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Berne Union鈥檚 export credit insurance update and progressing climate change actions - YouTube
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Finance Global and here we are today at
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x-cred International in London I'm
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joined by Paul Heaney acting Secretary
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General at the burn Union Paul thanks
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for joining us on trophan stores TV
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thank you very much so quick
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introduction in 30 seconds or so who are
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you where are you from and what do you
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do at the burn Union
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so as I said my name is Paul Heaney I'm
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recently appointed as the acting
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Secretary General of The Bu so that
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means I'm overseeing all the day-to-day
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operations of the association for anyone
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who doesn't know the The Bu is the
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industry Association for export credit
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and investment insurance we have a
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global membership 83 members pcas
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multilateral institutions and also the
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private credit credit and political Risk
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insurance Market until recently for the
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past six years I've been the head of
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communications at The Bu leading our
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strategic comms our Outreach
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Publications and research functions
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great and a really strong message from
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the burn Union presentation this morning
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particularly around providing practical
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action on climate can you elaborate a
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bit more about about the message of this
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presentation
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yeah I think you know it's obvious when
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you come to an event like this that
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climate is top of everyone's agenda it's
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something that everyone's talking about
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and I think across our industry it's
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also and becoming an important part of
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the strategy of all bringing your
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members and other institutions across
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the kind of wider trade finance and
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Export credit insurance industry what's
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uh less even is the degree to which
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climate considerations have been
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implemented practically in the business
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of these institutions and you know
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there's a lot of reasons for that and
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countries are coming from different
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starting points in terms of their
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position on climate and their kind of
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industrial base the role of the brain
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Union of course in general is to
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facilitate its dialogue information
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transfer and to try to highlight best
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practice across these kind of things so
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there's two areas specifically on
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climate that I think we can have a real
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practical impact and the first is we
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launched a climate working group that
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started this year
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and this brings together a
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multi-disciplinary group of experts in
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climate and sustainability risk
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underwriting policy and international
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relations cross-braining new members and
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also from other parts of the industry
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including the Commercial Banking sector
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development Finance institutions as well
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and the purpose with this group is to
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try to really distill some of the
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expertise and some of the positive
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actions that these institutions are
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taking
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highlight those and try to move the
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whole industry forward with
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positive examples that they can learn
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from that they can Implement and
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inspirations
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so we're working over the remainder of
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this year and probably ongoing through
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next as well and we're creating a series
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of educational materials so we're
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looking to highlight in a series of
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webinars
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examples of innovation in products in
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climate incentives and in in a bit of
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transaction structures that are
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targeting climate we're also creating a
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series of explainer videos to
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help demonstrate how some brand union
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members are approaching things like
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implementing tcfd reporting conducting
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um carbon portfolio accounting exercises
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or applying scientific targets to to
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some of their business
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so this is all information that we want
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to make publicly available and we want
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to try and highlight the the kind of
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positive impact that export credit can
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make through some of these changes
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within the institutions the other area
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very briefly that I wanted to mention is
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of course the the brand Union is it's
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the only multilateral forum for the
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export credit insurance industry and you
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know there's a wide recognition that as
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well as changes within individual
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institutions we need some kind of
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changes within the underlying framework
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of the industry in order to enable
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export Credit Agencies on the rest of
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the industry to meet the climate
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objectives of their governments this
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means that we we really need to look at
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reform of the oecd but we also need a
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wider dialogue because this is a global
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issue and it requires cooperation also
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with non-leecd members I think although
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the brand Union is not a standard
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setting body the role that we can play
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is in helping facilitate that Universal
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and broader dialogue that can maybe feed
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into more progress on discussions Within
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The Forum where these kind of rules are
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adjusted and set thanks Paul so
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education working groups and setting
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those Frameworks incredibly important
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for the climate change agenda and kind
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of bringing everyone together in that
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program let's talk about
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um medium and long-term businesses
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because another point from the
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presentation this morning was that there
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has been a bit of a rebound from the
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lows of the pandemic you also referenced
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a quite an uneven recovery in terms of
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the markets attracting investment and
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also developing markets really
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continuing to struggle uh relative to
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the developed markets how can the export
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Credit Insurance Agency influence and
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help this yeah so I think you know from
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a bu point of view again this is another
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area where it's all about forging
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Partnerships and cooperation the export
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credit insurance industry is is demand
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driven so the degree to which
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our members can directly affect the the
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distribution of financial flows is is
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limited
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um but at the same time you know we've
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seen uh over recent years acas in
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particular becoming more proactive about
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their origination strategies and
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especially since the pandemic you know
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we see lots of vcas have broadened
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mandates and clearly governments are
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embracing
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Credit Agencies as part of their toolkit
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to help promote covert recovery and of
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course climate is another big one and I
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think for many developed countries
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promoting
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exports of cleantech and other kind of
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industries that can support positive
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climate action again is uh it's a an
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area that they see as a big opportunity
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for growth to help combat some of the
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negative effects of the pandemic and
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difficult economic environment as well
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so you know we're all aware of the the
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huge tension between access to energy in
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some parts of the world these objectives
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towards decarbonization
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and you know I think this is this is an
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area where developed countries have a
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huge role to play in terms of uh
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sustainable investment and securing
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flows of that as well as
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transfer of knowledge technology
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transfer as well and pcas are very well
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positioned to contribute to that but at
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the same time you know when you look at
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the uh the financing needs for
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infrastructure for energy investment
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across Africa
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and this requires a much more of a
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global kind of approach this is where I
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see the need for partnership and
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engagement with all stakeholders so it's
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not just export Credit Agencies or
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private insurers but also partnering
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with dfi's national development Banks
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and all the stakeholders across some of
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these markets Paul thank you very much
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for joining us on trade Finance talks
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it's been a pleasure having you thank
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you very much have a good rest of the
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day at exped International thank you
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