Ordinary site version
Размер шрифта:
Color schema:

Corporate Social Responsibility


Corporate sustainability is very important for Credendo. We conduct our business in a manner that is socially responsible and forward-looking, taking into consideration our impact on the environment, on society, on the economy, on our stakeholders and on our people. We pay attention both to the impact of our own activity (direct impact) and to the impact of the transactions we support (indirect impact), and these considerations are also reflected in our governance. We go further than the legally required obligations to act sustainably as a corporation.

Credendo exercises its activities in a financially sustainable way. For Credendo – Export Credit Agency, working under the guarantee of the Belgian State, the premiums collected from its insured companies shall be risk-based and shall not be inadequate to cover long-term operating costs and losses. This commitment is in conformity with the OECD Arrangement on Officially Supported Export Credits (see the OECD website), integrated in the EU Council Directive 98/29/EC.  Credendo – Export Credit Agency does not receive credits from the Belgian State budget.  The Credendo subsidiaries are acting as private entities under the supervision of the insurance supervision regulators.

Credendo promotes equal opportunities, diversity, non-discrimination and gender equality in connection with recruitment and employment. Credendo takes care of its employees by promoting healthy lifestyles both at work and at home. Our health and well-being strategy encompasses raising awareness among employees of their own health status and encouraging them to adopt healthy behaviours.

Credendo continuously strives to provide its services with full due diligence and professionalism, with respect for honesty and business ethics, and compliance with any laws, rules, regulations and best practices pertaining to our sector. All Credendo entities share the same values of Customer Intimacy, Reliability and Respect.

These core ethical principles are enshrined in our Group Integrity policy, which contains a uniform set of rules that all Credendo employees and collaborators should adhere to, both internally and externally. The principles are consistent with the internal standards and values of Credendo, without prejudice to local legislation and/or prudential regulations. Our Group Code of Conduct expands on these integrity principles in practical guidelines for our staff members to assist in their day-to-day activities.

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 encourages its counterparties to implement the OECD “Guidelines for Multinational Enterprises”, a set of recommendations which can help companies to avoid and address adverse impacts in areas such as employment and industrial relations, human rights, the environment, information disclosure, combating bribery, consumer interests, science and technology, competition, and taxation.

While striving for economic prosperity and social progress, Credendo also considers the effects that businesses are having on the environment and urges companies to take into account the local populations.

Credendo will only take an insurance application into consideration if:

  • the application is compliant with applicable national and international sanction regulations;
  • the applicant conforms to the environmental and social national legislation;
  • the project and transactions are compliant with local laws and regulations;
  • Credendo receives all information requested to assess the environmental and social risks and impacts;
  • Credendo considers that the environmental and social impacts are acceptable.

Credendo ensures that the indebtedness of poor countries under the HIPC initiative (Highly Indebted Poor Countries) does not increase further by only accepting projects for such countries if they constitute a priority for their economic development. This specific commitment is in line with the OECD Recommendation on Sustainable Lending Practices.

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. 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.

Discover more about Credendo – Export Credit Agency's corporate responsibility at this link.