AMSTERDAM/THE HAGUE - As of January 1, 2023, the previously announced proposed policy on the fossil value chain for export credit insurance will take effect, without any changes.
This means that new public support through the Dutch ECA cover for the fossil energy sector abroad will no longer be possible as of next year. The exclusion policy concerns activities aimed at the exploration and extraction, processing, storage, transshipment and transportation of fossil fuels and electricity generation through fossil fuels. With these policy changes, the Netherlands is implementing the COP26-statement signed in Glasgow last year bringing the Dutch Export Credit Insurance in line with the Paris Agreement.
Exceptions and exclusions
The policy was created partly with input from business and civil society stakeholders and in coordination with other countries that have also committed to the same statement. For each activity in the fossil value chain it is described which ones are excluded from ECA-support and which exceptions are still possible. Applications submitted before Jan. 1, 2023 are being processed and can still result in a policy until the end of 2023. The Dutch ECA-support remains accessible under strict conditions for investments in existing fossil infrastructure in line with the 1.5 degree scenario. A key condition for this is an improvement in environmental performance, and/or safety, and/or health and where the economic life of the infrastructure is not extended. Other examples of exceptions include support services for fossil infrastructure, multipurpose ports, and electricity production in low-income countries with extreme energy poverty.
The full overview of the new exclusion policy can be found on this page.