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In the context of the debate on the modalities by which OECD countries take into account the potential environmental impact of projects that may benefit from official export credit support, OECD countries as Members of the Working Party on Export Credits and Credit Guarantees (ECG) have, with the benefit of input from the OECD’s Environment Directorate, agreed a set of provisions specific to official export credits:
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In 1998, agreed a Statement of Intent on Export credits and the Environment reflecting the desire of ECG Members to strengthen consideration of the potential environmental impact of projects during the risk-assessment phase.
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In 1999, decided to strengthen the exchange of information on big projects located in sensitive sectors.
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In 2000, continued their cooperation efforts through the adoption of an Action Statement which aimed, inter alia, to develop a framework of Common Approaches and to exchange information with interested stakeholders. A Work-Plan specifying the tasks of the ECG was adopted, leading to the negotiation of a more structured common approaches agreement in the form of a draft OECD Recommendation, which was implemented voluntarily by most ECG Members from 2001.
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In 2003, negotiated an OECD Recommendation setting out the common approaches to reviewing projects, for which official support has been requested, for their potential environmental impacts: this was adopted by the OECD Council in December 2003. Whilst an OECD Recommendation is legally non-binding, it expresses the common position or will of the whole OECD memberships and therefore may entail important political commitment for Member governments.
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In 2006, reviewed the 2003 OECD Recommendation in light of experience and with input from representatives of business, labour unions and NGOs as well as the EBRD, the IFC, the World Bank and UNEP, and agreed a Revised Recommendation, which was adopted by the OECD Council in June 2007. The 2007 Recommendation replaces the 2003 version; it sets out strengthened environment-related requirements for export deals to qualify for official export credit support from OECD Members.
Elsewhere on this website there is information on ECG Members policies and practices with regard to the Environment and on those projects classified by Members as Category A and Category B.
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