Perspectives Climate Research again utilized their own methodology to assess and compare SACE the official Italian Export Credit Agency (ECA), for its alignment with the Paris Agreement.

Overall, SACE was rated ‘Unaligned’ and therefore urgently needs to speed up the progress towards aligning its activities with the Paris Agreement (assessment score 0.22/3.00).

The study explores the main reasons for this score such as the lack of fossil fuel exclusion policies in line with the 1.5° C objective of the Paris Agreement, SACE´s portfolio showing a significant exposure to the oil and gas sectors, and SACE exhibiting the largest volumes of annual support for fossil fuel value chains when compared to other E3F members (EUR 8.4 billion, 2015-2020).

Furthermore, the study found that SACE currently reports operational greenhouse gas (GHG) emissions (Scope 1 and 2) as well as business travel emissions. However, no reporting on financed emissions is provided (Scope 3) which likely represent the largest emissions category.