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Ombudsman for Future Generations Takes Part in a Meeting on Sustainable Export Financing

The Ombudsman for Future Generations and the Association of Hungarian Nature Defenders held a working group meeting on export financing and environmental sustainability by involving a broad range of policy-makers and experts on February 4, 2020.

Export financing is gaining increasing significance in Hungary, the policy background of which is represented by the Opening to the East and South strategies. The resources allocated to this area have considerably increased in the recent period and large amounts of private funds have also been added. In this respect, it should also be highlighted that Hungarian-owned companies mean the focus area. It is imperative for Hungary too that the development course should be built on local opportunities, it should satisfy local needs, and minimize local and global environmental impacts. Paying extra attention to the joint achievement of environmental, economic and social goals is a must, which is to be supplemented by the human rights perspectives. Besides keeping Hungarian companies in competition, it is also of key importance that the investments should be sustainable, through which the UN’s Sustainable Development Goals (SDG’s) could also be achieved. From among the SDG’s, goal 17 is of outstanding significance, i.e. ensuring the cohesion of policies, as the export subsidies encompass several areas. Naturally, in all these cases, transparency and the monitoring of results are of key importance.