UK Export Finance has published a climate strategy for 2021-2024, as it increases its focus on projects that advance net zero
UKEF says that it will “support our customers in their transition to low carbon business opportunities, working particularly in the clean growth sectors. Whilst we can no longer support exporters and suppliers involved predominantly in the oil and gas sector or projects in these sectors, we can support and will seek to engage with UK businesses actively transitioning away from these sectors to the clean growth sectors (for example, through the Transition Export Development Guarantee).
“We will also continue to engage with UK exporters and project developers in other high emitting sectors (such as aviation and automotive), working alongside other government departments, to support reducing their greenhouse gas emissions,” UKEF says. Further details are expected in the coming weeks.
UK Export Finance is the operating name of the Export Credits Guarantee Department of government and works with companies and their banks to help to finance exports. Link to Climate strategy: UK Export Finance Climate Change Strategy 2021 to 2024 - GOV.UK (www.gov.uk)