Finnvera

Red LineText of policiesCommentsScore
Regulatory requirements
Ensure LegalityOECD Common Approaches
13. Adherents should undertake an environmental and social review of projects, in accordance with the international standards applied to the project as set out in paragraphs 21-26 of this Recommendation
17 (...) The standards, practices and processes that the parties involved in the project intend to apply, including information that the project complies with local legislation and other host country relevant regulations.
28. Projects should, in all cases, comply with host country standards. Adherents should, therefore, seek assurance that the project complies with local legislation and other relevant host country regulations.
29. Projects should also meet the international standards against which they have been benchmarked, in accordance with paragraphs 21-26 of this Recommendation, recognising that some of these standards contain margins of tolerance in how their overall objectives may be achieved.
30. In exceptional cases, however, an Adherent may decide to support a project that does not meet the relevant aspects of the international standards against which it has been benchmarked. In such cases, the reasons for the choice of international standards, the reasons for the failure to meet such international standards, the related justification for supporting the project, and any related monitoring procedures must be reported to the ECG in accordance with paragraph 44 of this Recommendation. With due regard to business confidentiality, aggregated information on such cases will be made publicly available by the ECG in accordance with paragraph 42 of this Recommendation.
The policy requires compliance with the Common Approaches, which protect this criteria well.well
No Corruption and Tax EvasionAnti-Bribary Measures
If there is credible evidence that bribery was involved in the award of the export contract, the ECA shall refuse credit, cover and other support.
If there is credible evidence that bribery was involved, the ECA shall inform the relevant national authorities promptly."
The policy requires Finnvera to prevent corruption in its own operations, but it has not clear requirements on this towards clients.partly
Ensure ESIA for mills and plantationsPolicy for reviewing the environmental and social impacts of projects
When financing exports, Finnvera considers environmental and social impacts as part of the overall risk assessment of the projects financed.
In November 2016, Finnvera’s Export Financing updated its policy concerning the review of projects.
Annexes:
OECD Common Approaches

OECD Common Approaches
18. For a Category A project, Adherents should require an ESIA to be undertaken;
The polcy requires ab ESIA for Category A projects, which incude pulp mills and large scale logging, but this does not apply to third party plantations that a company sources from.partly
Social requirements
Ensure FPICPolicy for reviewing the environmental and social impacts of projects
When financing exports, Finnvera considers environmental and social impacts as part of the overall risk assessment of the projects financed.
In November 2016, Finnvera’s Export Financing updated its policy concerning the review of projects.
Annexes:
OECD Common Approaches
The policy requires compliance with IFC PS and EHS, which do not require FPIC.not
Respect Human RightsPolicy for reviewing the environmental and social impacts of projects
When financing exports, Finnvera considers environmental and social impacts as part of the overall risk assessment of the projects financed.

In November 2016, Finnvera’s Export Financing updated its policy concerning the review of projects.
Annexes:
OECD Common Approaches
The policy requires compliance with EB EHS and IFC PS, which require clients to respect human rights.well
Respect Indigenous rights and customary land use rightsPolicy for reviewing the environmental and social impacts of projects
When financing exports, Finnvera considers environmental and social impacts as part of the overall risk assessment of the projects financed.

In November 2016, Finnvera’s Export Financing updated its policy concerning the review of projects.
Annexes:
OECD Common Approaches
The policy requires compliance with IFC PS and EHS, which do not require FPIC for all impacted communities.partly
No forced resettlement Policy for reviewing the environmental and social impacts of projects

When financing exports, Finnvera considers environmental and social impacts as part of the overall risk assessment of the projects financed.

In November 2016, Finnvera’s Export Financing updated its policy concerning the review of projects.
Annexes:

OECD Common Approaches
The policy requires compliance with IFC PS and EHS, which do not require FPIC for all impacted communities.partly
Environmental Requirements
No forest degradation and deforestationPolicy based on the IFC and OECD Common Approachespartly
Protect endangered speciesPolicy based on the IFC and OECD Common Approachespartly
No high-risk speciesPolicy based on the IFC and OECD Common Approachespartly
No firePolicy based on the IFC and OECD Common Approachesnot
Protect peatPolicy based on the IFC and OECD Common Approachesnot
No persistent pollutionPolicy based on the IFC and OECD Common Approachespartly
Corporate association / scope of the policy
Corporate association / scope of the policyPolicy based on the IFC and OECD Common Approachespartly