For most policymakers, export credit agencies (ECAs) are financial tools that boost national companies’ business endeavours abroad. But a recent research project conducted by Philipp Censkowsky, Paul Waidelich, Igor Shishlov, and Bjarne Steffen reveals the profound impact they have on the energy transition. Our study analysed 921 energy-finance deals backed by ECAs from 31 countries between 2013 and 2023. We used commercial transaction data to track how much ECAs invested in fossil fuels versus