A group of climate activists (including Mozambican civil society group Justiça Ambiental!) have filed a lawsuit against the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-SURE) over their financial backing of the Coral North Floating Liquefied Natural Gas (FLNG) project in Mozambique. According to a release by non-profit Solutions for Our Climate (SFOC), the suit argues that expanding fossil fuel infrastructure is incompatible with the global goal of limiting warming to 1.5°C. KEXIM and K-SURE have previously allocated around $1.8 billion in funding for a similar project, Coral South, and are reportedly contemplating an extra $1.9 billion in loans and guarantees for Coral North. SFOC has said that this has raised concerns that public resources will once again be channelled to facilitate the expansion of fossil fuels overseas.
