Environmental, social & climate assessment
Assessment and monitoring of the environmental, social and climatic impacts of credit insurance and investment projects.
1. Environmental and social assessment
Bpifrance Assurance Export insures international projects while taking into account environmental and social impacts, as well as human rights. Assessing the environmental and social impacts of projects is an integral part of the guarantee application review process.
The State guarantee may not be granted for the export of goods and services for operations whose direct purpose is the exploration, production, transport, storage, refining and distribution of coal or liquid or gaseous hydrocarbons or the production of energy from coal. Except for operations having the effect of reducing the negative environmental impact, improving the safety of existing installations, or their impact on health, without increasing the lifespan or production capacity, aimed at the dismantling or conversion of these installations (Article 152 - LAW No. 2022-1726 of December 30, 2022 on finance for 2023).
Bpifrance Assurance Export carries out its environmental and social assessments in accordance with the OECD Recommendation on Common Approaches to Officially Supported Export Credits and Environmental and Social Due DiligenceThese Common Approaches apply to all types of officially supported export credits intended for exports of capital goods and/or services (except exports of military, aeronautical, space or agricultural products) and which have a repayment term of two years or more.
Furthermore, the assessment also aims to ensure that the projects concerned comply with the local regulations of the host country and the relevant international standards, mainly those developed by the World Bank (WB) and the International Finance Corporation (IFC), taking into account environmental, social and human rights aspects. The most stringent standards will be applied.
Environmental and social aspects are therefore part of the criteria for Bpifrance Assurance Export to accept credit insurance projects as guarantees, particularly if the request exceeds €10 million, if they are located in a sensitive area, or if they violate human rights. Investment insurance projects are also covered.
2. In practice, how do we carry out the ESC assessment?
Any request for credit insurance/investment insurance is accompanied by information concerning the Environmental and Social Assessment which may in particular relate to:
- Project definition/sector
- Amount of the transaction (criterion of more or less than €10M)
- Location – geographical scope
- Compliance with international standards (common approaches, IFC, European taxonomy, etc.)
This is followed by a environmental and social education, which may require, as part of the evaluation and monitoring of projects, additional information from stakeholders.
The environmental and social information collected should enable Bpifrance Assurance Export to classify the project into one of three categories (A, B, C) according to the significance of its potential impacts. Each category has its own environmental and social risk management process and specific requirements. Depending on the risk, environmental and social conditions may be included in the policy.
The 3 categories of projects
Project with significant potential impacts, for which an environmental and social impact assessment (ESIA) is required.
This category of operations requires an in-depth environmental and social analysis through specific documents.
This analysis can also lead to the establishment of an Environmental and Social Action Plan (ESAP), an Action and Resettlement Plan (PAR) where appropriate.
Risk monitoring will be required
Project with lesser potential impacts for which additional information may be required.
This category of operations requires a less detailed environmental and social analysis. Risk monitoring is assessed in light of the specificities of the project.
Project with little or no environmental and social impact.
This category of operations does not require a detailed environmental and social analysis. No risk monitoring will be required.
If necessary, the Bpifrance Assurance Export guarantee may be subject to environmental and social conditions in order to ensure compliance with current standards (monitoring report, site audit, etc.).
Our transparency obligations
Bpifrance Assurance Export follows transparency obligations concerning its activity, in accordance with the OECD Common Approaches.
The transparency system is twofold:
Ex ante transparency – Before the decision on guarantee is taken
For projects under review which have been classified in category A only.
This ex-ante transparency is carried out in particular for the attention of civil society and local populations affected by the projects via the Bpifrance Assurance Export website.
In accordance with the OECD Common Approaches, Bpifrance Assurance Export will make publicly available documents (ESIAs) transparent. At the request of the buyer or exporter, these documents may have been previously redacted of information whose disclosure would undermine the commercial or industrial confidentiality of the export.
The ex-ante transparency period begins on the date the information is made available, for at least 30 calendar days before the final commitment to provide support.
This ex-ante information is transmitted in accordance with the information obligations arising from the OECD Recommendation “Common Approaches to Officially Supported Export Credits and Environmental and Social Due Diligence” and does not imply any prior validation or approval by Bpifrance Assurance Export.
Ex post transparency – After the decision to take the guarantee
For projects classified in category A or B and those relating to contracts of more than €10 million, obtained by French companies and benefiting from a Bpifrance Assurance Export guarantee.
It is carried out on a quarterly basis.
It provides a description of the projects and, where applicable, essential information on their environmental and social consequences as well as Bpifrance Assurance Export's monitoring requirements.
