CORE believes that any proposals to make changes to the Secretary of State’s powers under the Export and Investment Guarantee Act 1991 (as amended) should fully reflect the Environmental, Social and Human Rights dimension of UK Export Finance’s (UKEF) activities. This is clearly not the case with the proposals that are the subject of this consultation. The proposed revisions make no reference to human rights or the environment. There is a sweeping assumption that if UKEF’s operations remain ‘subject to applicable EU laws and regulations (including those relating to State aid) and international agreements which apply to national export credit agencies’, there is no need for the Secretary of State’s powers to address the social and environmental context of UKEF’s operations. CORE rejects this approach as it is regressive and reinforces UKEF’s existing deficiencies in this area.