The United Kingdom’s prime minister, Boris Johnson, will commit to end the UK’s overseas fossil fuel financing “as soon as possible” at the Climate Ambition Summit. The phase-out of oil, gas, and coal financing applies to aid funding, trade promotion and export finance provided by UK Export Finance (UKEF), the institution that has come under scrutiny for its USD 1 billion investment in a controversial LNG project in Mozambique and for considering to finance the equally controversial East African Oil Pipeline.
UK Export Finance
OCI evidence to UK parliament inquiry on public finance for fossil fuels
Today Oil Change International gave evidence to the UK parliament’s Environmental Audit Committee, to contribute to its inquiry into the use of UK Export Finance (UKEF) to support fossil fuel exports and investments.