May 31, 2002
Mr. Ian Gillespie
President and Chief Executive Officer
Export Development Canada
Dear Mr. Gillespie:
I am writing you today on behalf of the NGO Working Group on Export Development Canada to bring to your attention the recent policy developments at the Export-Import Bank (Ex-Im) of the United States with regard to supporting renewable energy projects and to ask EDC to adopt Ex-Im’s approach to this important sector.
In the past 20 years, Ex-Im has financed more than $2 billion of American non-nuclear renewable energy exports. It has recently amended its charter to setting a 5% target for renewable energy. Finally, on May 2, 2002 , Ex-Im announced that it has established a special advisory committee of U.S. exporters and representatives of related trade associations and a non-governmental organization (NGO) to assist it in expanding its support for U.S. exporters in renewable energy industries including the solar, wind, geothermal, hydroelectric and biomass sectors.
As a member of ECA-Watch, we call for all export credit agencies to adopt a 20% target for renewable energy and energy efficiency programmes in guarantees and to phase out non sustainable energies (such as fossil fuels) within 5 years. Ex-Im’s recent policy developments towards renewable energy is a positive step towards this goal.
It is our hope that Export Development Canada (EDC) would see Ex-Im’s policies as a model for export credit agencies and that together with Ex-Im, EDC would be an international leader on supporting sustainable energy projects. Increasing focus on this sector would be a positive strategy for EDC in these times of concern around climate change and commitments to the Kyoto protocol. I look forward to hearing from you how much financial support has been extended from EDC to the non-nuclear renewable energy industry, and how EDC plans to support this important sector in the future.
Thank you in advance for your consideration.
NGO Working Group on Export Development Canada
A Working Group of the Halifax Initiative Coalition
Cc: The Honourable Pierre Pettigrew, Minister for International Trade
The Honourable David Anderson, Minister of the Environment