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Export credit agencies

Fern works towards EU trade and investment policies that do not subsidise climate change and ensure strict financing rules are in place for institutions such as Export Credit Agencies. 

Fern’s analysis: Despite the EU’s claim that it is a leader in halting climate change, its trade and investment policies are in fact worsening the situation. Among the most damaging institutions supported by EU policies are Export credit agencies (ECAs) and the European Investment Bank who continue to finance destructive activities and the fossil fuel industry to the tune of millions. Nearly 10 per cent of world exports are supported by ECAs, approximately twice the world’s total overseas development assistance.

What Fern is doing: Fern is analysing EU finance and investment's impacts on forests and the climate in order to show its incoherence with the EU's climate policy to keep global warming below two degrees celcius and make it accountable to its own climate policies. Fern is also facilitating the European ECA Reform Campaign, bringing together a coalition of organisations from across Europe with the goal of achieving environmental and social standards for EU-based ECAs.

To learn more about this campaign: see www.eca-watch.org, the report Exporting Destruction. Export credits, illegal logging and deforestation and the book Why Investment Matters.

Most recent publications

ECA-Watch submission on revision OECD Common Approaches

On 6 June 2007, FERN and ECA-Watch submitted their suggestions for language and major points of concern to be considered in the revision of the OECD Recommendation on Environment and Officially Supported Export Credits. The suggestions relate to:

- Transparency
- Reporting and Monitoring of impacts of approved projects
- Consultation and Participation
- Extractive Sector Revenue and Contract Transparency
- International Standards
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ECA-Watch comments on draft OECD Common Approaches

On 9 November 2006, FERN and ECA-Watch submitted their comments and proposed changes to the draft text of the revised OECD Recommendation on Common Approaches on Environment and Officially Supported Export Credits.
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ECA-Watch submission to OECD on Common Approaches

On 20 April 2007, FERN and ECA-Watch submitted final comments on the ongoing revision of the OECD recommendation on officially supported export credits and the environment. In the letter FERN and others express their regret that not more than a fraction of civil society comments have been taken on board in the near final draft of the agreement.
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Letter to the Commission on Iraq protest over Ilisu Dam

It has been reported in Die Presse, the Austrian newspaper, that the Iraqi Foreign Minister wrote to the European Commission protesting against the Ilisu Dam and demanding the EC's intervention. FERN has obtained the letter and, on 15.5.2007, has written to Commissioner Ferrero-Waldner, asking what steps the Commission is taking to address the concerns raised by Iraq.
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Newroz Statement of Solidarity

At the occasion of the Newroz celebrations 2007, the European ECA Reform Campaign reaffirms its opposition to European export credit support for the planned Ilisu Dam in Southeast Turkey.  It also expresses solidarity with the many thousands who are currently living under the threat of displacement and those working to support their interests.
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Why Investment Matters

Investment is not just a blandly apolitical process by which money is mysteriously made to grow, but a process in which companies and governments define and redistribute access to assets, determining who accumulates wealth and at whose expense. This book, by Kavaljit Singh, aims to educate us how investment works, who the main players are and what trends are emerging.
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PDF iconWhy Investment Matters1.16 MB

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