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Ban on export credits for unabated coal-fired power plants

The Export Credit Agencies of the OECD Member States associated within group of the Participants to the Arrangement on Officially Supported Export Credits have adopted decision to ban provision of the official support of export for unabated coal fired electricity generation projects and supply of related goods and services. Interests of the Slovak Republic in respect of the official support of export at the OECD level are represented by EXIMBANKA SR.

 

The initiative aims to declare the readiness of the Export Credit Agencies to contribute to the Paris Climate Agreement and take part in efforts to mitigate adverse impacts of climate change in  context of the forthcoming United Nations Conference on Climate Change (COP26).

 

Restriction comes into force at the end of October 2021 and applies specifically to officially supported export credits and tied aid transactions related to following projects:

  • new unabated coal fired electricity generation projects, i.e. not equipped with Carbon Capture Utilisation and Storage technologies (CCUS)
  • existing coal fired electricity generation projects, except its retrofitting, i.e. supply of goods and services with purpose of the emission abatement which at the same time do not contribute to prolongation of useful life nor capacity of the facility.

 

More information:

 Agreement reached at OECD to end export credit support for unabated coal-fired power plants

 Ban on export credits for coal-fired electricity projects agreed at OECD

 

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