Environmental and Social Risk is the new hot topic – with the rising costs associated with failing to evaluate environmental and social risk adequately, businesses are facing up to the challenge.
Rachael Bailey is a Senior Environmental Consultant who works with financial institutions and project sponsors, advising them on how to manage their environmental and social risks. Advising on environmental performance and compliance with the Equator Principles, ADB, IFC and Worldbank Guidelines, EU Legislation and National legislation and regulations, in Hungary, Serbia, Albania, Turkey, India and Mongolia.
This site considers current news, key issues, articles, and new regulatory and guidance information from different viewpoints, including banks, legal firms, project sponsors, consultancies and NGOs in order to provide a wide spectrum of opinions. In the interest of balance, the site provides information and conflicting opinions from those who support and oppose the approaches – to enable readers to form their own opinions, and to demonstrate why risk management so important.
The various approaches and guidelines have provided invaluable risk management tools for Financial Institutions, and while there will always be critics of some of the finer details, the overall benefits have been overwhelming and far reaching. The banks have shown a highly impressive degree of co-operation and innovation in their approach to environmental and social risk management.
These benfits include:
- Improved asset performance;
- Enhanced recognition of shareholder needs and preferences;
- Reassurance for senior management that risk are being managed robustly; and
- Reduced opposition through engagement of local communities and shareholders.