Legal & Regulatory News

Net-Zero Export Credit Agencies Alliance launched at COP28

On 4 December 2023, the UN-convened Net-Zero Export Credit Agencies Alliance (NZECA) was launched at COP28. NZECA is a first-of-its-kind alliance uniting leading public finance institutions committed to delivering net-zero economies by 2050 by supporting the decarbonisation of trade and facilitating joint action from public and private finance.

The NZECA founding members include EKN, the Export and Investment Fund of Denmark, Export Development Canada, Svensk Exportkredit and UK Export Finance. Specifically, NZECA members have committed to:

• Transition all operation and attributable greenhouse gas (GHG) emissions from business activities in alignment with the path to net-zero by 2050, or sooner, consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100.
• Publish GHG emission data and evidence annually to showcase action in line with the commitments. This includes issuing relevant international or national GHG emissions reporting protocols and climate portfolio alignment methodologies.

The NZECA includes a number of affiliate members that wish to commit to the goal of reaching net zero but require some support as they embark on their journey.

Click here to read the press release and the NZECA commitment statements.