MISSION


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.


LATEST NEWS


Connect with us on LinkedIn!

Join our new community page for climate action in export credit 


WORKSTREAMS


The CWG is currently focusing on three main workstreams:

Climate Products, Incentives and Innovation

Profiling innovations in product offerings, advisory services, treasury, blended finance etc.

Best Practices in Low-Carbon Transition

Sharing knowledge and learning: target-setting, SBTs, reporting, portfolio accounting, etc.

Policy Coherence & Alignment

Examining material global policy developments directly/indirectly impacting export credit

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.


RESOURCES


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

Documents Produced by the Climate Working Group
Including meeting summaries and strategy documents 

DOCUMENT DESCRIPTION
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

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.

DOCUMENT DESCRIPTION
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

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.

DOCUMENT DESCRIPTION
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 etc.)

Sample Reports
Below are examples of climate reporting, including for TCFD (Task Force on Climate-Related Financial Disclosures) reports.

DOCUMENT DESCRIPTION
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 Outlines (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.

DOCUMENT DESCRIPTION
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 

DOCUMENT DESCRIPTION
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)

DOCUMENT DESCRIPTION
Finance in Common Joint Declaration of Public Development Banks The Finance in Common Summit focuses on how PDBs can influence the global financial system to better protect our planet and our societies.
European Commission Statement on Sustainable Finance From October 2021
EDFI (European DFIs) Statement on Alignment with the Paris Agreement From November 2020
Adaptation & Resilience Investors Collaborative (DFIs) From November 2021
Financing the 2030 Agenda: An SDG alignment framework for Public Development Banks European Think Tanks Group - From October 2021
Mapping Public Development Banks From October 2021
IDFC Green Finance Mapping Report From November 2021
IDFC State of Ambition on Climate 2022 From November 2021
IDFC 10 Years of Action report 2011 - 2021
GFANZ - Progress and plan towards a net zero global economy GFANZ - Glasgow Financial Alliance for Net Zero - from November 2021
MDB Climate Finance Joint Report 2020 Overview of Methodologies and report on climate finance provided by MDBs


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

DOCUMENT DESCRIPTION
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



CONTRIBUTORS


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)

Leah Gilbert Morris

Director, International and ECA Relations, EXPORT DEVELOPMENT CANADA

An environmental scientist by education, Leah has more than two decades of export credit and international trade finance experience, and a strong environmental, social and governance (ESG) background. She has led the Canadian delegation for export credit to the OECD and IWG and served a four-year term as a Vice-Chair of the OECD Export Credit Bureau and as Chair of the OECD Environmental and Social Practitioners' working group. She presently leads EDC’s International & ECA Relations team and she has also served in two multilateral DFIs, Canada's commercial banking sector and the Canadian Department of Finance.

SECRETARIAT (Paul Heaney, Didem Bayseferogullari)

Paul Heaney

Associate Director, BERNE UNION SECRETARIAT

Paul has over a decade of experience working on all aspects of strategic communications, media, PR and stakeholder engagement within international finance. He manages Berne Union research, publications and outreach to external stakeholders, including through the 'Capacity Sharing Marketplace' initiative.

Didem Bayseferogullari

ECA Committee Manager, BERNE UNION SECRETARIAT

Didem joined the Berne Union Secretariat in March 2021 with the primary responsibility for managing the ECA Committee. She has 4 years of experience mainly in Buyer Credits under both sovereign and bank guarantee, having previously worked as a Specialist in Turk Eximbank.

AFD  (Adama Mariko, Mathilde Bord-Laurans, Charlotte-Fleur Cristofari)

Adama Mariko

Adjoint Directeur Exécutif Stratégie, Partenariats et Communication, AGENCE FRANÇAISE DE DÉVELOPPEMENT& Secretary General, FINANCE IN COMMON

Prior to FiCS in 2021, Adama was AFD’s Management Board member in charge of financial planning. Adama joined AFD in 2009. He has worked in West Africa, in the Indian Ocean, and in both the Finance and Risk departments at Paris headquarter. Recently appointed Deputy Director for Strategy, Partnerships and Communication of AFD, Adama joined FICS as Secretary General. Adama graduated in Finance from Paris-Dauphine and holds a Master in Public Administration from Ecole Nationale d'Administration.

Mathilde Bord-Laurans

Head of Climate Change Department, AGENCE FRANÇAISE DE DÉVELOPPEMENT

Charlotte-Fleur Cristofari

Climate Strategy / Finance in Common Summit, AGENCE FRANÇAISE DE DÉVELOPPEMENT

ATI (Clement Yapo)

Clement Yapo

Senior ESG Officer, AFRICAN TRADE INSURANCE AGENCY

Clement is an Ivorian national who have been working in environmental and social field for more than 20 years, supporting companies within Africa to mitigate negative E&S impacts. Since March 2021, he joined the headquarters of the African Trade Insurance Agency (ATI) in Nairobi as Senior ESG Officer.

