4. Climate approach
The ECA can contribute to the global climate goals to which the Netherlands is committed, while also safeguarding knowledge, jobs, and Dutch competitiveness in the future. When the Export Finance for Future coalition (E3F) was established in 2021, the Dutch government committed itself to the E3F Statement of Principles, which recognizes the role of export credit agencies (ECAs) in promoting and supporting a shift towards climate-neutral, climate-resilient export transactions and investments. [1]
To promote and support the shift towards climate-neutral, climate-resilient exports, we have so far focused on the following four building blocks:
- Incentivise exports of and investments in low-carbon technologies, innovations, nature-based solutions, and climate change adaptation projects;
- Decarbonising and reducing transaction related emissions, in line with the COP26 declaration;
- Engaging with fellow organizations and other stakeholders to promote climate action and foster a level playing field;
- Disclosing and reporting on progress regarding our climate ambitions.
Figure 1: Climate approach for Dutch export credit facility
4.2 Decarbonise
Since the end of 2020, we have been actively committed to decarbonizing our portfolio and reducing transaction related emissions. Since then, various fossil energy projects (such as coal-fired power plants, unconventional shale oil and gas extraction, and routine flaring) have been excluded. Additionally, following the Netherlands' signing of the COP26 declaration, the CETP has been implemented.
4.5 Organisation
The responsibilities at Atradius DSB with regard to the current climate approach are divided as follows:
- Promoting climate-neutral, climate resilient exports through business and product development is the responsibility of the New Business team and the Sr. Advisor Products.
- A multidisciplinary project group has been set up to explore a net zero strategy, which will guide and advise on this process, led by the Sr. Lead Sustainability.
- The assignment of labels for climate-friendly and fossil transactions is carried out in the second line by the multidisciplinary working group Sustainable DSB, following a proposal for a label by underwriting.
- Reporting on climate-friendly and fossil fuel transactions is carried out by the Business Control, IT, and Reporting team.
- Responsibilities for promoting climate action and a level international playing field lie with the Head of International Relations and the Senior Lead Sustainability.
- The E&S team assesses applications based on their environmental and social impacts. This also includes the climate impacts of projects for which transactions are provided.
- The Economic Research Team focuses on sharing, bundling, and structuring knowledge related to climate.