List of projects covered by guarantee
Bpifrance Assurance Export publishes information on major contracts obtained by French companies and benefiting from a state guarantee issued by Bpifrance Assurance Export. This list is updated quarterly. It provides a description of the projects, essential information on their environmental and social consequences and, where applicable, Bpifrance Assurance Export's risk monitoring requirements. Export contracts exceeding €10 million and/or having been classified from an environmental and social perspective.
List of guaranteed contracts Q1 2026
List of guaranteed contracts (2004-2025)
3. Get an environmental bonus
Bpifrance Assurance Export, Bancassureur du Climat and the French State are offering preferential export guarantee conditions for projects that are sustainable from a climate and environmental point of view, in particular in connection with the 2020 report to Parliament on the Climate plan for export financing.
In this context, the Environmental Bonus is available for all your Credit Insurance requests (under review or promises of guarantees) meeting the eligibility criteria.
For more information on the environmental bonus.
4. Bpifrance Assurance Export's climate initiatives
Adherence to the Equator Principles (EP)
The Equator Principles provide a framework for the financial sector to identify, assess, and manage environmental and social risks in projects. 129 financial institutions (commercial banks, export credit agencies, etc.) worldwide are currently signatories to the Equator Principles. By joining the Equator Principles, Bpifrance Assurance Export will strengthen its environmental, social, and climate practices, complementing the standards already applied through the OECD Project Framework, and thus ensure that guaranteed projects reflect good environmental and social management practices.
By joining the Equator Principles as a probationary member, the Export Credit Agency (Agence de Crédit Export) marks a significant step in strengthening its environmental, social, and international roadmap. This new partnership will not only allow Bpifrance Assurance Export to contribute to a recognized international framework, but also pave the way for a more sustainable future for investment and trade.
Affiliation with the Carbon Neutral Export Credit Agencies Alliance (NZECA)
The UN-established Carbon Neutral Export Credit Agencies Alliance (NZECA) brings together leading public financial institutions committed to achieving carbon neutrality by 2050 by supporting the decarbonization of trade and facilitating joint public and private finance.
By becoming affiliated with NZECA, Bpifrance Assurance Export reinforces its commitment to greater sustainability, promoting a just transition and supporting the goal of carbon neutrality.
Bpifrance Assurance Export is a stakeholder in several international climate initiatives. It initiated the creation of the international coalition Export Finance for Future and was the first credit insurer to adopt the Poseidon Principles.
Export Finance for the Future
Launched on April 14, 2021, by France and six other countries, an international coalition "Export Finance for Future (E3F)" aims to direct export financing towards sustainable projects consistent with the climate objectives of the Paris Agreement. The coalition currently includes 10 countries.
Consult the announcement of the General Directorate of the Treasury
Principles of Poseidon
An initiative launched by international banks active in maritime transport financing, and signed in 2020 by Bpifrance Assurance Export, the Poseidon Principles allow, according to a common methodology, the measurement and publication of the carbon impact of their portfolios of civil vessels.
Consult the Poseidon Principles website
Stop public funding for fossil fuel projects abroad
Furthermore, during COP26, France decided to end public financing abroad of certain fossil fuel projects from the end of 2022 by signing the Statement on international public support for the clean energy transitionThis commitment is reflected in the latest finance laws (see article 152 of Law No. 2022-1726 of December 30, 2022 on finance for 2023).
5. Carbon footprint 2024
In line with its climate commitments, Bpifrance Assurance Export publishes the carbon footprint of its civil credit insurance portfolio.
Presentation of the carbon footprint of Bpifrance Assurance Export
Bpifrance Assurance Export Carbon Footprint Report
6. Reference texts
OECD Recommendation on Common Approaches to Officially Supported Export Credits and Environmental and Social Due Diligence
The Common Approaches apply to all OECD member countries and are reviewed periodically. The latest version was adopted on 7 April 2016 by the OECD Council. It strengthens provisions related to greenhouse gases, the social impacts of projects, and human rights.
Furthermore, Annex IV of the OECD Arrangement encourages the export of advanced environmental technologies and applies in particular to projects contributing to the mitigation of climate change.
The performance criteria of the International Finance Corporation (IFC)
The IFC's eight Performance Standards (PS) define environmental, social, health and safety sustainability criteria that must be met throughout the life of investments.
Discover the eight performance standards
The World Bank Group's sectoral environmental, health and safety guidelines
Environmental, Health and Safety (EHS) Guidelines are technical reference documents containing general and specific examples of Good International Industrial Practice (GIIP).
Discover the World Bank's EHS guidelines
The World Bank's environmental and social safeguard policies
The World Bank's current environmental and social policies (ESPs) are called Safeguard Policies. They ensure that projects comply with international environmental and social standards.
The 2020 report to Parliament: Climate plan for export financing
In October 2020, the Government submitted a report to Parliament on its climate strategy for public export financing.