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Trade with Italy

 

We pay the greatest possible attention to the potential impacts of our activities on the environment in which we live. With this in mind, in addition to implementing programmes to increase energy efficiency, reduce consumption and train staff on these issues, in 2001 we created the Environmental Unit and adopted the Environmental Guidelines, drawing up a procedure for assessing the potential environmental impacts of projects implemented abroad in accordance with the rules and principles contained in the OECD recommendation “Common Approaches on Environment and Officially Supported Export Credits”.

Inside, SACE undertakes to adopt eco-friendly strategies and measures such as reduction of energy consumption, differentiated waste collection, recycling of waste, and the development of mobility management programmes, to meet commuting needs through low-environmental impact solutions, without overlooking specific training initiatives for our employees.

At SACE, analysing the environmental and social impact of projects is an integral part of the assessment process, not only for export credit, as recommended by the OECD, but for many of the insurance products developed to support corporate clients.

We classify the assessed projects into three categories according to the degree of potential environmental and social impact (A - significant, B - moderate, C - negligible) and, where the complexity of the project demands, we monitor its implementation to ensure that it complies with international standards. The environmental monitoring process is applied to most projects with a high potential impact and the level of detail is decided, on a case-by-case basis, in accordance with the nature of the project and the result of the assessment.

Based on the OECD Recommendation, the policy of dissemination of environmental information requires, for all assessed projects:

  • ex ante disclosure, with the publication of the Environmental and Social Impact Assessment (ESIA), of Category A projects within 30 days preceding the final insurance decision.
  • ex-post disclosure, with periodic publication after the insurance decision, of Category A and B projects.

For further information on environmental and social due diligence, read here.  

 

 

Environmental news

The environmental and social impact assessments for Category A projects
under evaluation are subsequently made available, as is,
the information relating to insured Category A and B projects.

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Enviroment News 07 June 2019
SACE has received an application for the Rovuma LNG (Liquefied Natural Gas) Project, for the development of offshore natural gas extraction fields, including offshore pipelines, a liquefied natural gas plant, storage and a marine loading facility, in Northern Mozambique.
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Disclosure ex-post 20 May 2019
Periodic publication after the insurance decision, of Category A and B projects.
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Enviroment News 08 February 2019
SACE is considering support to the Nord Stream 2 Project for construction and subsequent operation of a 1,200 km twin subsea natural gas pipelines through the Baltic Sea, from the Russian coast in the Leningrad region, reaching landfall near Greifswald in Germany. In addition to these two countries, the pipeline will pass through the jurisdictions of Finland, Sweden and Denmark.
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Enviroment News 12 November 2018
SACE has received an application for the Volgafert Project for the construction of an urea production plant in Togliatti (Russian Federation).
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Enviroment News 11 October 2018
SACE is considering support for the Marigold Project which consists of 2 key components that form part of the larger RAPID project: 1) a Refinery and Cracker Complex 2) a Petrochemical Complex C2/C3 Units.
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