International Developments Outside the OECD
The OECD also observes the developments in non-OECD countries regarding the further consideration of environmental and social criteria when it comes to granting guarantees or providing finance.
Austrian Environmental and Social Policy for Export Guarantees
OeKB acts on behalf of the Republic of Austria in the administration of export credit guarantees and does so in compliance with the Sustainability Policy of the Export Promotion System. As early as 2000, the Austrian Federal Ministry of Finance commissioned OeKB with the development and application of a procedure for the assessment of the environmental impact of transactions involving export guarantees.
Austrian Environmental and Social Assessment Procedure
The environmental and social assessment procedure applied by OeKB is based on the Recommendation of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (The "Common Approaches") and on the Sustainability Policy of the Export Promotion Procedure.