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The Labour Party has pledged to help British businesses export their goods and services to boost low-carbon projects overseas and ensure UK aid does not support fossil fuel projects if it wins the next general election.
The policy is a clear break from current government practice which has seen the UK Export Finance — the UK’s credit agency which underwrites loans and insurance for risky export deals as part of efforts to boost international trade — overwhelmingly finance fossil fuel projects abroad.
The Labour Party made the announcement as part of its Green Transformation policy paper, which was published during the party’s conference in Liverpool.
