Proposal for a decision
Annex a (new)
Annex a COHERENCE AND TRANSPARENCY PART A) Consultation, Transparency, and Public Access to Information The European Commission undertakes to share information with the European Parliament on the implementation of the OECD Arrangement on Officially Supported Export Credits. It shall therefore provide an annual 'transparency report' on the implementation of the Arrangement. This transparency report shall provide a list of each individual transaction approved, per country that provides the support, in the following matter: - Name of country that provides the official support; - Name of export credit agency; - Destination of goods; location of services; - Date of transaction approved by the agency; - Name of exporter or provider of services; - Type of the transaction: supply of goods or equipment; performance of research or design; performance of works; provision of services; - Name of intervening bank; - Name of debtor; - Name of guarantor; Type of official support (OECD Arrangement's classification): 1/ Export credit guarantee or insurance (pure cover); 2/ Official financing support: a. direct credit/financing and refinancing, or b. interest rate support. Additional information shall be provided on the implementation of the TFEU: - Article 208 (1) TFEU stipulates that the Union “shall take account of the objectives of development cooperation in the policies that it implements which are likely to affect developing countries.” - Article 208 (2) TFEU stipulates that the Union and the Member States “shall comply with the commitments and take account of the objectives they have approved in the context of the United Nations and other competent international organisations.” In order to ensure full compliance with the TFEU and with the OECD Arrangement, the EU requests that the Member States provide additional information on certain individual transactions. That information will be added in the annual transparency report. This relates to the following: • In the case of transactions in Heavily Indebted Poor Countries: ECAs shall report on the number and value of projects to IDA countries and provide the methodology for applying the country specific debt sustainability framework and for ensuring that expenditure is for productive purposes only. This will include a client's statement that no illegal payments related to a contract were made. Any contravention of the ban on illegal payment should entail cancellation of the state's obligation to pay; • In the case of tied aid credits: ECAs shall report on the number and value of tied aid projects using the classification in the OECD and on the methodology used to ensure compliance with the Arrangement; • In the case of implementation of projects: ECAs shall provide information on the measures taken by the applicant to respect the applicable environmental, social and human rights legislation in the host country and international best practices, including EU principles and standards, as derived from EU policy and law. This will include a client's statement that it will respect the applicable law of the host country and international best practices; • ECAs shall provide information on clients' respect for international and national criminal law. This will include a client's statement that it will respect international and national criminal law; • In the case of dam projects: ECAs shall provide information on clients' compliance with the Guidelines of the World Commission on Dams; • In the case of extractive Industries projects: ECAs shall provide information on clients' compliance with the World Bank's extractive Industries Review's recommendations; ECAs shall make project assessment information readily available to affected communities, NGOs and other interested parties at least 120 days in advance of an application being approved. This information shall include environmental and social impact assessments for all projects, and the names of the companies involved. Furthermore, public disclosure of sustainable development impact assessments shall be done before ECA support is granted. PART B) Climate change ECA's will contribute to the EU's commitment and obligations under the UN Framework Convention on Climate Change (UNFCCC), in line with Article 208 TFEU. The integration of European climate policies in its operations shall include: • Annual detailed reporting regarding the full carbon footprint of ECA supported projects, or the localised and regional effects of individual projects; • An analysis of the carbon footprint to be included in the environmental assessment procedure to determine whether project proposals maximise energy-efficiency improvements; • The introduction of an exclusion list of types of projects/technologies they will not support, including the phasing out of financial transactions for fossil fuel projects; • The definition of clear CO2 emission reduction targets for both the long term and the short term and an annual emissions cap; • The definition of appraisal procedures to take account of the needs of developing countries in relation to climate change and development, as identified in UNFCCC National Adaptation Programmes of Action (NAPAs), and EU Regional and Country Strategy Papers (RSPs/CSPs); • The definition of objectives on renewable energy, in line with the regional/country strategy plans.