Philipp Censkowsky, Paul Waidelich, Igor Shishlov, Bjarne Steffen
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引用次数: 0
Abstract
By providing guarantees and direct lending, public export credit agencies (ECAs) de-risk and thus enable energy projects worldwide. Despite their importance for global greenhouse gas emission pathways, a systematic assessment of ECAs’ role and financing patterns in the low-carbon energy transition is still needed. Using commercial transaction data, here we analyze 921 energy deals backed by ECAs from 31 OECD and non-OECD countries (excluding Canada) between 2013 and 2023. We find that while the share of renewables in global ECA energy commitments rose substantially between 2013 and 2023, ECAs remain heavily involved in the fossil fuel sector, with support varying substantially across technologies, value chain stages, and countries. Portfolio ‘greening’ is primarily driven by members of the E3F climate club, impacting deal financing structures and shifting finance flows towards high-income countries. Our results call for reconsidering ECA mandates and strengthening international climate-related cooperation in export finance.
期刊介绍：
Nature Communications, an open-access journal, publishes high-quality research spanning all areas of the natural sciences. Papers featured in the journal showcase significant advances relevant to specialists in each respective field. With a 2-year impact factor of 16.6 (2022) and a median time of 8 days from submission to the first editorial decision, Nature Communications is committed to rapid dissemination of research findings. As a multidisciplinary journal, it welcomes contributions from biological, health, physical, chemical, Earth, social, mathematical, applied, and engineering sciences, aiming to highlight important breakthroughs within each domain.
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