Five European multilateral financing institutions, including NEFCO, have agreed to a common approach to environmental management associated with the financing of projects. The financial institutions CEB, EBRD, EIB, NIB and NEFCO are today launching a joint sourcebook which outlines the environmental legislation, including principles and standards, adopted by the five multilateral financial institutions.
The Sourcebook is designed to be used by bank staff and third parties with an interest in the banks’ project financing activities. The sourcebook is also to enable project sponsors to identify and understand the EU environmental standards when dealing with projects that are supported by banks committed to the European Principles for the Environment (EPE).
The focus of the document is on project-specific standards across a range of key sectors in which the EPE banks concentrate their lending activities. The sectors covered include energy, infrastructure, metal production and processing, waste management, agriculture and the chemical and extractive industries. Moreover, the Sourcebook offers cross-sector guidance on issues such as the Environmental Impact Assessment (EIA), environmental management systems and environmental liability.