Geneva, 12th November 2026 – The Net-Zero Export Credit Agencies Alliance (NZECA) has released its 2026 Progress Report, recording a 58% increase in members’ net-zero committed portfolios, from USD238 billion to USD376 billion.

Including affiliate members, total climate-committed exposure now stands at USD380 billion, while collective attributed portfolio emissions declined to 92.15 MtCO2e in 2025, even as aggregate portfolio size increased. All full members have disclosed institutional policies restricting official support for fossil fuels.

The report demonstrates that official export credit support is becoming a significant instrument for real-economy decarbonization. It offers lenders, investors, and risk managers greater co-financing capacity, clearer green finance frameworks, complex risk sharing structures and expanded access to clean energy and sustainable infrastructure transactions.

Through its engagement programme, NZECA continues building partnerships with organizations across industry and finance, national governments and international bodies. The goal is to unlock export credit finance and expertise to bolster the transition at a global scale.

Tim Reid, CEO of UK Export Finance, said:

 

“The global transition presents enormous opportunities for trade, investment and innovation. NZECA members are helping to turn the opportunities into viable projects. This report demonstrates the Alliance’s growing reach and impact. Members have scaled up finance for clean growth and sustainable projects, expanded their targets across sectors, and enhanced how they measure climate impact.”

 

Eric Usher, UNEP FI Head, said:

 

“The 58% increase in net-zero-committed portfolios, reaching USD 376 billion, sends a clear signal: export credit agencies are turning climate commitments into action. As climate risks intensify and economies are actively re-considering industries, infrastructure and supply chains of the future, the opportunities are significant and societal mandates to call for immediate action. Paris-aligned export finance is no longer a niche. It’s becoming central to how the world builds a low-carbon economy and how ECAs enhance resilience of their portfolios, national economies and international trade. UNEP FI will keep working with NZECA members and partners across the financial system to turn this momentum into lasting real-economy results.”

The report documents sector-specific decarbonization targets across energy, aviation, cement, agriculture, and shipping. Nine members now apply consistent GHG accounting methodologies and publish structured disclosures. All Alliance full members have developed consistent policies on limiting new support to the international fossil fuel energy sector, and many have set targets to track progress on legacy exposure phaseout.

UKEF provides infrastructure financing package for Angola

As part of a wider GBP 655 million infrastructure financing package for Angola, UKEF provided GBP 211 million for the Uíge Electrification Project (including transmission lines, substations and supporting infrastructure). The financing  includes the Huambo Transmission Line, creating create 5,000 domestic electricity connections and providing public lighting, while reducing reliance on diesel generators and hydropower electricity to replace fossil-fuel-based generation. 

Sustainable finance progress:
  • ECAs are directing more public-backed finance into climate solutions, with measurable results.
  • Cesce (Spain) targets climate finance of at least 50% of its portfolio and EUR10 billion by 2030, while renewables already make up about 69% of EIFO’s portfolio (with reported full phase out of the legacy fossil fuel exposure).
  • UKEF (UK) has deployed GBP2.8 billion toward a GBP10 billion clean growth goal by 2029, and EDC (Canada) recorded CAD5.3 billion in sustainable activity in 2025.
  • SEK’s (Sweden) sustainability-classified loans grew 5% to SEK56.3 billion, and Bpifrance Assurance Export (France) facilitated over EUR583 million through EU Taxonomy-aligned incentives.
  • Impact reporting is also maturing. EIFO’s (Denmark) share of six wind projects will avoid 12.5 MtCO2e over their lifetimes, Cesce’s directly insured risks avoided 8.8 MtCO2e, and SEK’s green loans avoided 5.2 MtCO2e in 2025.
  • Two flagship deals show these commitments turning into real capacity: EIFO’s EUR850 million facility for ENGIE’s 1.5 GW European wind buildout, and SEK’s roughly €1.6 billion green export credit for the development of low-carbon rail transport within Türkiye’s EUR2.6 billion financing.
About NZECA

The Net-Zero Export Credit Agencies Alliance comprises ten export credit agencies and export-import banks across Europe, North America, the Middle East, and Central Asia—eight full members and two affiliates. The Alliance was established to align official export finance with net zero and Paris Agreement objective. The Progress Report can be downloaded here.