Implementation of ECGD's Business Principles

Download or read book Implementation of ECGD's Business Principles written by Great Britain. Parliament. House of Commons. Trade and Industry Committee and published by . This book was released on 2005-04-04 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Export Credits Guarantee Department (ECGD) is the UKs official Export Credit Agency, and is a separate Government Department reporting to the Department for Trade and Industry. It has responsibility for assisting UK exporters of goods and services to win business and helping UK firms invest overseas, by providing guarantees, insurance and reinsurance against loss, taking into account the Governments wider international policy agenda. In light of concerns raised during the Committees previous inquiry into the work of the ECGD (HCP 506-I, session 2003-04; ISBN 0215017714) about ECGDs support for the Baku-Tbilisi-Ceyhan (BTC) pipeline project undertaken by a business consortium led by BP, the Committees report examines the ECGDs compliance with its own business principles in relation to stated Government objectives for sustainable development, environmental protection, and human rights promotion. The report also considers the ECGDs announcement in November 2004 about revised procedures to reduce the risk of bribery and corruption, which many commentators have criticised as a watering down of anti-corruption measures and lacking public consultation prior to revision.