Launched in 2022, the Climate Working Group will advance the Berne Union Membership’s thought leadership and practices within export credit, trade finance and political risk insurance and contribute to global problem-solving around climate challenges and sustainable development.
The Group will leverage its diverse expertise and global network to encourage the development of innovative products, incentives, and financing opportunities; to promote alignment around low-carbon methodologies; and to foster greater collaboration across the financial sector.
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The CWG is currently focusing on three main workstreams:
Within each workstream we will work on a set of deliverables which will help to advance thinking thinking around the topic by sharing information, showcasing best practice or creating new tools and references.
Our work aims to be complimentary to existing initiatives as well as practical and inclusive to organisations at all stages of their climate development.
CLIMATE RESOURCE LIBRARY
As well as sharing all resources directly created by the CWG, we will use this page to catalogue and link a library of resources relating to climate and low-carbon transition relevant for export credit and international finance. This includes e.g. ▪ research papers ▪ climate policy examples ▪ sample reports (TCFD reporting, etc.) ▪ technical frameworks / methodology outlines ▪ other relevant initiatives and groups.
CWG Strategy and Call Summaries
Documents Produced by the Climate Working Group
Including meeting summaries and strategy documents
|CWG Summary of Call on 06.09.22.pdf||Summary of discussion during the CWG call on 6 Sept 2022|
|CWG Summary of Call on 18.07.22.pdf||Summary of discussion during the CWG call on 18 July 2022|
|CWG Summary of Call on 21.06.22.pdf||Summary of discussion during the CWG call on 21 June 2022|
|CWG Summary of Call on 24.05.22||Summary of discussion during the sixth CWG call on 24 May 2022|
|CWG Summary of Call on 03.05.22||Summary of discussion during the fifth CWG call on 3 May 2022|
|CWG Summary of Call on 05.04.22||Summary of discussion during the fourth CWG call on 3 May 2022|
|ICC SWG presentation to the BU CWG||Update from ICC on developments within the sustainability working group|
|CWG Workplan Outline||Slides from our fourth call on 5th April 2022|
|CWG Summary of Call on 22.03.22||Summary of discussion during the third CWG call on 22nd March 2022|
|CWG Summary of Call on 22.02.22||Summary of discussion during the second CWG call on 22nd Feb 2022|
|CWG Workplan Formulation||Slides from our second call on 22nd February 2022|
|CWG Summary of Call on 03.02.22||Summary of the discussions during the CWG kick-off call on 3rd February 2022|
|CWG Establishing||Slides from the kick-off call on 3rd February 2022|
Research, White Papers and Surveys
Below are research and white papers on the topics of climate policy, net zero or low-carbon transition and broader environmental sustainability in export credit and investment insurance.
|Oxford, IfTI, Newcastle latest joint publication "Export Finance and the Green Transition“ in Global Policy||Focus on EXIM and ECA strategic directions, current climate finance flows, future requirements, challenges and portfolio implications|
|ICC Sustainability in Export Finance White Paper Update||ICC White Paper progress scorecard template|
|ICC Sustainability in Export Finance White Paper (Short Version)||Short version of the ICC Sustainability White Paper - Published June 2022|
|ICC Sustainability in Export Finance White Paper||ICC White Paper published in September 2021: Baseline of current practice and policy / product recommendations targeting an increase in flows of sustainable export finance|
|OECD Survey on on climate and sustainability practices and policies||Responses to the Survey from 16th December 2021, published by the OECD Working Party on Export Credits and Credit Guarantees|
|Towards Net Zero Export Credit - Oxford University||This report describes the decarbonization transformation and considers its implications for ECAs|
|Integrity through Alignment: A 2022 Roadmap for Global Standards and Market-led Approaches in Sustainable Finance (IIF)||a roadmap for public-private collaboration in: Disclosure; Climate and ESG data and ratings; Classification / taxonomies; Scenario-based Climate Risk Measurement; Regulatory Capital; and Net Zero Alignment and Transition Plans|
Climate Policy Examples and Approaches
Below are links to climate policies shared by working group members, as well as background on the approach behind these. Want to add your policy? please contact us.
|EDC Climate Policy||Principles and commitments which guide EDC’s approach to climate change-related risks and opportunities|
|Background to EDC Net Zero Commitment||Steps, considerations and decisions along the path to net zero by 2050|
|IDFC Operationalization Framework on Aligning with the Paris Agreement||A study with proposals for implementation of each of the 6 principles for alignment endorsed by IDFC|
|Strategic Alignment with the Paris Agreement||A study demonstrating the 3 levels of alignment for PDBs : level strategic, operational and governance|
|World Bank Climate Change Action Plan||The Climate Change Action Plan 2021–2025 aims to advance the climate change aspects of the WBG’s Green, Resilient, and Inclusive Development (GRID) approach|
|UKEF Climate Policy||UKEF Climate Change Strategy 2021 - 2024|
|UKEF E&S Policy||UK Export Finance Environmental Social and Human Rights Policy|
Sample Reports (TCFD, sector transition etc.)
