# Export Credit Agencies: Paris alignment of export credit agencies and public export finance

Published by Perspectives Climate Group. Canonical page: https://perspectives.cc/initiatives/eca/

Perspectives Climate Research developed the first dedicated Paris alignment methodology for export credit agencies, assessing and comparing ECAs and their governments across five weighted dimensions. Country case studies across the OECD feed policy discussions on reforming the export finance system, internationally and at national level.

- Active since: 2021
- Field: Climate Finance
- Participants: Export finance policymakers, researchers and civil society

## Overview

Export credit agencies (ECAs) are government-backed agencies that provide financing for the export of goods and services of national companies. They are the single largest group of internationally active public finance institutions supporting fossil fuel investments, and they remain an under-researched contributor to the lock-in of fossil fuel infrastructure. Reformed, they could play a decisive role in financing the global energy transition.

## Aims

- Streamlined climate impact assessment: The team has developed a transparent methodology to assess and compare individual export credit agencies and their governments on their alignment with climate commitments of the Paris Agreement.
- Country-by-country evidence: Case studies on ECAs in OECD countries and China show where export finance stands regarding climate policies and document best practice.
- Reform of the export finance system: Our analyses feed into policy discussions at the OECD, international initiatives like Export Finance for Future (E3F) and within national ECA policies and aim at fully aligning export finance with international climate commitments.

## Goal & vision

Official export finance support to fossil fuels is not compatible with the Paris Agreement, and it remains a major barrier to the global transition towards a clean energy system. Perspectives' research identifies the remaining gaps in the Paris alignment of export finance and puts policy recommendations to export credit agencies around the world, their respective governments and civil society. Those recommendations feed the reform processes now under way at the national and international level.

## Perspectives' Paris alignment methodology for ECAs

Following an initial study on external and internal climate change policies for export credit and insurance agencies, in 2021 Perspectives Climate Research developed the first dedicated Paris alignment methodology for ECAs. The methodology permits the assessment and comparison of individual ECAs and their respective governments across five weighted dimensions underpinned by a total of 72 benchmark criteria: Transparency (financial and non-financial disclosures, 20%); Mitigation I (ambition of fossil fuel exclusion or restriction policies, 40%); Mitigation II (climate impact of and emission reduction targets for all activities, 20%); Climate finance (positive contribution to the global climate transition, 10%); and Engagement (outreach and pro-activeness of the ECA and its governments, 10%).

## Key publications

- 05/2026, [The hidden role of export credit in the energy transition](https://theconversation.com/the-hidden-role-of-export-credit-in-the-energy-transition-282738)
- 03/2026, [Bridging aid and trade: Exploring synergies between Swedish climate-related development and export finance](https://perspectives.cc/work/publications/bridging-aid-and-trade-exploring-synergies-between-swedish-climate-24442/)
- 11/2025, [How can export finance and investment treaties support climate investments? Insights from Angola](https://perspectives.cc/work/publications/how-can-export-finance-and-investment-treaties-support-climate-23864/)
- 11/2025, [Fuelling carbon lock-ins in Mozambique: The role of export finance and investment protection](https://perspectives.cc/work/publications/fuelling-carbon-lock-ins-in-mozambique-the-role-of-export-finance-and-23869/)
- 09/2025, [Overcoming carbon lock-in: Rethinking Export Finance and Investment Law in Africa's Energy Landscape](https://perspectives.cc/work/publications/overcoming-carbon-lock-in-rethinking-export-finance-and-investment-22677/)
- 05/2025, [Greening Chinese export finance: opportunities and ways forward](https://perspectives.cc/wp-content/uploads/2025/05/Greening-Chinese-export-finance_opportunities-and-ways-forward-policy-brief.pdf)
- 04/2025, [Alignment of China's Energy Sector Export Finance with the Paris Climate Agreement](https://perspectives.cc/work/publications/alignment-of-chinas-energysector-export-finance-withthe-paris-climate-21643/)
- 02/2025, [How can Chinese Export Finance Institutions accelerate and lead in clean energy finance? (English)](https://perspectives.cc/wp-content/uploads/2025/02/ECA_How-can-Chinese-Export-Finance-Institutions-accelerate-and-lead-in-clean-energy-finance_21.12.25.pdf)
- 02/2025, [How can Chinese Export Finance Institutions accelerate and lead in clean energy finance? (Chinese)](https://mgflab.nsd.pku.edu.cn/docs//2025-02/5f2040a51ba84185b2c5d27adecf9b14.pdf)
- 01/2025, [Quantifying the shift of public export finance from fossil fuels to renewable energy](https://www.nature.com/articles/s41467-025-55981-0)
- 11/2024, [Paris Alignment of Export Credit Agencies: Best Practice Guide](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-best-practice-guide/)
- 10/2024, [Paris Alignment of ECAs: Denmark](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-denmark/)
- 08/2024, [Paris Alignment of ECAs: Finland](https://norden.diva-portal.org/smash/get/diva2:1888972/FULLTEXT01.pdf)
- 08/2024, [Paris Alignment of ECAs: Sweden](https://pub.norden.org/temanord2024-536/temanord2024-536.pdf)
- 01/2024, [How can SACE progress towards Alignment with the Paris Climate Agreement?](https://perspectives.cc/work/publications/how-can-sace-progress-towards-alignment-with-the-paris-climate-17161/)
- 10/2023, [Alignment of US EXIM with the US climate and development policy](https://perspectives.cc/work/publications/alignment-of-the-united-states-export-import-bank-us-exim-with-the-us-15227/)
- 05/2023, [Paris Alignment of ECAs: South Korea (K-Sure and KEXIM)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-south-korea-the-korea-trade-15238/)
- 03/2023, [Paris Alignment of ECAs: France (Bpifrance Assurance Export)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-france-bpifrance-assurance-15239/)
- 01/2023, [Paris Alignment of ECAs: Italy (SACE)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-italy-sace/)
- 11/2022, [Paris Alignment of ECAs: The United States (EXIM)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-usa-exim/)
- 04/2022, [Greening UK Export Finance](https://www.brightblue.org.uk/wp-content/uploads/2023/03/Greening-UK-Export-Finance.pdf)
- 02/2022, [Paris Alignment of ECAs: Canada (Export Development Canada)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-canada-export-development-15302/)
- 10/2021, [Paris Alignment of ECAs: Japan (NEXI and JBIC)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-japan-nexi-and-jbic/)
- 10/2021, [Paris Alignment of ECAs: The Netherlands (Atradius DSB)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-the-netherlands-atradius-dsb/)
- 09/2021, [Paris Alignment of ECAs: Germany (Euler Hermes)](https://perspectives.cc/work/publications/paris-alignment-of-export-credit-agencies-the-case-of-germany-euler-15344/)
- 09/2021, [Aligning Export Credit Agencies with the Paris Agreement](https://perspectives.cc/work/publications/aligning-export-credit-agencies-with-the-paris-agreement/)
- 03/2020, [External and internal climate change policies for export credit and insurance agencies](https://perspectives.cc/work/publications/study-on-external-and-internal-climate-change-policies-for-export-15404/)

## Team

- [Max Schmidt](https://perspectives.cc/people/max-schmidt/)
- [Igor Shishlov](https://perspectives.cc/people/igor-shishlov/)

Cite this page as: Perspectives Climate Group. Export Credit Agencies: Paris alignment of export credit agencies and public export finance. Available at: https://perspectives.cc/initiatives/eca/