Sweden restricts international oil and gas finance to deliver on climate commitment

September 20, 2022By Nina PusicEnergy Transitions & Futures, Press Releases, Stop Funding Fossils No Comments

As the deadline for implementing the Glasgow Statement looms, the Swedish export credit agencies, SEK and EKN, have released an updated policy. A previously-released policy aligned Swedfund – the Swedish development finance institution – with the Glasgow Statement. SEK and EKN’s new policy ends almost all support to fossil fuels by 31st December 2022, with some limited exemptions.

The clock is ticking: Ambitious export credit climate policies needed to implement the Glasgow Statement

August 29, 2022By OCI TeamBlog Post, Stop Funding Fossils 1 Comment

By Nina Pusic   Often hidden from public view, export credit agencies (ECAs) hold a make-or-break role when it comes to achieving the 1.5°C warming goals of the Paris Agreement and averting climate catastrophe. Their export support, in the form of loans, loan guarantees and insurance, helps domestic companies limit the risk of selling goods … Read More

Explainer: What the COP26 and G7 promises to stop funding fossils in 2022 mean for climate and communities

July 28, 2022By OCI TeamBlog Post, Stop Funding Fossils 1 Comment

39 countries and institutions signed a joint commitment to end any support for fossil fuels flowing abroad by the end of 2022, and in its place prioritize finance for clean energy. Recently the G7 reaffirmed their commitment and were now also joined by Japan, the only G7 member who hadn’t signed on. Here’s what that means.

Report: Countries could shift almost USD 28 billion/year from fossil fuels to jump-start the energy transition—if they follow through on their pledges

June 30, 2022By nicolePress Releases, Reports, Stop Funding Fossils

The Glasgow Statement on public finance requires signatories to end new direct overseas support for fossil fuels by the end of 2022 and fully prioritize finance for a clean and just energy transition. But only a handful of signatories have begun to turn these pledges into action.