The financial services industry has begun to embrace sustainable and Sustainable Development Goals (SGD)-aligned investment. In recent years, the industry has increasingly worked to mobilize the required investments to achieve the SDGs and support the transition towards a climate-friendly, resource-efficient economy that works for all.
Despite its important role in facilitating sustainable transactions and infrastructure projects, export finance has not received much attention in the financial industry’s increasing adoption of sustainable finance. As such, the International Chamber of Commerce (ICC) established a Global Export Finance Committee Sustainability Working Group in 2018 with the aim of expanding Sustainable Export Finance and showing how Export Finance can contribute to the world’s mission of achieving the SDGs and fighting climate change.
The new working group commissioned Momentus (formerly IFCL) and Acre Impact Capital to produce a White Paper on Sustainability in Export Finance, with the desire to achieve two objectives: first, to capture the current state of sustainability in export finance; second, to garner policy and product recommendations that would grow the volume of Sustainable Export Finance.
We conducted a detailed and comprehensive analysis of the current landscape of products, standards, frameworks, definitions, taxonomies, principles, and reporting tools for sustainable and climate finance, including PRB, PRI, ICMA, EP, UN SDGs, Paris Agreement, EU Taxonomy, Climate Bonds Taxonomy, TCFD, CDP, GRI, SASB and more. Research for the White Paper was conducted through extensive stakeholder surveys, consultations, quantitative data analysis, and desk reviews.