Toward green export finance?

This report from UK think tank Bright Blue investigates the views of UK exporting firms towards UKEF.

This polling report from Bright Blue provides a detailed and incisive analysis of the opinions and perspectives of UK exporting firms at a pivotal time for UK trade and climate policy. The analysis in the report covers three broad areas of interest. It first evaluates the general experiences and views that UK exporting firms have with engaging the financing and support of UK Export Finance (UKEF), the UK’s export credit agency. It also examines the impact of the COVID-19 pandemic on UK exporting businesses and considers their opinions of the support provided by UKEF during the crisis. Finally, it considers their perspectives and policy preferences for UKEF’s approach to supporting the transition to a net-zero world. On this last area of focus, the key takeaway from our analysis is the robust consensus and strong mandate among UK exporting firms for action on climate at UKEF. Significant majorities of UK exporting firms favour UKEF introducing a range of even more ambitious policies to combat climate change. In particular, our findings show that UK exporting firms support the UK Government’s proposed phase out UKEF financing for fossil fuel projects overseas in 2021 and believe that UKEF should play a greater role in strengthening the transition to renewable energy through enhanced support for low-carbon exporting firms. Bright Blue believes these measures are necessary, but that UKEF must also go further and work toward generating full alignment of its investment policies with the ambitions of the Paris Agreement.

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