UK Export Finance Contents


Terms of reference


1 Introduction and Background

UK Export Finance

Our inquiry

Background: Emissions, climate change and international agreements

Paris Agreement

Sustainable Development Goals

Consequences of global heating

Greenhouse Gases

Net zero emissions

2 UK Export Finance’s support for the energy industry

The scale of UKEF’s support for the energy industry

UKEF’s support to exports to high-, medium- and low-income countries

Criticisms of UKEF’s support for fossil fuels

Out of step with the UK’s climate goals

UKEF’s symbolic role

Carbon lock-in

Stranded assets


The UK’s climate leadership

3 Energy transition

Global pathways to 1.5°C warming

UK Export Finance and energy transition

Timing of transition

A just and sustainable transition

International comparison

Notable emissions policies among other ECAs

Competition between ECAs

Opportunities for the UK’s global leadership

4 Policy, measurement and transparency

UKEF’s environmental policies

Criticisms of UKEF’s environmental policies

Measurement and transparency

Calculation and estimation

Prevalence of reporting

Conclusions and recommendations

Appendix: Climate risks associated with 1.5°C and 2°C warming

Formal minutes


Published written evidence

List of Reports from the Committee during the current Parliament

Published: 10 June 2019