Above Ground, Environmental Defence and Oil Change International release a statement reacting to EDC's 2023 targets and 2050 net-zero emissions plan.
export credit agencies
Export credit agencies and states potentially at risk of climate litigation over finance for fossil fuels
Export credit agencies and the governments that oversee them could be in violation of their international legal obligations if they do not swiftly reduce their fossil fuel finance, according to a legal opinion published today.
In this submission to the UN Committee on Economic, Social and Cultural Rights, Above Ground and fellow members of ECA Watch encourage the committee to remind states of their duties relating to export credit agencies and human rights.
This report, published in 2014 by the Halifax Initiative, Counter Current, Forum Suape, Both Ends and Movimiento Ríos Vivos, presents case studies of projects with significant human rights impacts that have been carried out by private sector actors financed by export credit agencies. One of the case studies focuses on Export Development Canada's financing of Brazilian mining company Vale. The report identifies policy and law reform recommendations that seek to ensure that export credit agencies no longer commit nor are complicit in human rights violations.