The paper will review the state of sustainable finance in the export finance industry and offer product and policy recommendations to increase the flow of export finance to sustainable business.
Sustainability is an increasingly important topic for a wide range of public and private actors around the world, in both developed and emerging markets. This flagship project, organized by the ICC Global Export Finance Committee and supported by the 16 banks of the ICC Global Export Finance Committee and The Rockefeller Foundationaims to engage the industry in a conversation about how the export finance community aims to collectively contribute to the global sustainability agenda and deliver greater volumes of sustainable export finance.
Andrew Wilson, ICC Permanent Observer to the United Nations, said: “A key objective of the Committee and Task Force is to increase the proportion of industry volumes supporting sustainable activity beyond the current average. by 20%. This report will mark an important step towards realizing this ambition, an opportunity to take stock of the industry and establish the requirements to meet the sustainability imperative.
Paul Richards, Head of Structured Export Finance at ANZ and Co-Chair of the ICC-SWG, said: “The committee and the working group are very pleased to take this important step in understanding how the export finance market can play a greater role and raise its profile as a key contributor to the sustainability agenda, and we look forward to working with all stakeholders to develop a clear and deliverable plan.
Chris Mitman, Head of Export Finance at Investec Bank plc and Co-Chair of the ICC-SWG, said: “The commissioning of this white paper represents a historic collective industry response to the challenge of sustainability and the important role that export financing can come into play in emergency situations. achievement of the sustainable development program.
Adam Connacker of the Rockefeller Foundation said, “We must deploy all the tools at our disposal to create a more sustainable, just and equitable world. The Committee and Task Force have aptly highlighted the promise of an overlooked tool – international export financing – to help achieve this goal.
The ICC-SWG was established in 2018 with the aim of promoting discussion and exploring the possibility for the export finance industry to be more proactive in supporting the global sustainability agenda. Export finance is ideally suited to financing sustainable infrastructure and investments, building on many existing best practices of arranging banks and export credit agencies (ECAs).
The 16 banks of the ICC Global Export Finance Committee are:
- Santander Bank, SA
- BNP Paribas
- Commerzbank AG
- Credit Agricole CIB
- Deutsche Bank AG
- DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main
- ING Bank
- Investec Bank
- JP Morgan
- MUFG Bank, Ltd.
- Standard charter
- Sumitomo Mitsui Banking Corporation
- UniCredit SpA
The whitepaper is expected to be released in June 2021. Grab this investigation now to give your perspective on the export credit and trade finance market.