MPs Green Virtue Signalling Will Put Real Jobs At Risk

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

Just when you thought Parliament could not get any more out of touch with the real world!

From Global Witness:

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  • UKEF’s activities are the ‘elephant in the room’ undermining the UK’s international climate and development targets
  • UKEF’s support for fossil fuel energy is unacceptably high with the majority of investments in projects in low and middle-income countries
  • This risks locking them into high-carbon dependency for decades to come
  • UKEF should follow the lead of other export credit agencies, such as Sweden, and introduce a cap on lending to fossil fuel projects
  • UKEF plays a significant role in enabling fossil fuel projects by removing risk and sending investor signals to the market
  • Supports view of former UN Secretary General, Ban Ki-moon who urged a “recalibration” of UKEF’s policy to meet international climate trends and obligations
  • UKEF should end support to new fossil fuel projects by 2021, and should…

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