New research estimates the Australian government's export credit agency has spent around 80 times more money on fossil fuel projects than renewables over the past 11 years.
New research conducted by non-profit organisation Jubilee Australia estimates Export Finance Australia, or E-F-A, has spent up to $1.69 billion in financing fossil fuel projects and related services over the past 11 years.
The credit agency is a commonwealth entity with an independent board.
It's self-funded with the money it spends going towards Australian export companies or their potential buyers, including overseas projects.
It's also helped finance the Ichthys [[ik-thiss]] L-N-G project off Western Australia's coast and the Wiggins Island Coal Export Terminal in Queensland.
The credit agency's mandate is to invest in sectors of national interest where there is a gap in private investment.
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