese government’s two export credit agencies — Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI) — continue to fund some of the world’s dirtiest coal plants.
As the African Development Bank (AfDB) kicks off its first-ever Africa Investment Forum in South Africa, a new analysis released today finds that the AfDB’s own support for the most cost-effective energy access solutions lags far behind what is needed.
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.
Americans have made it clear: We want a cleaner future. This means investing in sustainable and efficient renewable energy at home and abroad.