Geneva, 14 November 2025 – The UN-convened Net-Zero Export Credit Agencies Alliance (NZECA) launches its first progress report today, in conjunction with Trade and Finance Day at COP30. Highlights include that, while all full members had already committed to aligning their portfolios with net-zero emissions by 2050, three members have advanced their targets to 2045, and four members are reporting measurable emissions reductions and lower portfolio greenhouse gas intensity. Alongside the report, the alliance releases a paper on tailoring greenhouse gas (GHG) accounting methodologies for trade finance.

Close to two years after its creation at COP28 in 2023, the Alliance’s founding members have started setting intermediate science-based portfolio decarbonization targets. These targets, guided by the NZECA Target Setting Protocol published in November 2024, cover high-impact sectors including energy, cement production, and aviation. Following their commitment, founding members have also ended new direct support for the international unabated fossil fuel energy sector and published fossil fuel policies that support this commitment.

“At this pivotal moment for advancing the Paris Agreement, the Net-Zero Export Credit Agencies Alliance is demonstrating how public finance can lead by example,” UNEP FI Head Eric Usher said. “The case for climate action has never been clearer: aligning with net zero not only protects people and planet, it also de-risks portfolios and unlocks new markets and innovative product development.”

The report goes beyond reporting on target setting to tracking the Alliance’s early progress. It provides insights into methodological developments and maps the instruments used by NZECA members to implement their commitments and progress towards their individual decarbonization goals. Members have already put in place client engagement mechanisms, sustainable products, risk management instruments and data management systems to ensure steady and traceable progress.

It includes examples of how export finance is accelerating systemic change through ECAs coming together with their peers, commercial banks, and project developers on multi-billion-dollar transition projects. One example is the Bałtyk 2 and 3 offshore windfarms in Poland, a project that will deliver clean power to about two million homes.

“Aligning export finance with net-zero pathways is not just the right thing for the planet – it’s good business,” said Tim Reid, Chief Executive Officer, UK Export Finance, Chair of NZECA’s Steering Group. He continued, “NZECA’s first progress report is a significant milestone that demonstrates real action – members are turning commitments into measurable progress.”

Together, the progress report, target setting protocol, and carbon accounting paper provide the foundation for export credit agencies worldwide to begin decarbonizing their portfolios in line with climate science. The Alliance will continue developing methodologies and tools to help its members advance towards their commitments and the wider industry take part in the global transition to low-carbon economies.

NZECA brings together ten export credit agencies and export-import banks from nine countries across four regions, supporting USD 338 billion in international trade. Of these, seven organizations are full members and three are affiliates. The affiliate membership programme is designed to help participants strengthen internal climate policies and build the capacity needed to meet the ambition level of full members.

Download NZECA’s First Progress Report here.

Download NZECA’s Greenhouse Gas Accounting at Export Credit Agencies and Export-Import Banks Paper here.

Learn more about NZECA and its members here.