Interactions with clients/investees/business partners regarding environmental and social risks and opportunities

Interactions with clients/investees/business partners regarding environmental and social risks and opportunities

• Reference Number: FS5
• Related Status: Reported
• GRI Status: Core GRI Indicator

The EIB’s interaction with its clients on a technical level is ongoing from the formulation of the operation onwards. Early identification of environmental and social risks is crucial and is undertaken together with the client – in the first instance by the relevant contact attributed to the operation and, once the impact is confirmed, by relevant specialists of the Bank. Establishment of environmental and social opportunities informing the operation’s final design, where feasible, is primarily managed by the technical, non-financial contact officer in charge, guided principally by relevant sectoral guidelines and best practices.

As proposed conditions for environmental and social matters for each project must be related to the roles and responsibility of the parties signing the document, the Bank discusses these during appraisal, with the client and other parties, to ensure there is sufficient appreciation and shared understanding both of the EIB standards and expectations as well as of where the responsibilities lie.

Such interaction is envisaged as ongoing throughout the life cycle of the operation, thereby further serving the purposes of implementation and monitoring.