It's not a good look for a country claiming to be a climate leader to be providing massive financial support for fossil fuel projects abroad. Last summer it was revealed that the UK government’s foreign credit agency, UK Export Finance (UKEF) with a history of backing fossil fuel projects will underwrite oil company Total's exploitation of Mozambique's gas reserves with loans and guarantees worth over one billion dollars. As well as climate pollution, this fossil fuel megaproject has also caused forcible evictions of thousands already and threatens local ecosystems.
Hit by accusations of hypocrisy, Boris Johnson finally announced in December that the UK would stop funding fossil fuel projects overseas.
But it appears that UK Export Finance, the UK's biggest funder of overseas fossil fuels, is still considering applications from at least 17 projects, including the gigantic East Africa Crude Oil Pipeline, which it could try to fund before the ban comes into place.
Our friends at Global Justice Now have set up a simple online action to allow you to respond to the government consultation and call for the ban to be:
- Comprehensive, disallowing technical assistance for fossil fuel projects and indirect investments
- Not allowing exemptions for gas, carbon capture and storage (CCS) or for any hydrogen produced using fossil fuels.
And that UK institutions and institutions in receipt of UK ODA should divest from their fossil fuel investments on the earliest possible time frame.
The deadline for responding to the consultation is Monday 8th February