Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-13-Speech-2-393-500"
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"en.20110913.34.2-393-500"2
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"Export credit agencies (ECAs) are public policy instruments potentially well placed to contribute to the financing of international objectives to which the EU is committed, particularly regarding climate change and poverty alleviation. With the Treaty of Lisbon comes a strengthened coherence requirement for the entire field of external action of the EU.
ECAs are estimated to support twice the amount of oil, gas and mining projects as do all Multilateral Development Banks together. Half of all CO
emission-intensive industrial projects in developing countries have some form of ECA support. This is partly due to the fact that most of these projects are high risk, due to their environmental, political, social and cultural impacts, and would not come to fruition without the support and financial backing of ECAs.
ECAs are strategic development linchpins that play an enormous part in the environmentally harmful impacts of corporate activity. As government-backed institutions, ECAs should and could instead play an important role in promoting the transition to a low carbon economy in accordance with their national government climate commitments."@en1
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"2"1
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