Since January 2021 Perspectives Climate Research (PCR) has been developing a tailor-made Paris alignment methodology for Export Credit Agencies (ECAs). This new methodology as well as a case study application on the German ECA Euler Hermes, will be presented in a public webinar held on July 8th at 2:00pm CEST. PCR will publicize both studies two days prior to the event – then accessible here.
“Export finance system remains one of the ‘blind spots’ in the climate policy debates. Given the urgency of redirecting financial flows away from fossil fuels and into low carbon activities – as highlighted by the latest Net Zero report from the IEA – it is high time that governments reform their export credit agencies and fully align them with the Paris Agreement. To this end, our methodology can serve as a practical tool to assess national export finance systems and identify gaps in Paris alignment that the governments have to address immediately”, says Igor Shishlov, Senior Consultant at Perspectives Climate Group.
“The prosperity of major G20 economies largely builds on export-driven growth and international trade. Safely achieving the objectives of the Paris Agreement requires nothing less than a structural transformation of these globally integrated value chains – often out of sight of increasingly ambitious domestic climate policy. Our methodology identifies shortcomings and best practices in publicly-supported national export finance systems which can guide governments to steer their national companies in the right direction – away from fossil fuels and towards sustainable activities”, says Philipp Censkowsky, Consultant at Perspectives Climate Group.
The press release can be found here.