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The OECD has adopted a new list of “climate-friendly” projects that will be able to benefit from preferential financial terms for export support. Yet, a number of projects included are poorly defined, potentially allowing for preferential financial incentives for export credit agency (ECA) investments in gas.
The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas - as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.