NGOs urge OECD countries to say no to coal
October 6, 2014
A coalition of NGOs led by the ECA Watch network and WWF European Policy Office has written to Organisation for Economic Cooperation and Development (OECD) Finance Ministries and Export Credit Agencies to urge them to adopt policies to end financing for coal. The OECD’s Export Credits Group, which coordinates approaches towards export credit financing, is currently debating whether or not to adopt policies restricting coal financing. Several member states have proposed actually extending preferential financing terms to certain coal plant technologies. This letter argues that any proposals to perpetuate coal financing and extend preferential terms to certain coal plant technologies should be rejected. Instead, the groups argue that if we are to stay within 2 degrees celsius of global warming, it is absolutely critical for ECAs to end all coal financing, including for power plants, mining and related infrastructure.