Export credits

Agreement on Environmental Information Exchange for Larger Projects (1999)

 

AGREEMENT ON ENVIRONMENTAL INFORMATION EXCHANGE FOR LARGER PROJECTS (1999)

1. Drawing on experience to date, Members of the OECD Working Party on Export Credits and Credit Guarantees (ECG) agree to refine the case-by-case voluntary environmental information exchange by undertaking the following:

  • Export Credit Agencies (ECAs) involved in a project would ensure that all information, including any Environmental Impact Assessment (EIA) of the project, would form the basis of the voluntary environmental information exchanges.

  • All participating ECAs would receive a copy of the EIA prepared for the buyer/owner or on behalf of the owner.

  • Each ECA would then review the EIA and formulate views on environmental issues or concerns raised by the project.

  • Taking account of confidentiality concerns, ECAs involved in any environmentally sensitive project may share information, exchange views and co-ordinate their responses to exporters, lenders, borrowers and other principle parties to the project.

  • ECAs may share views on the adequacy of information available in relation to environmental and other project risks.

  • The OECD Secretariat would be informed of these exchanges, and would be able to report periodically on the experience during the information exchange period.

2. The exchanges would apply to larger multi-sourced projects, which are included in environmentally sensitive sectors (e.g., mining, power, etc.). In the event that an EIA is not available, and if the ECAs decide that an EIA is essential to the environmental evaluation of the project, the ECAs would require the project sponsors to bear the cost of an EIA along with any other independent reports necessary for risk assessment purposes.

 

 

 

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