The Environment & Social requirements which the investee needs to fulfil are agreed earlier as part of legal or any other agreement. The investor gives the requirements in the form of “Terms of Reference” and may ask the investee to follow international standards like International Financial Corporation Performance Standard ( IFC PS) or Equator Principles along with the legal requirements as applicable. It is also essential to monitor the Environment & Social Performance since the performance parameters & risks changes with time as the project progresses.
What can Consultivo do for you in the field of Environment & Social Performance Monitoring
Consultivo can act as an independent third party agency and conduct Environment & Social Performance Audit based on the requirements of the investee and the frequency of the monitoring. We conduct annual environment & social performance monitoring based on IFC Performance Standard as well as Equator Principles. Our team of environmental & social experts identify the gaps in the existing system & highlight the same in the Annual Environment & Social Performance Report ( AESPR) & suggest suitable corrective action against the non conformities. The identification of non conformities helps in identification of the existing as well as the potential risks & thus mitigates the risks in the entire life cycle of the project.
The Environment & Social performance monitoring benefits both the investor & the investee by
- Acting as a tool by the investor to verify the compliance as agreed by the investee
- Identifying the Environmental & Social risks in the entire life cycle of the project & thus benefits both the investor & the investee
- Preventing loses & damage to the project by identifying the risks & mitigating the same through corrective action plan