Below are examples of climate reporting, including for TCFD (Task Force on Climate-Related Financial Disclosures) reports.
|Investec Climate Report 2022||Climate-related financial disclosures 2022|
|E3F Transparency Report||E3F Transparency Report on energy sector commitments - published May 2022|
|UKEF TCFD Report 2021/22||UKEF’s TCFD report for the financial year 21/22 p. 97 onwards|
|EDC TCFD 2020 Report||Example of EDC's 2020 TCFD Report|
|UKEF TCFD Report 2020/21||UKEF's first TCFD report (pp 137-144)|
Technical Framework / Methodology
Methodologies for Assessing, Mitigating, Accounting, Reporting
Documents outlining technical approaches to incorporating climate-related targets and policies within business processes for assessing, mitigating, tracking and reporting.
|Transaction Climate Change Due Diligence||EDC's due diligence framework for climate change|
|EDC ESG Framework||Outline of general ESG principles and practice followed by EDC|
|IDFC / MDB Common Principles for Climate Mitigation Finance Tracking||Common principles for tracking mitigation climate finance, updated in 2021, by IDFC and MDBs|
|IDFC / MDB Common Principles for Climate Change Adaptation Finance Tracking||Common principles for tracking adaptation climate finance, endorsed by IDFC and MDBs|
Common ESG Principles and Standards
Common Principles for ESG and Green Finance, Investment and Insurance
Below are links to some of the main principles and frameworks applied by many ECAs, insurers, lenders and investors. Note that a comprehensive summary taxonomies, standards and reporting frameworks relevant to export finance is included in the ICC White Paper on Sustainability in Export Finance
|UNEP FI Principles for Sustainable Insurance||Launched at the 2012 UN Conference on Sustainable Development, the UNEP FI Principles for Sustainable Insurance serve as a global framework for the insurance industry to address environmental, social and governance risks and opportunities|
|PSI ESG Guide for Non-Life Insurance||ESG guide for the global insurance industry developed by UN Environment Programme’s Principles for Sustainable Insurance Initiative|
|IAIS Application Paper on the Supervision of Climate-related Risks in the Insurance Sector||Published in May 2021 by the The International Association of Insurance Supervisors|
|Equator Principles||Financial industry benchmark for determining and assessing and management environmental and social risk in projects|
|ICMA Green Bond Principles||The Green Bond Principles (GBP) seek to support issuers in financing environmentally sound and sustainable projects that foster a net-zero emissions economy and protect the environment.|
|IFC Performance Standards on Environmental and Social Sustainability||commonly applied standards for assessing ESG of projects|
|LMA Green Loan Principles||high-level framework of market standards and guidelines, providing a consistent methodology for use across the green loan market|
|OECD 'Common Approaches'||Common approaches for officially supported export credits and environmental and social due diligence|
Other Climate Initiatives
Climate Commitments and Approaches of Other Groups
The table below includes links to documents and resources mapping the current state of play, ambitions and achievements of other organisations, collectives and initiatives within international finance. This includes the Finance in Common Summit of Public Development Banks (FiCS), International Development Finance Club (IDFC), Glasgow Financial Alliance for Net Zero (GFANZ) and European Development Finance Institutions (EDFI)
Other BU Climate Resources
Other Berne Union Resources Relating to Climate
These include outputs from other initiatives: The Capacity Sharing Marketplace - outreach to development institutions; Sustainability Meetings with commercial banks and Berne Union publications
|Capacity Sharing Marketplace Workshop on Climate||Online workshop hosted by the BU in June 2021 on best practice and common roadblocks to cooperative climate finance|
|Sustainability Meeting||Documents from the BU-ICC Sustainability Meeting in 2019|
|BUlletin: Summer 2021 on Climate Approaches||Collection of articles outlining approaches to climate among BU Members and Others|
The institutions and individuals contributing to this work include experts from a range of disciplines across climate, ESG, sustainability; risk underwriting; policy and international relations, representing export credit agencies, multilateral investment insurers, development institutions, commercial banks and private insurance companies.
The CWG is chaired by Leah Gilbert Morris, Director of ECA and International Relations at Export Development Canada (EDC), and administrated by the Berne Union Secretariat.
Full details and bios of all participants below.
CHAIR (Leah Gilbert Morris, EDC)
SECRETARIAT (Eve Hall, Paul Heaney)
AFD (Adama Mariko, Mathilde Bord-Laurans, Charlotte-Fleur Cristofari)
ATI (Clement Yapo)
AXA XL (Simon Morden)
BPIFRANCE (Maëlia Dufour, Elsa Pancek, Mathilde Moreau)
DZ BANK (Ralph Lerch)
EDC (DJ Kim)
EKN (Karin Wessman)
INVESTEC (Chris Mitman)
MIGA (Olga Sclovscaia)
UKEF (Helen Meekings)
DFC (Marlena Hurley)
MORE INFO AND CONTACT
For more information or enquiries about the CWG, please email:
Eve Hall at the Berne Union Secretariat