Export credit agencies (ECAs) are lagging private financial institutions in setting targets for reaching net zero greenhouse gas emissions and are missing opportunities as the energy transition gets underway.
That’s the argument of a University of Oxford paper published last week by a group of five researchers, including experts in trade, law and economics.
Former Bank of England governor Mark Carney says in the paper’s foreword that ECAs “are increasingly conspicuous by their absence” in efforts by financial institutions to back a transition away from fossil fuels. Seven European countries announced in April they
intend to wind down finance to fossil fuels and boost sustainable financing, but stopped short of setting emissions reduction targets.
Sinosure becomes first Chinese insurer to open regional office at DIFC
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Chinese state-backed Sinosure opens regional office in Dubai
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Chinese state-backed Sinosure opens regional office in Dubai Gulfbusiness.com 16 hrs ago © Motivate Publishing DIFC-gate
Chinese state-funded and policy-oriented insurance company, Sinosure, confirmed on Sunday that it had opened a regional office in Dubai.
It is the first Chinese insurer to operate in the Dubai International Financial Centre (DIFC) free zone.
Sinosure promotes China’s foreign economic, trade development and cooperation on a non-profit basis and said that through its office in DIFC it will support China’s Belt & Road initiative.
As the preferred financial centre in the region for Chinese firms and home to the major financial institutions from China, #DIFC is pleased to have Chinese insurer SINOSURE set up its regional office in the Centre. Read more: https://t.co/FwpLoKmtMQpic.twitter.com/HDGle2A633