Our corporate values include a commitment to uphold best practice environmental and social standards in the transactions we support. To meet that commitment, we incorporate two globally-recognised approaches in its environmental and social assessment of transactions.
Efic is bound by the OECD Common Approaches.
We also voluntarily apply the Equator Principles, a benchmark used by many financial institutions to manage environmental and social risks in projects.
The type of environmental and social review we undertake is determined by the type of support requested, the nature of the project and the role of our client. Some transactions require only a short, desktop review while others require a detailed risk evaluation involving benchmarking and public disclosure.
The steps in the review process include:
- Screening and Classification
- Risk evaluation
Where relevant we may benchmark projects against relevant IFC Performance Standards.
We are required to publicly discloses potential involvement in a transaction where the project that has potential for significant adverse environmental and/or social impacts (Category A project). This means:
- The project’s ESIA and related documents are publicly disclosed via a link on our website to the document(s) published on project sponsor’s website.
- Public disclosure is for a minimum period of 30 days prior to Efic approval.
Click here for more details on our environmental and social review.