News / 13 September 2011

European legislation forces export credit agencies to be more transparent

With an overwhelming majority - 643 votes in favour, 20 against and 9 abstentions - a new law, which forces European export credit agencies (ECAs) to be more transparent about the environmental and social effects of transactions supported by ECAs, has just been approved of in the European Parliament. As of next year, all ECAs will have to deliver a report about this to the European Commission and the European Parliament on a yearly basis.
Both ENDS is a member of the ECA-Watch network, which monitors ECAs and stimulates more transparent, sustainable and socially just ECA-supported transactions. Clearly we are very pleased with the current developments and we hope that this will be a first step towards greener and fairer investment policies in the EU.


For more information about the vote you might read our press release (in Dutch)

See website ECA-Watch for more information on ECAs and on the recent developments.

Or read the press release of the European Parliament (only in French).


photo: Uitdragerij

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