The UN-convened Net-Zero Export Credit Agencies Alliance (NZECA) unites leading public finance institutions committed to delivering net-zero economies by 2050 by supporting the decarbonisation of trade and facilitating joint action from public and private finance.
This first-of-its-kind net-zero finance alliance consists of nine export credit agencies and export-import banks that together support billions of dollars in international trade.
NZECA members have committed to:
- Transition all operational and attributable greenhouse gas (GHG) emissions from business activities in alignment with the path to net zero by mid-century, or sooner, consistent with a maximum temperature rise of 1.5°C above pre-industrial levels by 2100.
- Publish GHG emission data and evidence annually to showcase action in line with the commitments. This includes issuing relevant international or national GHG emissions reporting protocols and climate portfolio alignment methodologies.
The Alliance includes a number of affiliate members that wish to commit to the goal of reaching net zero but require some support as they start their journey. They pledge to support the goal of attaining net-zero greenhouse gas emissions and advancing a just transition. Peer knowledge sharing with leading export credit agencies will help them accelerate their transition to net zero.
Members Commitment Statement
Affiliate Members Commitment Statement
Target Setting Protocol
Read the new guidance designed for ECAs and ExIm banks
Membership
| Member | Membership Type | Region | Country | Date Signed |
|---|---|---|---|---|
| Bpifrance AE | Affiliate Member | Europe | France | 31 Mar 25 |
| Cesce | Full Member | Europe | Spain | 05 Dec 23 |
| EKN | Full Member | Europe | Sweden | 05 Dec 23 |
| Etihad Credit Export Insurance (ECI) | Affiliate Member | Africa & Middle East | United Arab Emirates | 05 Dec 23 |
| Export and Investment Fund of Denmark (EIFO) | Full Member | Europe | Denmark | 05 Dec 23 |
| Export credit agency of Kazakhstan (Kazakhexport) | Affiliate Member | Asia Pacific | Kazakhstan | 05 Dec 23 |
| Export Development Canada (EDC) | Full Member | North America | Canada | 05 Dec 23 |
| Finnvera | Full Member | Europe | Finland | 11 Nov 24 |
| Svensk Exportkredit (SEK) | Full Member | Europe | Sweden | 05 Dec 23 |
| UK Export Finance (UKEF) | Full Member | Europe | United Kingdom | 05 Dec 23 |
Partners: Oxford University Innovation Hub | Future of Climate Cooperation
Steering Group
- Tim Reid, Chief Executive Officer, UKEF – NZECA Steering Group Chairperson
- Mairead Lavery, President and Chief Executive Officer, Export Development Canada (EDC)
- Christian Ølgaard, Chief Policy and Regulation Officer, EIFO
- Anna-Karin Jatko, Director General, EKN
- Magnus Montan, Chief Executive Officer, SEK
- Beatriz Reguero, Chief Operating Officer at the State Account Business, CESCE
- Raja Al Mazrouei, Chief Executive Officer, ECI
- Jussi Haarasilta, Executive Vice President, Large Corporates, Finnvera
- Eric Usher, Head, UNEP FI
About the UN-convened Net-Zero Export Credit Agencies Alliance
The Alliance was launched in 2023 at COP28 by eight members in partnership with the University of Oxford, Future of Climate Cooperation and UNEP FI. The founding members were EKN, Export and Investment Fund of Denmark (EIFO), Export Development Canada (EDC), Svensk Exportkredit (SEK) and UK Export Finance.
Race To Zero’s expert peer review group has confirmed that the commitments signed by the members of the NZECA meet Race To Zero’s criteria to become its partner and set a credible pathway to net zero by 2050.
Read more about the Net-Zero Export Credit Agencies Alliance governance structure here.
Contacts
Export credit agencies interested in joining the alliance, should contact Elena Koritchenko, NZECA Project Lead, UNEP FI
For media requests, please contact Sally Wootton, Communications Co-Lead, UNEP FI
Insights from our leadership
Inger Andersen, Executive Director, UN Environment Programme
“Public finance has been the missing piece in the net-zero financial landscape. Export Credit Agencies are in a strong position to deliver more sustainable global trade and to complement the work already being undertaken by the private finance sector, helping to address market gaps to deliver net-zero economies by 2050. This Alliance will play an important role in supporting tangible economic transition and help countries implement their commitments under the Paris Agreement.”
Mark Carney, UN Special Envoy for Climate Action and Finance and Co-Chair of GFANZ
“The net-zero transition means more competitive economies, new jobs, and higher growth, all of which help Export Credit Agencies (ECAs) to fulfil their mandates. We applaud the efforts of leading ECAs to scale climate finance and look forward to working with the new alliance to build the economies that our citizens need and future generations deserve.”
Peder Lundquist, CEO, Export and Investment Fund of Denmark (EIFO)
“Climate change is imminent, and the transition away from fossil fuels is more important than ever to keep the 1.5 or even 2-degree goals alive. All levers need to be pulled, and all sectors need to transition. This is why a global net-zero alliance for public financing institutions such as ECAs and EXIMs is important. Policymakers and CEOs can set the direction – however, we need scientific and well-documented advice on how to implement, and this is what the NZECA alliance convened by UNEP FI can deliver.”
Tim Reid, CEO, UK Export Finance
“ECAs are in a very strong position to deliver more sustainable global trade and to complement the work already being undertaken by the private finance sector, helping to address market gaps to deliver net-zero economies by 2050. NZECA will play an important role in supporting real economy transition and help countries implement their commitments under the Paris Agreement.”
Magnus Montan, CEO, SEK
“Climate change is one of the biggest challenges of our time. As a bank that is part of the Swedish export finance system, we play a crucial role supporting our customers and society at large in transitioning to a low-carbon future. SEK welcomes this initiative and the opportunity to join forces with other export credit agencies to reach the targets set out in the Paris Agreement.”
Lorraine Audsley, Senior Vice-President and Chief Risk and Sustainability Officer, EDC
“As Canada’s export credit agency, we play an important role in supporting the Canadian economy and the global energy transition through our commitment to reach net-zero emissions by 2050, and we are pleased to be a founding member of this UN-convened alliance. Our collective efforts as an ECA community will have a greater impact by sharing our knowledge, learnings and holding one another accountable on the path to net zero.”
Carmen Vara, State Account Business Division Director, Cesce
“Adherence to this initiative is a significant milestone for our company and a step forward among the various actions we undertake in the framework of the Cesce Climate Change Strategy. Its fulfilment is an unequivocal demonstration of the performance carried out in recent years and reaffirms Cesce’s commitment to carbon neutrality.”