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Support through export credit insurances makes it attractive for private companies and banks to invest in a future based on the extraction of fossil fuels. This practice is not consistent with the commitments that governments have made with regards to the Paris Climate Agreement. Both ENDS realises that it is necessary to phase out export credit insurances that support the fossil fuel sector, but that this needs to be done gradually. But we cannot afford to postpone the discussion on how this phasing-out should be conducted any longer. Given the urgent need to fight climate change, Both ENDS uses this report to call on the Dutch government – especially the Ministry of Finance – and Dutch members of parliament to come up with a plan with goals and steps to abolish export credit insurances for the fossil fuel sector.
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