Netherlands unlikely to sign fossil fuel pledge at Cop26 at this stage
A pledge will likely be released at the climate summit in Glasgow on Thursday, in which various countries promise to stop government support for fossil fuel projects by the end of next year at the latest. There will be no Dutch signature under this pledge for the time being, even though caretaker Prime Minister Mark Rutte called for more "action and implementation" to combat global warming in Glasgow on Monday.
The caretaker Cabinet leaves decisions on support for the fossil fuel industry to the next Cabinet, a spokesperson for the Ministry of Finance said. He referred to a piece in which the Cabinet stated earlier this year that it "is up to the next Cabinet to determine the level of ambition."
Rutte did not answer substantive questions about export credit insurance and the pledge in Glasgow. "I cannot say in all respects what exactly the Netherlands will do," he said during his visit. "In a general sense, of course, we look very positively at every possibility to achieve something together."
The pledge is an initiative of the British government. The European Investment Bank, with which the Netherlands shares a pavilion at the summit, is also involved. A draft version ANP saw made reference to the goal of keeping global warming within 1.5 degrees. Therefore, according to the drafters, support for coal, oil, and gas projects should be phased out quickly. About 20 countries are sympathetic to it.
With export tax credit insurance, the Netherlands helps companies that want to participate in significant projects abroad. This involves billions of euros a year. If a big project cannot be insured through commercial companies, the government will step in. The insurance and guarantees are provided by Atradius DSB, which the Ministry of Finance manages.
Reporting by ANP.