EKN launches new guarantee to promote green export transactions
EKN is launching a new guarantee for exports that contribute to the climate transition. The Green Export Credit Guarantee, enables exporters and banks to insure up to 100 per cent of the value of a transaction to protect themselves from the risk of non-payment.
“Based on mining, steel, forestry, energy, transportation and telecoms, Swedish industry offers sought-after solutions for many global challenges. The new Green Export Credit Guarantee presents one element for enabling more export transactions that contribute to the climate transition,” says Anna-Karin Jatko, Director General, EKN.
In order to make use of the new Green Export Credit Guarantee, the export transaction must be for green products or products with an end use as part of a green activity.
This is the second green guarantee launched by EKN. The original Green Credit Guarantee, launched in 2021, was developed for green investments and working capital needs within Sweden, whilst the new Green Export Credit Guarantee focuses specifically on green export transactions.
“These two guarantees complement each other and increase opportunities for Swedish companies to export climate-smart products and solutions. With these two guarantees, EKN wants to promote green activities in Sweden and abroad,” says Anna-Karin Jatko.
EKN follows the EU taxonomy’s classification of green activities that contribute to climate change mitigation and climate change adaptation to determine whether an export transaction can be covered by the Green Export Credit Guarantee.