ERM Annual Review 2008 - (Page 11) Equator Principles – What’s New? Among our clients, demand for impact assessments prepared in accordance with the Equator Principles (EP) is not new. These voluntary principles incorporate environmental and social aspects, and are based on the IFC’s performance standards and EHS guidelines. The number of financial institutions adopting the EP now exceeds 60, and their influence on project finance has greatly increased. Organizations seeking finance for major projects now face new assessment and disclosure challenges during planning to ensure compliance with EP-based covenants during implementation. Value in a Life Cycle Approach As well as completing impact assessments under the Principles, we are routinely engaged by EP financial institutions to conduct gap analyses on funding applications to determine conformance, and in some cases suggest improvements that may be required. Areas typically identified for improvement include grievance procedures, managing the performance of contractors, stakeholder engagement, documenting consultation programs, resettlement plans, and treatment of biodiversity and ecosystem service aspects. Over the last year, these EP project reviews have included the expansion of the Panama Canal, chemical investments in Egypt and mining projects in Madagascar, Guinea and Cameroon. As the ESHIA landscape increases in complexity, the value of an integrated approach that meets the needs of project proponents, regulators and stakeholders throughout the development cycle becomes even clearer. ERM was part of an alliance contract team established to build five new village sewerage systems and five treatment plant upgrades as part of the Bega Valley Sewage Program (BVSP) in rural Australia. ERM was responsible for the environmental and community aspects of the program, from initial concept identification, through impact assessments and approvals, to construction. Transportadora de Gas del Perú Developing a biological monitoring program for an area crossed by a liquefied natural gas transport system. Gabriella Gonzalez, Lima, Peru Confidential Client Assessing environmental performance at a copper and gold mining site in Indonesia. Reed Huppman, Eleonore Mangin & Sunrita Sarkar Washington DC, US Alltel Identifying cultural and environmental impacts at current and proposed telecommunication tower sites. Craig Eckerle Rolling Meadows IL, US Compañia Eléctrica El Platanal S.A. Updating an environmental management plan for expansion of a reservoir in Peru. Jorge Malaga, Lima, Peru ERM Annual Review 2008 11
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