"Mozambican civil society sues Korean export institutions for fueling LNG project", 29 May 2025

...Mozambican civil society gorup JA! (Justiça Ambiental!) and South Korean youth climate activists filed a groundbreaking lawsuit against the Export-Import Bank of Korea (KEXIM) and the Korea Trade Insurance Corporation (K-SURE). The legal action seeks to prevent these institutions from making final investment decisions on or providing financial support to the Coral North Floating Liquefied Natural Gas (FLNG) project in Mozambique.

The two institutions have already provided approximately $1.8 billion in financing for Coral South, a twin project in Mozambique. Now, they are reportedly considering an additional $1.9 billion in loans and guarantees for Coral North. The financial agreements are expected to be finalized within the first half of 2025, raising concerns that public funds will once again be used to support fossil fuel expansion abroad.

Coral North is expected to produce 3.5 million tonnes of liquefied natural gas per year...

...The applicants argue that any financial backing for the project:

Violates Korea's constitutional and legal obligations.

Jeopardizes environmental rights both globally and locally.

Contributes to irreversible climate damage with no sufficient public interest justification.

Given the severe environmental and social impacts of the project, the plaintiffs claim it violates the environmental rights of both Korean and Mozambican citizens. South Korea's Constitution guarantees the right to live in a "healthy and pleasant environment", a duty shared by both the state and its citizens. As public institutions, KEXIM and K-SURE have a responsibility not to fund projects that deepen the climate crisis...