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EXIMBANK follows the best practice and international experience to manage environmental and social risks relating to providing credit and guarantee support to prevent and minimize negative environmental and social impacts and to achieve positive effects. These include:

  • Increasing operation and energy efficiency,
  • Reduction of greenhouse gases and air pollutants emissions,
  • Creation of new jobs and compliance with health&safety requirements
  • Extension of transport infrastructure and life supporting facilities (water supply, district heating),
  • Increasing of share of raw materials recycling, and
  • Support programs of Industry and innovations development

Social and environmental impacts include project-related impacts on environment and its components, such as air emissions, greenhouse gas emissions, effluents, hazardous waste, noise and vibrations and also impacts on local population directly affected by the project, personnel involved in project construction and operation as well as general effects on community health, safety, security and human rights.

To manage environmental and social risks of potentially supported projects the Bank undertakes Environmental and Social Due Diligence following Recommendation of The Council on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence of 07.04.2016 (The “Common Approaches”) and internal procedures.

Social and environmental aspects of export-related projects are taken into account at every stage of decision-making process on applications for officially to provided credit and guarantee support. The Bank informs its counterparties about its environmental and social values, standards and requirements.

When supporting large scale significant projects, the Agency also actively participates in the process of environmental and social impacts assessment, interacts with independent, recognized experts in the field, contributes to achieving the greatest transparency, including arrangement of public consultations with population, whose rights and well-being may potentially be affected by the project.

The Bank allows to achieve compliance of the supported projects with national and international environmental and social requirements as well as with the world's best practices.

Social and environmental due diligence process consists of the following steps: 

1

Screening

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Preliminary assessment of initial data to identify applications that should be classified and, where appropriate, subsequently reviewed.

2

Classification

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All the projects are categorized based on its environmental and social risks:

Category A: a project has the potential to have significant adverse environmental and/or social impacts, which are diverse, irreversible and/or unprecedented.

Category B: a project with medium potential environmental and/or social impacts less adverse than those of Category A projects.

Category C: a project has minimal or no potentially adverse environmental and/or social impacts.

3

Environmental and Social Review

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In cases of high or medium environmental and social risks (projects of category A or B) the Agency undertakes detailed environmental and social analysis of compliance with national requirements and international standards. The Applicable International standards include:

Where Major Multilateral Financial Institutions also participate in supporting the project, environmental and social review may include a benchmarking against the relevant aspects of the standards of these Institutions as well.

4

Evaluation and Decision making

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Taking into account the set of parameters including financial, economic, reputational, environmental and social. In order to assure effective optimisation of transactions intended for official support, the Agency together with its clients and partners agrees on measures on prevention, minimization or mitigation of potential environmental and social impacts of the project and (or) improvement of its positive environmental and social effects, considering the particular project parties, size of their business, specific features of their activities, type and scale of potential negative impacts, existing international standards applicable to the project and the Agency leverage in the project.

5

Monitoring

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The Agency follows the project through the whole insurance period and obtains up-to-date information on actual project impacts and project participants actions on the revealed risks mitigation.
6

Disclosure of information

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Following the OECD “Common Approaches” and internal procedures, the Agency discloses information on Category A projects under consideration (ex – ante disclosure) as well as information on Category A and B projects covered each year (ex – post disclosure). Such information includes brief project description, international standards applied and type of documentation analyzed.

For further information on environmental and social due diligence please see the page: Category A and B projects