Atradius refuses cover for Vancor project in Russia

(ECA Watch, Paris, 28 Nov. 2007) At the end of August 2007, Atradius DSB announced it's intention to provide cover for the supply of 3 gas compressors for a pipeline for the Vancor oil and gas field in Russia, a Category A project under the OECD's Common Approaches. ECA Watch member Both ENDS requested a copy of the environmental information on this project prior to Atradius' eventual decision. On 29 November 2007, Atradius DSB advised Both ENDS that they did not receive sufficient environmental information and therefore had decided to drop the application for cover on environmental grounds. ECA Watch welcomes Atradius' approach to publicly announce its intention to support Category A projects soon after a first screening is done. In this way, the 30 day rule in the OECD Common Approaches for ex-ante publication of environmental information of projects with significant adverse environmental impacts is substantially strengthened. Essential and valuable time is added to the minimum period of 30 days to allow for the identification of significant environmental risks. Within the guidelines of the Common Approaches, other ECAs should take this practice of Atradius as an example..