2012 Sector Understanding on Export Credits for Climate Change Mitigation, Renewable Energies and Water Projects (the "CCSU") has been agreed by the Participants to the Arrangement on Officially Supported Export Credits as a replacement to Annex IV of the Arrangement on Officially Supported Export Credits (the 2009 Sector Understanding): it becomes effective from 28 June 2012. The CCSU upgrades the prevailing export credits disciplines by reaching three policy objectives:
- offering suitable financial terms and conditions (tenors up to 18 years) for the support of export projects in areas where the demand tends to increase rapidly, whether in water projects, renewable energy projects, or climate change mitigation projects.
- favouring, whenever possible, greener energy sources such as renewable (solar, wind, biomass, hydro power) whilst keeping stricter financial terms and conditions to fossil-fuelled power projects.
- including a mechanism to incorporate over time new, ground-breaking emerging technologies into the scope of the CCSU.
2009 Sector Understanding: This is the 2009 Sector Understanding on Export Credits for Renewable Energies and Water Projects, which is Annex IV to the Arrangement on Officially Supported Export Credits and which is effective from 1 July 2009.
Financing climate change action portal: The OECD works with governments to promote good practice to scale up and better target public and private finance to support climate-friendly investment
Climate finance :