Mat Hope and Chloe Farand

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UK Credit Agency Investigated Over Fossil Fuel Investments

Read time: 4 mins
Oman Oil sign

A government credit agency tasked with bolstering the UK’s export opportunities is to be investigated by parliament over its ongoing support of fossil fuel projects.

The House of Commons’ Environmental Audit Committee (EAC), chaired by Labour MP Mary Creagh, is launching an inquiry into the UK Export Finance’s (UKEF) activities in light of the UK's climate commitments under the government’s Clean Growth Strategy.

That strategy aims to lay out the pathway for the UK’s economy to grow while also cutting its greenhouse gas emissions. But environmental campaigners have accused UKEF's activities of directly contradicting the UK's commitment to tackling climate change.