Principle of sustainable development requires reduction of negative impact of human economic activities on environment. Review of environmental effects of the export and investment has been a standard procedure in a majority of developed countries and it is one of basic conditions for the financing of export projects for institutions from the World Bank Group, development agencies and regional development banks.

The OECD Recommendation on Common Approaches on Environment and Officially Supported export credits came into force on January 1, 2004. It contained an undertaking of all member countries not to support through their institutions those projects which harm environment. The OECD Council approved the revised Recommendation in June 2007 coming into force on September 1, 2007.

All EGAP's procedures are in compliance with effective international rules in the area of environment protection, including the revised Recommendation of the OECD Council. Review of environmental impact in the county of final destination is one of basic conditions in insurance of export and investment; an expert opinion has to be prepared for project where a significant negative environmental impact can be foreseen. EGAP always acts in a way not prolonging inadequately the appraisal of an application for insurance and not burdening clients with out-of proportion expenses.

Environmental review shall be made for all projects where the Exporter applied for insurance of a credit with state support with maturity exceeding 2 years as well as for all investment in foreign countries. Responsibility for environment compatibility of the project rests always with the main supplier. As long as the Czech exporter is in position of a subcontractor, the submission of a review prepared for the main supplier is sufficient.

The insured has an obligation to inform public in cooperation with EGAP on impact of the export on environment while respecting trade secrets, intellectual and industrial property and know-how.

Procedures Questionnaire List of sensitive sectors and areas List of expert executors of reviews Revised Council Recommendation on Common Approaches on Environment and Officially Supported Export Credits   (177 kB) Contacts