Germany Revises Export Credit Guarantees for Fossil Gas Infrastructure amid Climate Strategy
Germany has revised its export credit guarantees for fossil gas infrastructure as part of its climate strategy, with the first assessment cycle set for 2026. Current guidelines permit support for fossil gas projects that meet specific criteria, including hydrogen readiness, while ensuring alignment with the Paris Agreement's 1.5°C target. The government will require developers to demonstrate compliance with these climate pathways, with further evaluations and public consultations planned.
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In November 2023, Germany introduced its climate strategy for export credit guarantees, focusing on aligning support with climate objectives. The first revision cycle will occur in 2026, assessing eligibility for fossil gas projects.
Current guidelines allow support for fossil gas if they meet specific criteria, including readiness for hydrogen use. Public support for fossil fuels must align with 1.5°C compatibility under the Paris Agreement.
The government plans to require project developers to demonstrate compliance with 1.5°C pathways. Various options for eligibility criteria are discussed, emphasizing the need for robust assessments of both national and corporate climate targets. The NewClimate Institute will review and participate in the upcoming public consultation once new guidelines are released.
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