The action of the Federal Government have to be transparent and comprehensible in particular as regards the instruments of the export credit guarantees; thus, a relationship between the state and the citizenson trust can evolve. Besides, the Federal Government will gain important insights for its decisions from the contributions of all social interest groups.
Cover for transactions with export credit guarantees is linked to certain framework conditions. In addition to eligibility for cover, the Federal Government is also bound by international guiding principles when providing cover for exports. In this way, exporters and export-financing banks are given a reliable framework within which they can obtain state cover for export transactions and which even makes transactions possible in many cases.
EXPORT CREDIT GUARANTEES
In view of the Paris Climate Change Agreement, a comprehensive transformation of the economy is imperative to reduce global warming to well below two degrees Celsius compared to the pre-industrial era. By developing a climate strategy for export credit guarantees, the Federal Government will continue to support the German economy with cover tailored to its needs.
A first step is the "Special Renewable Energies Initiative", which offers greater flexibility in financing local costs.
Assessment of environmental, social and human rights issues (ESHR)
Environmental, social and human rights issues (ESHR) play an important role in the promotion of foreign trade. When an application is made, due diligence is carried out to make sure that national and international standards will be met. With the following link you can access information on the requirements and procedure of the environmental, social and human rights assessment (ESHR assessment).
Information and guidelines on the energy sector
Read more about current national guidelines for export credit guarantees for the energy sector.
category A projects
Category A projects are published before the final decision on cover with export credit guarantees is taken, as they can potentially have strong environmental, social or human rights impacts.
Basic project data of all projects with a contract value of more than 15 million euros, basic project data are published after a final commitment for cover has been made provided that the exporter has given its consent.
on selected transactions
Read more about projects that have been realised with Hermes Cover.
OECD Common Approaches
CREATE A LEVEL PLAYING FIELD
The assessment of environmental, social and human rights aspects forms part of the decision on the eligibility for cover of an export transaction.
The transparency requirements were defined at OECD level in the “Recommendations of the Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence” (short: Common Approaches).
Prevention of Bribery
A CENTRAL ASPECT OF SUSTAINABLE ACTION
The corruption-free transaction of export business and its financing is of great importance to the Federal Government because it considers this to be a crucial aspect of sustainability. Accordingly, the absence of corruption is also a major criterion for a transaction’s eligibility for support.