MPs urge ethical reform of export credit agency

A private member’s bill calls for reform of the Export Credits Guarantee Department. The government body has been slated for backing projects that fuel climate change.

The state body that insures UK exporters against their customers defaulting on credit agreements “operates entirely in a moral vacuum”, fuels environmental degradation and needs urgent reform, according to Lisa Nandy MP.

Launching a private member’s bill on 27 April, the Labour member for Wigan said her Export Credits Guarantee Department (Regulation and Reporting) Bill would: “Shine a spotlight on a government department that uses taxpayers’ money to fund business activities overseas, some of which are neither sustainable or accountable, and that have in the past caused significant damage to people and the environment.”

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