OECD negotiations on export credit environment standards break down

(ECA Watch, Paris, 28 November 2006) With world attention increasingly focussed on the climate impact of energy projects, dams, resource extraction, aircraft emissions and other infrastructure projects, many of which are supported by annual official export credits of US$104 Billion, OECD ECAs have failed again to reach consensus on revisions to the OECD Recommendation on Common Approaches on Environment and Officially Supported Export Credits. Beginning in late 2005 and targeted for completion in November 2006, negotiations have been extended to early 2007, with wide differences reported remaining between OECD Members on necessary changes.