Fashion
EU, OECD partners pledge more transparency on export finance in energy
The EU’s commitment is part of its continued efforts to advance transparency, accountability and informed policymaking in support of the global energy transition.
The EU, Australia, Norway, Switzerland and the UK have committed to transparency on the export credits they provide in the energy sector.
This is part of EU’s efforts to advance transparency, accountability and informed policymaking backing energy transition.
They have requested the Export Finance for Future to report on all their transactions within the scope of the Arrangement on Export Credits.
“We intend to be transparent on the officially supported export credits we provide to transactions in the energy sector. This sector is vital for all economies and public export credits play an important role worldwide, by creating access to reliable, affordable and sustainable energy,” the EU agreed together with Australia, Norway, Switzerland and the United Kingdom.
“We have therefore requested the Export Finance for Future (E3F) coalition to report on all our related transactions within the scope of the Arrangement on Export Credits, with a breakdown by type of energy,” they said.
The E3F report lays out all relevant transactions notified to the OECD secretariat between 2015 and 2024 and shows a clear phase down of fossil fuel support, with in parallel a huge scale-up of renewable energy financing. Transactions are broken down by year, recipient country and energy sector. The intention is to report annually from now on, an official release from the EU said.
The EU participates in the OECD-hosted Arrangement on Officially Supported Export Credits, which seeks to foster a level playing field for this type of government-provided financial instrument. Climate-related provisions within the arrangement have been expanding since 2015, creating financial incentives for climate-friendly export credits and banning the financing of coal-fired power plants.
Launched in 2021, the E3F is a coalition of export credit agencies is committed to aligning their export finance policies with climate objectives by increasing support for sustainable projects, phasing out public finance for unabated fossil fuels, and publishing an annual transparency report on their export-finance transactions.
In 2024, the EU proposed to create a ‘coalition of the willing’ transparency exercise for the voluntary disclosure of energy-related transactions.
Fibre2Fashion News Desk (DS)
Nominal GDP, or GDP at current prices, is estimated to grow at 8.6 per cent to reach ₹345.47 trillion in FY26 against ₹318.07 trillion in 2024-25.
India’s real GDP is estimated to grow at 7.6 per cent to ₹322.58 trillion (~$3.54 billion) in FY26 compared to the first revised GDP estimate of ₹299.89 trillion for FY25 (7.1 per cent growth).
It released the new series of annual and quarterly national accounts estimates with FY23 base.
Real GVA is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25.
Real gross value added (GVA) is projected to grow at 7.7 per cent to reach ₹294.40 trillion in FY26 against ₹273.36 trillion in FY25 (a 7.3-per cent growth rate).
Nominal GVA is estimated to grow at 8.7 per cent to hit ₹313.61 trillion during FY26, against ₹288.54 lakh crore in 2024-25.
Robust economic performance in FY26 is primarily on account of robust real growth observed in the second quarter (8.4 per cent) and third quarter (7.8 per cent).
The manufacturing sector has been the major driver of resilient performance of the economy the consecutive three fiscals after rebasing, a release from the ministry said.
Both private final consumption expenditure and grossed fixed capital formation exhibited more than 7-per cent growth rate in FY26.
Fibre2Fashion News Desk (DS)
The transition marks the formal handover of executive leadership to President and CEO Keun-Chang (Kevin) Yoon, reinforcing management continuity while preserving the founder’s long-term strategic vision.
Misto Holdings founder Gene Yoon has transitioned to honorary chairman in a planned leadership succession, formally handing executive control to president and CEO Kevin Yoon.
The founder, who expanded the group through the FILA global trademark acquisition and the takeover of Acushnet, will continue guiding long-term strategy as the rebranded Misto focuses on governance and sustainable growth.
Gene Yoon founded the business that would become Misto Holdings in the early 1990s, introducing the FILA brand to the Korean market and later leading a series of transformative transactions. In 2007, the company acquired the global FILA trademark rights through a leveraged buyout, followed by the 2011 acquisition of Acushnet Company, owner of the Titleist and FootJoy brands. The transaction was among the largest cross-border deals in Korea’s consumer sector at the time and significantly expanded the group’s global footprint.
Under his leadership, the company evolved into a multi-brand global portfolio spanning sportswear, golf equipment and apparel, generating approximately USD 3.08 billion in annual revenue.
As Honorary Chairman, Gene Yoon will remain closely engaged with the company, providing guidance on long-term strategy and global portfolio development while supporting management from a broader strategic perspective.
The leadership transition marks a new chapter under President and CEO Kevin Yoon, who has spent nearly two decades in senior roles across the group’s global operations, building deep operational and strategic expertise.
The company’s 2025 rebranding to “Misto” underscores its evolution into a global brand house focused on disciplined capital allocation, enhanced shareholder returns and sustainable long-term growth.
“Building on the founder’s legacy, our priority is to expand our global portfolio, strengthen governance and deliver sustainable value creation,” said Kevin Yoon, President and CEO of Misto Holdings.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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