UK Export Finance

Department for Business, Innovation and Skills written question – answered on 4th December 2015.

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Photo of Patrick Grady Patrick Grady Shadow SNP Spokesperson (International Development)

To ask the Secretary of State for Business, Innovation and Skills, if he will make it his policy to eliminate UK Export Finance investments in coal plants and coal mining overseas.

Photo of Anna Soubry Anna Soubry The Minister of State, Department for Business, Innovation and Skills

There are no plans to ban support for exports of goods and services to coal plants and coal mining overseas. However, applications to UK Export Finance (UKEF) which fall within the ambit of the OECD Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence will require that coal projects meet international, environmental, social, and human rights standards to qualify for support.

UKEF is participating in discussions in the OECD with the aim of achieving a multilateral agreement on limiting the provision of export credits for coal-fired power projects and an agreement is expected to be reached later in November.

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