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Monday, December 17, 2012

What's New in EP III - Public Disclosure of Environmental and Social Impact Assessment (ESIA) and Environmental and Social Management Plans (ESMP)

Under EP III, all Category A and (as appropriate) Category B projects located in non-“High-Income OECD” countries will require the borrower to disclose the Assessment or ESIA documentation and the ESMP prepared in relation to a project. These documents should be disclosed on the company’s website if one is available.

Disclosure should be provided to facilitate stakeholder engagement as early in the Assessment process as possible and in any event before construction commences. Reporting to stakeholders should occur on an “on-going basis”. The meaning of “ongoing basis” in the EP is not defined, although, by analogy, the IFC Performance Standards require public reporting by borrowers on an annual basis, or more frequently if appropriate in light of feedback from stakeholder engagement or grievances.

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