WWF: British Government Should Stop Financing Big Oil

WWF is calling on the UK Government to stop using its Export Credit Agency (ECA) to subsidize Big Oil and other carbon intensive sectors.

ECAs are public agencies that provide government-backed loans, guarantees, credits and insurance to private corporations from their home country to do business abroad.

WWF’s recently released report, entitled “Flying Low: The UK Export Credit Guarantee Department and Climate Change“, highlights the contradiction between the billions of dollars that the UK Government is pouring into oil and carbon intensive sectors each year and the Government’s commitment to tackling climate change.

Oil Change International is working with organizations around the world to pressure rich countries and international institutions to stop using foreign assistance to subsidize the expansion of the international oil industry – a practice we call “Oil Aid.” This report is another important step in exposing the glaring contradictions in global energy and climate policy.