Tag Archives: UK Govt Handed £1Bn To Fossil Fuel Firms

UK Govt Handed £1Bn To Fossil Fuel Firms, Breaking Pledge – Greenpeace – 6 January 2015

RT logoThe UK government gave over a billion pounds of financial backing to fossil fuel projects around the world despite a pledge to support green technologies, it has emerged.

UK Export Finance (UKEF) loans were handed out to Gazprom in Russia, state-owned oil and gas giant Petrobras in Brazil and petrochemical companies in Saudi Arabia, an investigation by Greenpeace has found.

UKEF, a government agency overseen by Liberal Democrat business minister Vince Cable, financially supported fossil fuel projects despite apparently contravening the 2010 coalition agreement, which pledged to support green technologies instead of fossil fuel.

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