Pillar II: The corporate responsibility to respect human rights

6. UN Guiding Principles in the operations of the Export Credit Insurance Corporation [page 32]

“The Export Credit Insurance Corporation (KUKE) draws upon the UN Guiding Principles on Business and Human Rights in the course of the environmental procedure related to credit insurance and export contracts guaranteed by the State Treasury. The procedure following the current OECD Recommendation published as TAD/ECG(2012)5 of 28 June 2012 and adapted to Resolution No 2/2013 of the Export Insurance Policy Committee of 6 February 2013 takes into account broader human rights issues, including the UN Guiding Principles. The issue of respecting human rights in the operation of export credit agencies was raised both in the work on the 2012 Recommendation (modification of the 2007 document) and during several years of its revision, culminating in the adoption of the current version by the OECD Council on 6 April 2016. The current version of the Recommendation, officially published on 3 April 2016 (TAD/ECG (2016) 3) takes greater account of the requirements for respecting human rights in a procedure known as due diligence in the social and environmental aspects, e.g., in the classification of export undertakings and risk assessment. The implementation of the assumptions of the UN Guiding Principles in light of the Recommendation is based on the Corporation’s gradually acquired experience in the application of appropriate methods of assessment of human rights in individual importing countries. An exchange of experience with the cooperating institutions and as part of the Export Credit Group is a great help.”