EKF´s long-term goal is to contribute to social, economic and environmental sustainability in the world. This means that EKF has decided to adhere to a number of international agreements and principles. The latest CSR report illustrates how EKF shows regards for people and the environment as part of a responsible business policy. Therefore, an increasing number of projects are screened for environmental and social sustainability in connection with EKF´s assessment of export transactions.
”EKF has an ethical and economic responsibility for securing the highest possible level of sustainability in the business transactions in which we participate. We regard a responsible way of handling social, environmental and economic aspects of the business transactions as an integral part of our risk assessment,” says Anette Eberhard, CEO of EKF.
Screening of social and environmental impacts
In 2011 a record high number of projects were screened for environmental and social risks and impacts.
This includes for instance labour rights, health and safety for employees, consideration for the local population as well as utilisation of natural resources and raw materials.
“As a minimum, EKF´s evaluation of a project´s sustainability will adhere to local regulations and international standards. So, by issuing our approval we endorse our customers´ business transaction from a social, environmental and commercial perspective”, says Kristina Maria Goldberg, CSR Consultant.
The Dalmatian pelican: The Mordogan & Korkmaz wind farms, Turkey
EKF is involved in a project which includes the development of two wind farms in western Turkey. The wind farms, however, are located near an important nature reserve for wintering and migratory birds. The birds are rare and threatened by extinction. The wind farms and the related transmission lines make up a potential risk for the birdlife, for instance, for the rare Dalmatian pelican present in the area. EKF therefore decided to involve an ornithologist who looked into the migratory bird routes. He concluded that the wind farms did not have a negative impact on birdlife and EKF thus decided to guarantee the project.
EKF´s contribution to Denmark
Apart from EKF’s contribution to sustain¬able development abroad, the CSR report also shows that EKF assumes social responsibility in relation to Danish export and Danish jobs. EKF has witnessed a drastic growth since the beginning of the financial crisis. The number of guarantees issued had more than doubled by the end of 2011.
This means that in 2011 EKF
> obtained a total turnover worth DKK 24 billion
> helped 400 Danish companies
> helped to secure 20,000 Danish jobs
>improved the national balance of payments by DKK 12 billion.
Anette Eberhard, CEO of EKF, is therefore most satisfied with the CSR activities of the year,
“EKF helps Danish companies move forward in international markets. We are the only organisation in Denmark that offers cover for risks that banks and others from the private sector are unable or unwilling to cover. Our CSR efforts therefore support our overall vision about securing competitive financial conditions for Danish business in international markets”, says Anette Eberhard and continues,
“It is of great value to Denmark when EKF helps to generate revenue and jobs for Danish export companies and their sub-suppliers”.
New order on the island of Funen
The Danish company Böll-Tech from the island of Funen received an order from a Norwegian company who needed equipment for handling and treatment of wood panels. However, the company lacked financing for the system and Böll-Tech therefore faced the risk of losing the order. Thus, EKF offered Böll-Tech´s bank, Sydbank, a 100 per cent guarantee to cover the payment from the customer in Norway. Böll-Tech could subsequently deliver the system worth DKK 2.5 million.