Indirect Impact

Regarding indirect impacts, Credendo strives to conduct its business in a responsible and sustainable way, and promotes responsible and sustainable business practices related to the environment, human rights, combating corruption and promoting sustainable lending to lower income countries.

Credendo has developed due diligence procedures, supported by the necessary policies and internal control systems, to identify, prevent, mitigate and account for how it addresses actual and potential adverse impacts on its operations and business relationships.

• Credendo will not accept support or insurance cover for any transaction if it concludes that bribery was involved. Credendo encourages its counterparties to implement, develop, apply and document appropriate control systems that prevent and detect bribery, as well as compliance with all relevant laws and regulations prohibiting bribery in their own home country or jurisdiction, and in the countries or jurisdictions where they are conducting business.
• Credendo performs Governance, Risk & Compliance (GRC) screening of all business partners (BPs) before acceptance and monitor them throughout the period of association with the BPs. If there is any credible allegation or evidence for acts of corruption in the award or execution of a contract, Credendo will report such information to the judicial authorities. In addition, as part of our new strategy, Environmental, Social and Governance screening will be executed for all insured of Credendo Group.
• Applications for cover submitted to Credendo – Export Credit Agency are subject to environmental and social due diligence to identify, consider and address the potential environmental, social and human rights risks relating to applications for officially supported export credits. Indeed, while striving for economic prosperity and social progress, Credendo also considers the effects that businesses are having on the environment and urges companies to implement measures to adequately avoid, mitigate and address social impacts.
• To obtain more information on the E&S due diligence procedure applied to Credendo – Export Credit Agency applications, please consult our web page.
• Because Credendo considers the UN Sustainable Developments Goals (SDGs) a roadmap, 11 SDGs have been identified to which Credendo contributes by providing support to projects related to, for example, drinking water systems, waste water treatment, solar panels, hospitals, wind farms.