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Environmental Guidelines for Export Credit Agencies
Paragraphs on ECAs from the final communiqué of G8 Environment Summit in Trieste, Italy

- 1 March 2001

34. Export Credit Agencies (ECAs), given their important function in supporting export trade and facilitating investment in economic development and infrastructure projects, can play a key leadership role in fostering sustainable development. ECAs should therefore take necessary actions to ensure that environmentally negative impacts, both local and global, arising from the projects benefiting from their support are mitigated and minimized.

35. The potential of ECAs to contribute to sustainable development needs to be fostered through a strong and effective commitment of the international community to quickly develop and implement common binding environmental guidelines for ECAs' for encouraging strengthened integration of environmental consideration in investment decisions. These common guidelines should be based on the practices of other internationally recognized, publicly supported multilateral finance agencies such as the European Bank for Reconstruction and Development and the International Finance Corporation of the World Bank. ECAs should also adopt common measures to increase the transparency of their decision making process, including public access to environmental information, public consultation and consideration of relevant elements of the recommendations of the World Commission on Dams (WCD).

36. We therefore welcome and urge special effort to meet the commitment taken by the G8 Heads of State and Government in Cologne and Okinawa to develop common environmental guidelines for ECAs by the July, 2001 G8 Summit. We welcome the work carried out so far within the OECD towards common approaches on the environment and on officially supported export credits, look forward to the report on progress of the OECD Export Credit Group (ECG) to the OECD Ministerial Council 2001, and call for increased and urgent attention to this issue to ensure its successful and rapid completion.

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