Coal: Export Credit Guarantees

(asked on 17th May 2019) - View Source

Question to the Department for International Trade:

To ask the Secretary of State for International Trade, what his Department's policy is on the maintenance of UK Export Finance support for coal-related projects.


Answered by
George Hollingbery Portrait
George Hollingbery
This question was answered on 22nd May 2019

UK Export Finance (UKEF) complies with the OECD Sector Understanding on Export Credits for Coal Fired Electricity Generation Projects which prohibits it from supporting all but the most efficient coal-fired power electricity generation, with exceptions for the world’s poorest countries where the costs of cleaner power technologies may be prohibitive and poverty reduction objectives are deemed to outweigh the impact on climate change. UKEF has not supported the financing of any new coal-fired power plants overseas since 2002.

UKEF undertakes environmental, social and human rights due diligence on all projects which are in scope of the OECD Arrangement on Officially Supported Export Credits, applying a risk-based approach. UKEF’s mission is to ensure no viable UK export fails for lack of finance or insurance from the private sector. Its support is available for UK exports from all sectors.

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