Fossil fuel firms have been given billions of pounds in financial support for their work overseas by the Government, files accidentally sent to the satirical magazine Private Eye reveal. Some £6.9bn in support was provided to oil, gas and coal companies under an export scheme since 2000, according to an analysis of the files by Greenpeace and the magazine. Most of that, some £4.8bn, was committed since 2010 when the Conservatives came to power, initially in coalition with the Liberal Democrats. Green energy projects received just £39m in support since 2012, when the first such agreement for renewables was struck. The funding – administered by UK Export Finance, a Government agency – includes the underwriting of loans and insurance for deals that would otherwise be too risky for private firms to enter into.
Independent 19th April 2017 read more »