UK could end investment in fossil fuels
23rd November 2009
The UK’s Shadow International Development Secretary Andrew Mitchell has revealed the Conservative party’s plan to end the use of the Export Credit Guarantee Department (ECGD) to support investment in fossil fuel power stations globally, if the party came into power.
Mitchell will set out plans to make the ECGD more proactive in distributing new green energy technology to developing countries. He intends to lay out his argument for why taxpayers’ money shouldn’t be spent on projects that contribute to global warming in a speech at the Overseas Development Institute.
The role of the ECGD, which reports to First Secretary of State Lord Mandelson and Minister for Trade, Investment and Business Lord Davies of Abersoch, is to assist exporters of UK goods and services to win business.
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