France to End Export Guarantees on Fossil Fuel Projects in 2023

France is bringing forward a planned ban on granting government guarantees to a broad range of oil and gas projects abroad by French companies.

Finance Minister Bruno Le Maire made the announcement Monday during a presentation of the country’s 2023 budget. An adviser said the measure would take effect at the end of this year, citing the proposed budget law.

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The move aimed at fighting climate change would effectively accelerate a pledge by the French government to progressively halt state export credit guarantees for fossil fuel projects. These types of ...