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26 Nov 2019

Euler Hermes

Response by Euler Hermes

Business & Human Rights Resource Centre invited Euler Hermes to respond to the concerns raised. Euler Hermes sent the following response:

Please note that export credit guarantees do not cover foreign projects or companies, but rather German goods or services that are being exported abroad. In the case in question, a guarantee was provided to the financing bank to offer protection against a payment default. 

In general, environmental, social and human right aspects play a critical role in our due diligence process. The ABK Cesme Wind Park was screened, classified, reviewed and evaluated according to the OECD Council’s Recommendation on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (the “Common Approaches”), which serves as a framework for the environmental and social due diligence process followed by export credit agencies around the world.

Based on the information available to us at the time, the project was assigned a category of B. The complaints that have been made against the project are being taken very seriously and are being reviewed and considered internally. We are in frequent communication with the bank and project company in this regard.