ECAs are still contributing to the planetary crisis
ECAs are collectively among the largest sources of public finance to carbon-emitting projects. Most ECAs still support polluting power plants, oil pipelines, mining, large hydroelectric dams, road development in protected forests, chemical facilities, and carbon credits' plantation schemes, just to name a few examples.
ECAs in the Spotlight
Governance: Corporate Commonwealth entity, that is part of the Australian Government’s Foreign Affairs and Trade Portfolio, under the responsibility of the Minister for Trade & Tourism, and the Minister for Finance.
Mandate: Support Australian export trade and overseas infrastructure development that delivers benefits to Australia region via loans, bonds, guarantees, project & structured finance.
ECA Watch Member to contact: Jubilee Australia
Governance: Authorized agent working on behalf of the Republic of Austria, under the Federal Ministry of Finance.
Mandate: Covers Austrian exporters abroad against commercial and political risks by offering and processing export guarantees. Usually, 50% Austrian added value is required to secure business support.
Governance: Credendo is a European group with several subsidiaries, including the official Belgian’s Export Credit Agency.
Mandate: Promote international trade relations, providing all segments of trade credit and political risk insurance, including customised solutions of insurance, reinsurance, guarantees, bonding and financing related to trade transactions or investments abroad.
Governance: State-funded and state-owned policy bank with the status of an independent legal entity and under the leadership of the State Council. Branches in China, Hong Kong and overseas (Africa, France, Russia, Poland, Chile, and Uzbekistan).
Mandate: Supporting China’s national development strategies, foreign trade, investment, and international economic cooperation via loans, bonds, guarantees, and advisory services.
Governance: State-funded, state-owned and policy-oriented insurance company.
Mandate: Promotes foreign trade and investment by providing credit insurance, overseas investment insurance, and credit risk assessment services to Chinese companies.
Governance: State-owned financial institution, under supervision of the Danish Minister for Industry, Business and Financial Affairs.
Mandate: Offers long-term financial solutions for Danish companies and their foreign customers, as well as investments in startups and funds focused on innovation and technology.
ECA Watch Member to contact: ActionAid Denmark
EU begins rollout of export credit scheme for Ukraine, approves €20M cover for EIFO
Governance: In 2017, the French ECA, Coface, transferred all its activities to Bpifrance Assurance Export, a subsidiary of Bpifrance, which manages public export guarantees on behalf and under the control of the French Government.
Mandate: Facilitate French companies’ export capacity by supporting the prospecting of foreign markets, issuing of bonds, granting pre-financing by banks, securing exports and investments abroad.
ECA Watch Member to contact: Les Amis de la Terre France
Governance: State-owned specialised financing company and the Export Credit Agency of Finland, under supervision of the Ministry of Economic Affairs and Employment.
Mandate: Strengthens the operating potential and competitiveness of Finnish enterprises by offering loans, domestic guarantees, export credit guarantees, against political or commercial risks.
Governance: Manages the German Federal Government export credit guarantee scheme, under the Federal Ministry for Economic Affairs and Climate Action. Decisions on key aspects of the scheme, such as approving large transactions or coverage policies, are made by a consensus-based Interministerial Committee.
Mandate: Protects German exporters and banks against political and commercial risks in international trade, particularly in emerging markets, via guarantees on export credit, untied loans and investments.
ECA Watch Member to contact: Urgewald
Governance: Italian Export Credit Agency and insurance & finance group controlled directly by the Ministry of the Economy and Finance.
Mandate: Support Italian companies, especially SMEs, to grow in Italy and in the global market via guidance in prospecting markets, insurance and financial services.
ECA Watch Member to contact: ReCommon
- Governance: Atradius DSB is part of the Atradius Group, though operationally independent due to its public character. It works on behalf of the Dutch government, under the Ministries of Finance and Foreign Affairs.
- Mandate: Offers exporters of capital goods, international contracting companies, banks and investors a wide range of insurance and guarantee products against risks when doing business abroad.
- ECA Watch Member to contact: Both ENDS & Millieudefensie
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Governance: Governed by the Norwegian Ministry of Trade, Industry, and Fisheries.
Mandate: Promotes Norwegian exports and companies, international buyers and their banks with state-backed loans and guarantees.
Governance: State-owned by South Korean government, which dictates its policy-oriented mandate and provides solvency guarantees.
Mandate: Provide loans and guarantees to support Korean companies conducting business overseas, and manages government-entrusted funds.
ECA Watch Member to contact: SFOºC
Governance: Commercial Risk Management company which includes the Spanish export credit agency. Owned by the Spanish government and prominent Spanish banks and insurance companies. An inter-ministerial collegiate decision-making body is responsible for the State-backed risk covers.
Mandate: Offer coverage of political risks deriving from investments abroad with the aim of supporting the internationalization of Spanish enterprises in Europe & Latin America.
Governance: Independent institution under supervision of the Federal Council which appoints the board of directors and strategic objectives.
Mandate: Supports Swiss companies to access foreign markets with insurance and guarantees.
Governance: ECA & Ministerial department
Mandate: Help companies to access working capital and government guarantees, in partnership with private sector finance providers to increase exports and international trade.
ECA Watch Member to contact: Oil Change International, The Corner House
Governance: Independent Executive Branch agency. The Office of Congressional and Intergovernmental Affairs (OCIA) is the point of contact with Congress and state/local governments.
Mandate: Support exports of US goods and services by assuming credit and country risks that the private sector is unable or unwilling to accept.
ECA Watch Member to contact: Friends of Earth US
