How does EDC benchmark projects against international standards?
The environmental professionals of our Environmental Advisory Services department benchmark projects to international standards. They review the potential environmental and social impacts of a project and determine whether the impact is at acceptable levels, based on their professional judgment and in accordance with international standards. EDC refers to the World Bank Group’s standards and guidelines to conduct project reviews. Project finance transactions are benchmarked against the IFC Performance Standards as referenced in the Equator Principles and the OECD Common Approaches. Non-project finance transactions are benchmarked against World Bank Safeguard Policies and related guidelines. If other International Financial Institutions (IFIs)3 are involved in a project we are reviewing, we may also use the standards of these institutions as benchmarks. If a transaction meets international standards, it can be supported by EDC.
