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M2 PRESSWIRE : October 22, 2002

Good business and green business can go hand-in-hand, stresses ECGD Chief Executive EUROPEAN environmental experts today heard how the UK's Export Credits Guarantee Department (ECGD) is taking a tough stance on the environmental and social impacts of projects it supports.

ECGD Chief Executive Vivian Brown, in a speech on the 'Greening of Export Credit Agencies' delivered to the Euro Environment 2002 conference in Denmark today (21 October), emphasised the importance the UK 's Export Credit Agency (ECA) places on environmental and social assessments in deciding whether or not to take part in projects.

But he stressed that making sure projects had suitable green credentials did not mean sacrificing good financial sense.

Mr Brown said: "Projects that take full account of environmental and social issues in their design and operation are less likely to fail than those that ignore them. So a green project, in its widest sense, may well help an ECA achieve its financial objectives.

"Controversy around projects adds to costs. It is in the interest of exporters and ECAs to address that as a business issue," he added.

Mr Brown highlighted a number of changes at ECGD that have put it at the forefront of Export Credit Agencies in the drive to acknowledge concerns over the wider impact of projects it supports.

Key developments have included:

- Taking a leading role in brokering the historic 'Common Approaches on the Environment' among most OECD member states' ECAs last year

- Introducing tougher procedures to measure and report on the environmental and other impacts of projects

- Appointing specialist staff to assess these reports and strengthen the Department's environmental assessment capability

- Actively encouraging exporters to think of ways in which social and environmental impacts can be minimised

ECGD is currently analysing its procedures for screening and assessing applications with a view to make them both more streamlined and more effective. A consultation period with customers and other interested parties came to an end in August, with resulting changes expected early next year.

Notes to Editors

1. ECGD, the Export Credits Guarantee Department, is the UK's export credit agency. We are a separate Government Department reporting to the Secretary of State for Trade and Industry. We have more than 80 years' experience of working closely with exporters, project sponsors, banks and buyers to help UK exporters of capital equipment and project-related goods and services. We do this by providing:

- Insurance against non-payment to UK exporters, and

- Help in arranging finance packages for buyers of UK goods by guaranteeing bank loans, and

- Overseas Investment Insurance - a facility that gives UK investors up to 15 years' insurance against political risks.

2. For more information on the Conference, please see www.euro- environment.dk.

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