Exclusion of coal-fired electricity generation and thermal-coal extraction
In September 2020, the Danish Government passed a resolution prohibiting Danish export credits for coal-fired power plants, thermal-coal extraction and thermal-coal logistics.
While projects of this nature have not been part of EKF's portfolio for the last decade, this is an important signal of Denmark's commitment to global phase-out of coal and a natural continuation of its efforts in support of the clean-energy transition.
EKF is not able to finance
|New coal-fired power plants||Power plants in which a generator converts thermal energy from thermal-coal into electricity|
|Thermal-coal extraction||Thermal-coal mining operations|
|Thermal-coal logistics||Infrastructure whose primary purpose is transportation, storage and/or handling of thermal-coal|
While the new agreement introduces a ban on export credits for coal-fired power plants, thermal-coal extraction and thermal-coal logistics, EKF will continue to participate in projects with energy-intensive companies. We will be supporting them in achieving a clean-energy transition process, by, for instance, providing financial incentives for opting for the best technologies and reducing the use of harmful fuels.
EKF also operates within two OECD Sector Understandings: A climate sector understanding aimed at creating financial incentives for opting for clean-energy technologies and solutions, and a coal sector understanding, which limits officially supported export credits for coal-fired power plants.