OeKB acts on behalf of the Republic of Austria in the administration of export credit guarantees. Therefore, the Austrian Federal Ministry of Finance entrusted OeKB to establish and administer an environmental assessment procedure for guarantee applications.
In fulfilling this task, OeKB is focusing on the following objectives:
- To promote sound environmental practice and consistent processes for projects benefiting from officially supported export credits, with a view to achieve a high level of environmental protection.
- To increase awareness for environmentally appropriate technology and to enhance buyer countries' benefits from the high environmental standards of Austria.
- To encourage project sponsors to prepare EIA Studies before tendering projects and to make them publicly available.
- To establish an environmental review system in line with international agreements and conventions, thereby contributing towards sustainable development.
- To identify potential environmental benefits of the assessed projects.
- To play an active part in cooperation and exchange of information with other export credit agencies, international finance institutions, environmental practitioners as well as with interested non-governmental organizations.
The term "environmental assessment" is used in a broad sense to incorporate not only ecological aspects but also community issues, such as cultural property, involuntary resettlement, and impacts on indigenous peoples.
An overview of the environmental assessment procedures of the individual OECD countries is available on OECD's website.