Policy and procedure
EFIC’s corporate values include a commitment to uphold best-practice environmental and social standards in the transactions we support.
Our Policy for environmental and social review of transactions (Policy) sets out the principles that EFIC applies to meet its corporate values, and our Procedure for environmental and social review of transactions (Procedure) describes how we implement the Policy.
The Policy and Procedure define how EFIC integrates the principles of ecologically sustainable development into transaction considerations.
EFIC incorporates two globally-recognised approaches in its environmental and social assessment of transactions:
In accordance with EFIC’s Policy, EFIC discloses in a Category A register its potential involvement in certain transactions associated with a project that has potential for significant adverse environmental and/or social impacts (known as a Category A project).
In accordance with EFIC’s Procedure:
- EFIC discloses in an archive Category A transactions it has considered since 2000
- from 1 July 2011, EFIC will disclose in a register transactions it has supported in the current financial year.
Policy and procedure review
During 2009 and 2010, EFIC undertook a review of our 2005 Environment Policy and prepared the new Policy and Procedure for environmental and social review of transactions. Read about the review process.
The EFIC Board adopted the Policy on 17 February 2011.
Every two years, EFIC will arrange an audit of the application of the Policy and Procedure by an independent environmental and social expert. Audit reports will be provided to EFIC’s Board and to the public. The first audit will be conducted within two years of the Policy being adopted.