The publication sheds light on the critical role played by export credit agencies, like Italy’s SACE, in the energy sector. While being Europe’s biggest public financier of fossil fuels, in 2022 and 2023 SACE did not make any progress towards more alignment with the Paris Climate Agreement. SACE still holds a score of only 0.22/3.00 points (as assessed by Perspectives one year ago), while Italy (and thus SACE) has been found to be the biggest ‘promise breaker’ among Clean Energy Transition Partnership signatories.

The policy brief, authored by Max Schmidt, Dario Brescia, Igor Shishlov and Yuliya Romanyuk, provides background, insights, and recommendations to reform SACE. It identifies key national and international factors and stakeholders that can be instrumental in supporting SACE’s alignment with the Paris Agreement.