Scott Ludlam (WA, Australian Greens) Share this | Hansard source

asked the Minister representing the Minister for Trade, upon notice, on 13 December 2010:

With reference to the current environment policy and reporting procedures of the Export Finance and Insurance Corporation (EFIC), and drawing on examples of the export credit agencies operating in Canada, the United States of America (US) and Japan:

(1) In terms of establishing international benchmarks for the practice of export credit agencies and their environment policies, is it fair to compare EFIC to other export credit agencies such as Export Development Canada (EDC), Export-Import Bank of the United States (Ex-Im Bank) and the Japan Bank for International Cooperation (JBIC); if not, why not.

(2) Has EFIC adopted an environment policy that is consistent or comparative with the environment policies adopted by EDC, Ex-Im Bank and JBIC.

(3) Is EFIC complying with industry best practice; if so, can a copy of its guidelines, policies or standards outlining industry best practice be provided.

(4) Given that the EDC's implementation and compliance with its Environmental Review Directive is reviewed every 5 years by the Auditor General of Canada: (a) has EFIC's implementation and compliance with its environment policy been independently reviewed and audited by the Australian Auditor-General or an independent third party in the past 5 years; and (b) is there anything in the Export Finance and Insurance Corporation Act 1991 (the Act) that prevents the Australian Auditor-General performing this audit.

(5) Can the Minister confirm that the export credit agencies Ex-Im Bank and JBIC disclose monthly summaries of the minutes of meetings of the Board of Directors, in addition to media releases published, in order to provide a level of public accountability and to keep domestic stakeholders up to date with transactions.

(6) Does EFIC disclose summaries of its Board minutes to the Australian public; if not, is there anything in the Act that prevents EFIC from disclosing these summaries to the Australian public.

(7) Given that the Canadian export credit agency, EDC, has at least one corporate social responsibility (CSR) representative on the Board of Directors, does EFIC have a CSR representative/expert on their Board; if not, is there anything in the Act that prevents the appointment of a CSR representative/expert to the EFIC Board.

(8) With reference to the JBIC and Ex-Im Bank process, where, after receiving submissions on Category A projects, a summary of their benchmarking against International Finance Corporation Performance Standards is published to demonstrate compliance and transparency to domestic stakeholders: (a) how many Category A projects did EFIC disclose in the 2009-10 financial year; (b) does EFIC respond to public submissions on Category A projects beyond a letter of acknowledgement; if not, is there anything in the Act that prevents EFIC from responding to the substance contained in public submissions; and (c) does EFIC publish summaries of project benchmarking; if not, is there anything in the Act that prevents EFIC from disclosing summaries of project benchmarking.