AXA XL (Simon Morden)

Simon Morden

Senior Underwriter, Global Political Risk, Credit & Bond, AXA XL

Simon is a Senior Underwriter in the Political and Credit Risk team at AXA XL, a division of AXA Group. He joined in 2018 and prior to which he had a 21 year banking career, 15 years of which were in Loan Syndications including a 5 year period in Abu Dhabi. Simon has worked for SCB, GIB, SMBCE and FAB during his banking career.

BPIFRANCE (Maëlia Dufour, Elsa Pancek, Mathilde Moreau)

Maëlia Dufour

Director International Relations, Business Development, Rating, Environment and Climate, BPIFRANCE

Maëlia has worked for the French State Export Credit Agency, for many years.
She deals with a wide range of environmental, social and climate issues along with her team of experts in that field.

Elsa Pancek

Environmental, Social and Climate Analyst, BPIFRANCE

Elsa graduated from the Université Catholique de l'Ouest with a Master's degree in Ecology and Sustainable Development and is an environmental, social and climate analyst at Bpifrance Assurance Export.

Mathilde Moreau

Junior Environmental, Social and Climate Analyst, BPIFRANCE

Currently studying for a Master's degree in finance at Neoma BS, Mathilde Moreau is a junior environmental, social and climate analyst at Bpifrance Assurance Export.

DZ BANK (Ralph Lerch)

Ralph Lerch

Head of Export Finance, DZ BANK

Ralph joined DZ BANK in May 2018 and heads a dedicated team of export finance spe-cialists covering all major ECAs. From 2013 to 2018 Ralph acted as Chair of EBF’s Export Credit Working Group. Heis a member of the ICC Export Finance Committee, the ICC Sustainability Working Group and the EulerHermes Expert Group.

EDC (Andrea Gardella, DJ Kim)

Andrea Gardella

Senior Advisor, International and ECA Relations, EXPORT DEVELOPMENT CANADA

Andrea joined EDC in 2010 and was the Principal Economist responsible for analysing global country and sector risks before becoming the Senior Advisor responsible for climate and ESG policy with International & ECA Relations. At the centre of her work is supporting EDC’s climate strategy including COP26 participation and development of a GFANZ – ECA Alliance, and review of the OECD CCSU.

Da-Jeong Kim

Advisor, Climate and ESG Policy, EXPORT DEVELOPMENT CANADA

Da-Jeong joined EDC in 2018 and is an Advisor on ESG Policy (Climate), leading EDC’s carbon accounting and climate-related disclosure. Da-Jeong holds a M.Env.Sc from the University of Toronto specialized in climate change impact assessment and a B.Sc. (Ag.Env) from McGill University. Prior to EDC, she worked in environmental field research and sustainable facilities management.

EKN (Karin Wessman)

Karin Wessman

Head of Sustainability, EKN

Karin has 20 years professional experience in the field of responsible business practices and is currently heading a team of 9 sustainability experts at EKN. Prior to joining EKN in 2013, Ms. Wessman worked as a sustainability consultant and prior to that spent nine years working for WWF, the World Wide fund for Nature.

INVESTEC (Chris Mitman)

Chris Mitman

Global Head of Export Finance, INVESTEC

Chris is Global Head of Export Finance at Investec Bank plc based in London where he founded the business in 2010. Previously he was Global Head of Export Finance at ANZ Bank based in Singapore. He is a member of the ICC Export Finance Committee and Co-Chair of the ICC Export Finance Sustainability Working Group which recently published a landmark White Paper on Sustainability in Export Finance

MIGA (Olga Sclovscaia)

Olga Sclovscaia

Regional Head Europe & Central Asia, MULTILATERAL INVESTMENT GUARANTEE AGENCY

Olga covers climate thematically in MIGA’s operations. She has co-led the formulation of MIGA’s corporate climate strategy and operationalization of the World Bank Group Climate Change Action Plan. She has led a project to understand the regulatory treatment of climate projects globally.

UKEF (Helen Meekings)

Dr. Helen Meekings

Deputy Director for Policy and Climate Change, UK EXPORT FINANCE

Helen has a background in export finance, climate, ESG/environmental and social risk management and has worked for UKEF for over 10 years. She currently leads on UKEF’s climate change strategy and Taskforce for Climate-related Financial Disclosures (TCFD) response. Helen is a chartered engineer and chartered environmentalist.

DFC (Marlena Hurley)

Marlena Hurley

Head of ECA and International Relations, U.S. INTERNATIONAL DEVELOPMENT FINANCE CORPORATION

Marlena has 10 years of experience in political risk insurance and 20 years in international development. With DFC she works on developing solutions for renewable energy and other projects supporting climate resilience and mitigation. In 2019, she co-founded the initiative with The Nature Conservancy to support Blue Bonds for Marine Conservation through political risk insurance.


MORE INFO AND CONTACT


For more information or enquiries about the CWG, please email:

Paul Heaney and Didem Bayseferogullari at the Berne Union Secretariat