Fossil fuel projects received 80 times more money than renewables from Australia’s export credit agency

The Guardian: 

Australia’s export credit agency provided more than $1.5bn in finance to fossil fuel projects between 2009 and 2020, about 80 times the amount it spent on renewables, according to a new report.

The research, by Jubilee Australia, examined transactions by Export Finance Australia (EFA) – previously known as the Export Finance and Insurance Corporation – finding it had provided between $1.57bn and $1.69bn in financing to coal, oil and gas projects, including refinancing.

Over the same 11-year period, covering the hottest years on record globally, it provided $20m in support to renewables projects.

[ Lisa Cox ] 

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