Italy joined the Export Finance for Future (E3f) coalition: the role of public support to exports for the implementation of green investments and projects

On November 24th, in the framework of its second Summit held in The Hague, Italy became a new member of the Export Finance for Future (E3f) coalition, along with Belgium and Finland. The coalition acknowledges the key-role of public financial support in championing transition towards projects and investments complying with the Paris Agreement. Moreover, its scope is consistent with the G20 Rome Leaders’ Declaration, adopted on October 31st, the principles defined at the G7 Summit in Carbis Bay as well as with the outcomes of the recent COP26 of Glasgow.

Founded by Denmark, France, Germany, the Netherlands, United Kingdom, Spain and Sweden on the April 14th 2021, the initiatives of the coalition are part of the wider process addressed to create value in the framework of an ecological transition that ensure a gradual and orderly path for citizens, enterprises and employment.

In light of the outcomes of the Cop26 - and in particular of the Statement on International Public Support for the Clean Energy Transition - this second E3F coalition Summit emphasised, inter alia, the importance of ending any new direct public support for the international fossil fuel energy sector, except in limited and clearly defined circumstances, by the end of 2022.

All current E3F members signed this Statement. Thus, the coalition will be a privileged forum to share approaches and actions taken at national level, coordinate efforts and monitoring implementation of the fixed objectives.