Organization for Economic Cooperation and Development (OECD)
Partecipants and Consensus
SACE plays a pivotal role in representing the interests of Italian exporters during negotiations at the OECD Participants Group and other technical groups. These negotiations culminated in the Arrangement on Officially Supported Export Credits, commonly known as the Consensus, which sets common terms and conditions for export credit business. These terms & conditions grant a level playing field among Participants to the Arrangement, where competition between exporters depends exclusively upon the quality of goods and services rather than on the financial packages offered.
The Participants are Australia, Canada, European Union, Japan, South Korea, New Zealand, Norway, Switzerland, Türkiye, United States and United Kingdom.
Sector Understanding
OECD also establishes specific terms and conditions for certain sectors:
Climate Change Sector Understanding (CCSU)
Nuclear Sector Understanding (NSU)
Aircraft Sector Understanding (ASU)
Ship Sector Understanding (SSU)
OECD Recommendations
The Working Party on Export Credits and Credit Guarantees (known as ECG) is an official OECD body responsible for policy making and information exchange on Members' export credits systems and business activities. It coordinates national export credits policies on good governance issues, including anti-bribery measures, environmental and social due diligence, and sustainable lending.
Recommendation on Anti-bribery on Export Credits
The Exporter is required to declare that no bribery has been carried out in business transactions, whereas the Exporter is encouraged to adopt an adequate bribery control system.
The Recommendation on Sustainable Lending Practices and Export Credits
The Recommendation on Sustainable Lending Practices and Export Credits is designed to ensure that export credits do not contribute to the accumulation of unsustainable external debt by lower-income countries.
Recommendation on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence (The “Common Approaches”)
The recommendation defines the guidelines for OECD ECAs’ environmental and social assessment. Exporters are required to provide declarations essential for the environmental and social due diligence performed by SACE on the project supported.
