Since the signing of the Agreement of Paris on the climate, the rich countries provided almost 50 times more support to export to both fossil fuel and clean energy projects in four African countries. This is the conclusion of a report written by by five environmental organizations Abibiman Foundation (AF, Ghana), Environment Rights Action (ERA, Nigeria), Environment Governance Institute (EGI, Uganda); Friends of the Earth-Togo (ADT-Togo, Togo), in cooperation with Friends of the Earth Netherlands and Both ENDS, and entitled; : “ A Just Energy Transition for Africa - Mapping the Impact of Credit Agencies in Africa (ACE) active in the energy sector in Ghana, Nigeria, Togo and Uganda ».

Indeed, according to this published report; by Both Ends, àgrave; Amsterdam, November 11, 2020 Rich countries have insured energy projects worth a total of US$11 billion through their ECAs.

Non-compliance; to the Paris climate agreement



Dependence on fossil fuels

By supporting the expansion of the fossil fuel sector in these African countries, export credit agencies are ensuring that economies remain dependent on fossil fuels; « in a world that is increasingly switching to renewable energy", explained Isabelle Geuskens of Milieudefensie. "These developing countries risk ending up with huge debts and fossil infrastructures to decades to come, while at the future, the demand for their oil and gas will decrease considerably.The Dutch export credit agency Atradius DSB is already warning of the dangers of huge debts of African countries that are economically dependent on fuels. But, at the same time, it contributes to this dependency by continuing to support fossil fuels in these countries.

Export credit agencies invited to green and just transition

With this report, the organizations want to raise some fundamental questions about the role of export credit agencies in supporting dirty energy in Africa. Hazekamp: " The vision that credit agencies have to export have durability is highly questionable.

The report calls on governments to: stop supporting fossil fuel projects; through their credit agencies to; export. Environmental organizations are also asking these governments to examine with a critical eye whether the energy projects supported by these agencies in the South are able to contribute to a just and green energy transition.