At SACE, analysing the environmental and social impact of projects is an integral part of the assessment process, not only for export credit, as recommended by the OECD, but for many of the insurance products developed to support corporate clients.
We classify the assessed projects into three categories according to the degree of potential environmental and social impact (A - significant, B - moderate, C - negligible) and, where the complexity of the project demands, we monitor its implementation to ensure that it complies with international standards. The environmental monitoring process is applied to most projects with a high potential impact and the level of detail is decided, on a case-by-case basis, according to the nature of the project and the result of the assessment.
Based on the OECD Recommendation, the policy for the dissemination of environmental information requires, for all assessed projects:
- ex ante disclosure, with the publication of the Environmental and Social Impact Assessment (ESIA), of Category A projects within 30 days preceding the final insurance decision.
- ex-post disclosure, with periodic publication after the insurance decision, of Category A and B projects.
For further information on environmental and social due diligence, read here.
The environmental and social impact assessments for Category A projects under evaluation are subsequently made available, as is, every four months, the information relating to insured Category A and B projects.