Over 250 organizations back groundbreaking efforts by OECD countries to end $41 billion a year in fossil fuel finance

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Proposal could end USD 41 billion per year flowing from government-run Export Credit Agencies to fossil fuels, and free it up for clean energy instead

As Organisation for Economic Co-operation and Development delegates prepare to meet in Paris from November 6-10, over 250 civil society organizations from 30 countries published an open letter calling on negotiators to support an end to

country ECAs must follow. .”The civil society letter, addressed to CETP signatory country negotiators in the ECAs are particularly responsible for advancing large fossil fuel infrastructure projects that enable the rest of the industry, for example investing in 56 percent of new hazardous liquified gas export terminal capacity built in the last decade . The initial

members have a historic opportunity to not only avoid breaching climate goals, but also stranded fossil fuel assets. Nina Pusic, Strategist at Oil Change International, said: “This is the moment where

 

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