decision

Specific Instance to the UK NCP under the OECD Guidelines for Multinational Enterprises filed by Global Witness against UK Export Finance - decision

complaint

Specific Instance to the UK NCP under the OECD Guidelines for Multinational Enterprises filed by Global Witness against UK Export Finance - complaint

Filing Year For Action

On March 16, 2020 Global Witness filed a "specific instance" before the UK National Contact Point for the OECD Guidelines for Multinational Enterprises against UK Export Finance. The complaint argued that UK Export Finance was in breach of various chapters (Chapter III, Article 3 (sub-sections A, B and C), Chapter VI, Article 1 (sub-sections A, B and C), and Chapter VI, Article 4, Article 6 (sub-sections B, C and D)) of the Guidelines as a result of its ongoing support for fossil fuel projects.

In September 2020, the UK NCP rejected the complaint and refused its good offices on the basis that UK export Finance was not a multinational enterprise and the complaint was therefore out of scope.

Specific Instance to the UK NCP under the OECD Guidelines for Multinational Enterprises filed by Global Witness against UK Export Finance

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

This sector involves the wholesale and retail selling of goods.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

A subsidy is a direct or indirect payment to individuals or businesses, typically provided as a government cash payment or a specific tax reduction.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Social protection systems consist of policies that help people manage social risks in order to prevent poverty and maintain decent incomes and living standards

Direct investments by the governments using public funds. This can be to support climate initiatives or integrate climate into other projects.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

Financial support to help individuals manage the effects of unexpected events, securing their livelihoods and increasing the resilience of people and businesses to the changing climate. It’s especially vital in developing regions where everyday risks, climate-related weather extremes, or crop failures can push people into poverty. Without insurance, people may have to resort to selling assets or cutting consumption to cope with losses.

An agency providing government-backed financing, guarantees, and insurance to support domestic companies' international exports, that can play a role in financing climate-related projects.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

This sector involves activities that impart knowledge and skills to individuals, including formal schooling, vocational training and educational support.

The processes through which enterprises can identify, prevent, mitigate and account for how they address their actual and potential adverse impacts. Due diligence is the idea that reasonable precautions should be taken to avoid causing harm to people, the environment, or society. It also involves identifying and mitigating risks before they occur.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

Specific Instance to the UK NCP under the OECD Guidelines for Multinational Enterprises filed by Global Witness against UK Export Finance - decision

Policy instrument

Risk

Just transition

Renewable energy

Fossil fuel

Greenhouse gas

Economic sector

Finance