Commentary: Export credit agencies should promote responsible business practices by adhering to the OECD Guidelines

Author: Roel Nieuwenkamp, Chair of OECD Working Party on Responsible Business Conduct, on Institute for Human Rights and Business, Published on: 19 January 2016

"Evolving Expectations: The role of Export Credit Agencies in promoting and exemplifying responsible business practices", 11 Jan 2016

Export Credit Agencies are a significant source of global financing and insurance…Given the prevalence of ECA financing, as well as its importance for…projects…prone to significant social and environmental impacts, it is important to ensure that responsible business conduct, as recommended by the OECD Guidelines for Multinational Enterprises…is viewed as a priority among ECAs…The…grievance mechanism that is attached to the…OECD Guidelines…National Contact Points (NCPs), exists in 46 countries. National Contact Points are agencies tasked with promoting the Guidelines and considering issues…arising from alleged non-adherence to recommendations…NCP system received a complaint alleging that Dutch export credit agency, Atradius DSB, had failed to comply with the OECD Guidelines…The…outcome…is that Atradius DSB itself is considered to be a multinational enterprise and consequently is covered by the OECD Guidelines and the NCP system…[T]he outcome of the complaint may serve to make clear how ECAs should promote the OECD Guidelines amongst their clients…

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Related companies: Atradius