(ECA Watch, 28 May 2012) At their session on April 16/17, after almost 2 years of negotiations, the ECG of the OECD adopted a new version of the 2007 Common Approaches on the Environment and Officially Supported Export Credits. The text apparently references the UN Guiding Principles on Business and Human Rights and ILO core conventions. World Bank safeguard policies and IFC performance standards will remain benchmarks (performance standards apparently becoming mandatory for project finance). The ECA’s experts will intensify their exchange on project related human rights assessments and elaborate recommendations to the ECG. The new text must be adopted by the OECD Council before publication, which may happen toward the end of June.
