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Understanding IFC's Environmental and Social Review Process

Understanding IFC's Environmental and Social Review Process

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Published by IFC Sustainability
Understanding IFC's Environmental and Social Review Process (flyer)
Understanding IFC's Environmental and Social Review Process (flyer)

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Published by: IFC Sustainability on Mar 05, 2012
Copyright:Attribution Non-commercial

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02/07/2014

 
Understanding IFC’s Environmental andSocial Due Diligence Process
IFC and clientagree to worktogether Publicly disclose theproject and consult withlocal communityFinalize the investmentagreementOngoing monitoringand disclosureReview and Agree on NextSteps
E
&
S 
REQ
IFC discloses its ESRS along withrelevant sponsor E&S documentationon the IFC website. The clientdiscloses project E&S assessmentinormation locally. Projects willengage and consult with AectedCommunities to ensure theirawareness o the project, andprovide or an ongoing constructiverelationship.For projects with potential signifcantadverse impacts on AectedCommunities and projects involvingIndigenous Peoples, IFC will makea determination o the level o community support or the project.Once the World Bank Group Board o Directors approves the project:
• The investment agreement is
mutually agreed and fnalized.
• The nal agreement reects the
terms o the ESAP plus any other E&Scommitments.
• Funds are disbursed once the client
meets disbursement conditions.Monitoring occurs on twolevels:
• Site visits from IFC staff.• Submission of the client’s
Annual Monitoring Reporton progress in meeting theE&S terms o the investmentagreement.Engagement between the clientand Aected Communitiesshould be ongoing. IFC will
disclose the client’s progress
against the ESAP.During monitoring, IFC and theclient may identiy opportunityor project enhancementthrough IFC Advisory Services.
IFC’s Compliance Advisor/
Ombudsman (CAO) may alsoprovide additional oversight.The CAO is an independentofce that impartially respondsto E&S concerns o AectedCommunities, and aims toenhance IFC accountability andoutcomes.The client receives copies o:
• IFC’s Performance Standards,• Relevant World Bank Group
Environmental, Health and Saety (EHS)Guidelines, and
• Other supporting documents.
 The IFC Environmental and Social (E&S)team:
• Asks the client to provide key
inormation regarding assets andmanagement o E&S risks and impacts.
• Assesses the project against the
Perormance Standards and EHSGuidelines.
• May meet with company, government,
and local stakeholders to discuss E&Saspects o the project.
• Generates an E&S Review Summary
(ESRS) and an E&S Action Plan (ESAP). TheESRS and ESAP are reviewed and approvedby the client.For IFC Clients

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