§ Baroness Miller of Chilthorne Domerasked Her Majesty's Government
What reasons were given by the United States when it decided not to join the 24 other Organisation for Economic Co-operation and Development countries who reached agreement on Common Approaches to the Environment and Officially Supported Export Credits. [HL1865]
§ Baroness Symons of Vernham DeanAt the November 2001 meeting of the OECD's Export Credit Group, the United States was unable to agree to support the recommendation on Common Approaches to the Environment and Officially Supported Export Credits, principally because it did not explicitly require that:
- 1. All Export Credit Agency (ECA) supported projects comply with the more stringent of the host country standards or the environmental standards of the World Bank Group; or that
- 2. ECAs make public environmental impact information relating to projects being reviewed by ECAs before the ECA reaches its decision on supporting a project.
The UK played a key role in securing widespread support among the other OECD member states for an informal agreement which has for the first time created a level playing field in terms of environmental impact analysis in the field of capital goods exports.
This agreement sets clear guidelines on the use of international standards as benchmarks. For a number of reasons, however, including legal constraints in some countries, it encourages rather than makes mandatory the advance public disclosure of environmental impact information.
The agreement on common approaches is a significant beginning and we hope that the coming months will see our US colleagues in a position to join the agreement and take part in its review and development.
Barnoness Miller of Chilthorne Domerasked Her Majesty's Government:
What percentage of officially supported export credits in the world market are those of the United States. [HL1866]
§ Baroness Symons of Vernham DeanThis information is only held by the Organisation for Economic Co-operation and Development (OECD) on the basis of statistical returns made confidentially by OECD countries which are members of the Working Party on Export Credits. We are not at liberty to disclose this information.