§ Mr. Ivan HendersonTo ask the Secretary of State for Trade and Industry what progress has been made on developing a statement of business principles for the ECGD; and if he will make a statement. [143245]
§ Mr. CabornI am pleased to announce that, following a process of public consultation and with advice from the recently expanded Export Guarantees Advisory Council, a set of Business Principles has now been developed. Copies will be placed in the Library of the House and on ECGD's website www.ecgd.gov.uk.
Production of a statement of Business Principles by the end of this year was a key conclusion of the Review of ECGD's Mission and Status which I announced to the House on 25 July 2000. The statement sets out clearly and publicly ECGD's approach to fulfilling its new Mission and will guide ECGD's business practice ensuring that its activities take account of the Government's international policies. The Principles set out ECGD's objectives and policies in relation to matters such as business integrity, transparency, debt sustainability, human rights and sustainable development—which includes the concept of trade being conducted within a framework of good governance and without adverse impact on the environment of others.
ECGD will also publish information about an enhanced project impact screening process and how any sensitive cases will be handled.
ECGD will report its performance against Business Principles in a full Annual Report to be laid before Parliament next year and will keep its policies and 208W procedures under continuous review, in consultation with the Export Guarantees Advisory Council—which is now operating to a reformed remit.
I am pleased that ECGD has taken this important step in implementing the agenda for change we set out in the Mission and Status Review.