EKF's CSR policyEKF’s key objective is to ensure competitive terms of financing in the global market for Danish business and industry. This is why our CSR initiatives are based on internationally recognised rules and principles. We maintain that sustainability is a precondition for sound business, which is why we perform risk assessments of both the financial factors in an export transaction and its potential human and environmental impacts.
EKF represents the Danish state in international alliances on CSR and global trade. We are committed to promoting CSR through common international standards and legal/political frameworks. The object is to ensure equal terms worldwide for all business enterprises while taking economic, human and environmental factors into account.
EKF exerts influence on the international CSR agenda through our activities within the OECD and the EU and through our participation in the UN Global Compact and our observance of the Equator Principles.
The essence of our CSR policy is embodied by these internal and external objectives:
• we integrate consideration of the economy, environment and people in our risk analysis
• we set high standards for ourselves, and for our customers, partners and suppliers
• we adhere to international standards and our CSR approach is based on key principles
• we aim to put CSR on the international agenda in the forums in which we participate
• we think globally regarding the economy, environment and people, for the benefit of Danish competitiveness
• we are open about our activities, while protecting the confidentiality of our customers
• we cooperate with our customers on CSR.
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CSR policy
EKF in international alliances on CSR
OECD
EKF's evaluation of environmental and social sustainability is based on an international agreement ratified by Denmark under OECD auspices. The agreement, which takes the form of an OECD Recommendation, lays down rules regarding common procedures and standards for environmental protection and social responsibility designed to prevent distortion of competition between OECD member states providing export credits.
The main objects of the OECD Recommendation are for OECD member states to increase their cooperation and step up their exchange of information. All projects are to be investigated to determine their potential environmental impacts before they are granted export credits, and environmental information must be published on projects that significantly impact the environment. The member states also pledge to step up their efforts to encourage non-OECD countries to cooperate on more consistent environmental practices.
The OECD member states have held consultations with representatives of business and industry, unions and NGOs on the OECD Recommendation. In addition, the OECD Recommendation has been coordinated with the World Bank, the European Bank for Reconstruction and Development (EBRD), the United Nations Environmental Program (UNEP) and the International Finance Corporation (IFC).
Read more about sustainable development on the
OECD website.
UN Global Compact
The United Nations Global Compact has adopted ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. The principles concern how to combine business strategy with sustainability. EKF endorses the UN Global Compact, and urges its customers and partners to observe the ten principles.
Read more about
UN Global Compact.
Equator Principles
The Equator Principles are a set of voluntary but binding international standards and benchmarks for project financing. The principles are intended to ensure that private institutions and banks evaluate environmental concerns and social responsibility according to a set of common guidelines.
The Equator Principles are based on the International Finance Corporation’s (IFC) standards and guidelines on environmental and social issues. The principles are applied in all projects in which the total investment amounts to USD 10 million and above.
EKF works internationally to engage financial institutions that have not yet adopted the principles, especially financial institutions in the BRIC countries (Brazil, Russia, India and China). EKF is of the impression that financial institutions in these countries are showing increasing interest in the Equator Principles.
Read more about the
Equator Principles.