Export Credit Agencies

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.

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%).