EGI calls on developed countries to stop support through Export Credit Agencies (ECAs) for fossil fuel developments and large hydro-power dams in Uganda that undermine the paris agreement, aggravate climate change, destroy the environment, heighten human rights violations and leave local communities disenfranchised.
EGI working with four environmental organizations from Ghana, Nigeria, Togo and Uganda, in cooperation with Friends of the Earth Netherlands and Both ENDS has released a report which reveals that since the signing of the Paris Climate Agreement, rich countries have provided almost 50 times as much support through ECAs for fossil fuel related projects less for clean energy projects in the four African countries.
In the report titled “A Just Energy Transition for Africa? Mapping the impacts of ECAs active in the energy sector in Ghana, Nigeria, Togo and Uganda”, it is revealed that rich countries insured energy projects with a total value of 11 billion US dollars and more than half of this export support is related to fossil fuels. Only 1% went to sustainable renewable energy. Export credit agencies provide insurances and guarantees to companies doing business abroad