FoundOcean’s Post

UK Export Finance supported 650 UK companies to export (more than 50% were SMEs) and 41,000 jobs. 80% of those small businesses which UKEF helped with a product were based outside of London. The General Export Facility (GEF) unlocked over £575 million in financial support for UK businesses in 2023/24 which shows what a game changer this product has been. #internationaltrade #exporting #finance

A huge talking point since the start of CERAWeek has been about building a sustainable future in energy through collaborative efforts across all sectors. That could mean anything from block chain integration into the supply chain, blue hydrogen production, or even just streamlining operations and reducing organizational waste. This is a great first example of the follow through in the industry. #ceraweek #sustainability #oilandgas

The resolution of a trade dispute between Taiwan and the EU is expected to support demand for over NT$250bn (US$7.66bn) of offshore wind financings. LSEG LPC https://lseg.group/4fgbbOP

The top 10 banks are responsible for almost half of maritime LNG vessel financing | This report reveals that an estimated US$335 billion in financing has flowed to maritime LNG in the 5 years since the Poseidon Principals launched on June 18,2019 to address emissions in maritime shipping. https://ow.ly/YCss50TX4jK #shipping

UK Export Finance (UKEF) has signed a memorandum of understanding with the U.S. Department of Energy (DOE) Loan Programs Office (LPO) as part of plans to foster potential joint financing opportunities for energy and green infrastructure projects. The UK’s export credit agency signed the agreement with LPO this week at the CERAWeek energy conference in Houston, Texas. Vomic Nur Shah, Global Head Business Origination and Client Coverage at UKEF, and Jigar Shah, Director of LPO, were the signatories that marked the first-ever MoU between a European export credit agency and LPO. The collaboration and co-financing with UKEF and LPO is aimed at creating new opportunities for British businesses of all sizes, including smaller firms, looking to support US energy and decarbonisation projects. UKEF has a capacity of up to £5 billion for supporting exports to the United States. Jesse McDougall is the regional head for UKEF and is based at the British Consulate General in Houston. “The US remains the UK’s biggest trading partner, and this Memorandum of Understanding is an important step which helps us to continue strengthening economic ties and reducing carbon emissions,” stated Tim Reid, CEO of UK Export Finance. “I look forward to seeing our partnership nurture new opportunities for both the US energy transition and for British exporters.” #cleanenergy

Worrying... Reclaim Finance - ONG, the climate group, found a sharp rise in projects to boost the global trade of gas, driven by a shift from coal to gas in developing countries and Russia’s war on Ukraine. There were 8 liquefied natural gas (LNG) export terminal projects and 99 import terminal projects completed in the past 2 years, which increased the world’s export capacity by 7% and the global import capacity by 19%. LNG developers are planning 156 new LNG terminal projects worldwide to be constructed by 2030, of which 63 are export terminals and 93 import terminals. Although most major banks have set targets to move towards “net zero” banking, LNG projects meaning that investments have been allowed to go ahead despite climate targets with support of banks and governments.... https://lnkd.in/dfgN_c3e

With the EU's new foreign subsidies regulation (FSR) now in effect, extensive record-keeping is essential for companies operating in the EU. Recent enforcement action demonstrates the FSR's impact on multinational companies and foreign investors. In their latest alert, Christian Filippitsch and Max Seuster outline the key takeaways that businesses operating in the EU need to be aware of. #energy #semiconductors #securityequipment #electricvehicles #antitrust #mergercontrol #FDI

The Export-Import Bank’s investments in overseas oil and gas projects have continued even after advisers backed by the president voiced concern about the impact on climate change. https://lnkd.in/gz8jVm58 #biden #climatechange #eximbank #investments #funding #overseas #oilandgasprojects

Today, we celebrate the win. Tomorrow, we keep pushing to #EndFossilFuels! Our partner Reclaim Finance helped get French bank BNP Paribas to declare it's ending conventional oil & gas bonds—and they won't stop there. Reclaim Finance is calling on BNP Paribas to formalize this approach by including this rule in its climate policy and extending it to other financial services likely to contribute to oil and gas expansion. Read why BNP Paribas needs to do more: https://lnkd.in/ejNmcF-G

Let's talk disclosure. In the latest Government Finance Review, we highlighted GASB Statement No. 102, Certain Risk Disclosures. Here's the overview https://lnkd.in/ek87qtpD as well as some background on other disclosure-focused projects on GASB's current technical agenda. #GFOA #localgov #GASB