New EBRD Performance Requirements

The European Bank for Reconstruction and Development (EBRD) new environmental and social policy was approved on 12 May 2008.

The policy has more explicit social provisions. In some areas, the EBRD’s requirements exceed IFC’s requirements. This includes EBRD’s reference to obtain a “consent” where operations are located in areas with indigenous populations. Reflecting its membership, EBRD also refers to a number of European provisions related to the Aarhus Convention on Public Participation and the EU EIA Directive.

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2 Responses to New EBRD Performance Requirements

  1. Andrew Petsonk says:

    Rachel,
    I note your statement that “In some areas, the EBRD’s requirements exceed IFC’s requirements.” Do you (or anyone else that reads this) know of any documents that specifically compare EBRD’s and IFC’s Environmental and Social Policies and Performance Standards?

    • At the WBG ANNUAL MEETINGS: IFC’s Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information

      The participants noted that:
      Part of the update process could be making a comparison of how IFC performance standards compare to other IFIs safeguard policies (i.e., ADB, EBRD).

      The IFC Reponse was that:
      IFC acted as a catalyst and raised the bar among the public and private sector by introducing the PSs in 2006. Since this time, other institutions have developed newer standards and we will benchmark against these to learn from their experiences.

      Which suggests that although it has been recognised that such a comparison would be helpful, an official document setting this out is not available.

      The EBRD Environmental Discussion Policy states that one of the objectives of the revision is:
      To provide affirmation to clients and co-financing/syndication partners that the EBRD’s requirements afford at least the same level of environmental and social safeguards as those of the IFC and the Equator Banks, whilst reflecting EBRD’s region of operation with its specific characteristics, governance structure, mandate, operational policies and staff resources, and its commitments under the European Principles for the Environment to which EBRD is a signatory.

      Which allows further understanding as to why they go beyond the IFC’s requirements.

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