To ask the Secretary of State for Business and Trade, pursuant to the Answer of 17 October 2023 to Questions 200185, 200186 and 200187 on UK Export Finance: China, what (a) labour standards and (b) other human rights due diligence procedures are applied to prospective UK Export Finance partner companies.
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 17 October 2023 to Questions 200185, 200186 and 200187 on UK Export Finance: China, what her policy is on public funds being directed to Chinese companies involved in the Belt and Road Initiative through (a) UK Export Finance and (b) other public bodies.
As advised in the response to the previous questions (200185, 200186 and 200187), UK Export Finance (UKEF) follows the UK government’s policy towards engagement with China set out in the Integrated Review and elsewhere.
UKEF is committed to high standards of environmental, social and human rights (ESHR) risk management. Its specialist ESHR team reviews projects for ESHR risks and impacts before any decision on support is made. If a decision is taken to provide support, UKEF undertakes ESHR monitoring of the project for the duration of that support.
UKEF’s due diligence also includes appropriate assessment of attendant risks. UKEF charges a risk-based premium to companies for its support, and has a robust recovery process in place to protect the taxpayer and offset potential losses.