EXPORT CREDIT AGENCIES, ENVIRONMENTAL STANDARDS AND THE G8 SUMMIT IN OKINAWA

Motion Text

That this House notes the increasing concern in many countries about the environmental impact of investment projects supported by export credit agencies; regrets the lack of support by the OECD Working Party on Export Finance for the policy of the adoption of commonly accepted World Bank standards as guidelines for ECA reform; welcomes the initiative by the United States Government to raise this issue at the forthcoming G8 Summit in Okinawa; supports the principle of the adoption of basic environmental guidelines for export credit agencies including environmental impact assessment procedures, greenhouse gas emissions accounting and lending prohibition policies; and calls on the Government to give support for a G8 directive on environmental guidelines for export credit agencies to be adopted no later than the G8 summit in 2001.