Continuing the efforts in the OECD Group on Export Credits and Credit Guarantees to establish approaches for taking environmental factors into account when providing official export credit support, the Members:
desire to conserve and enhance the environment, and to encourage consideration of the environmental impact of projects in buyers' countries;
welcome the role that OECD exports can play in diffusing environmentally beneficial technology and know-how to buyers' countries;
respect the sovereign right of buyers' countries to make decisions regarding the impact and benefits of projects within their jurisdiction, and to enforce environmental regulations and standards;
recognise the benefits of working in partnership with exporters, financial institutions and buyers' countries;
acknowledge the need for OECD exporters not to be placed in an adverse position vis a vis their competitors including non-OECD competitors; and
recognise the requirements for commercial confidentiality.
While these principles are an important step, the Group recognises the desirability of strengthening environmental considerations in risk assessment practices of export credit agencies, acknowledging the differences in national systems of official export credit support. In this regard, Members express their willingness to share information on the application of these practices and principles to relevant projects.