World Bank guidance notes for borrowers open for comment
THE World Bank’s Environmental and Social Framework draft guidance notes for borrowers is now open for public comment until December 15.
The Environmental and Social Standards, which form an integral part of the World Bank’s new Environmental and Social Framework (ESF), set out requirements for borrowing countries relating to the identification, assessment, and management of environmental and social risks and impacts associated with projects financed by the Bank through Investment Project Financing (IPF).
The bank is preparing guidance notes for borrowers as a resource to help explain requirements contained in the Standards and provide helpful examples. The guidance notes for borrowers are not mandatory. Projects and their potential risks and impacts are context specific.
The notes are intended to provide helpful advice but do not substitute for the application of professional expertise and the exercise of sound judgement in relation to any specific project. The guidance notes for borrowers will be revised from time to time and supplemented with additional tools and resources, including templates, checklists and other materials.
Comments can be sent to email@example.com by December 15, 2017. The World Bank particularly welcome comments that aim to improve the usefulness of the notes in helping borrowers implement the standards, taking into account the non-mandatory nature of the guidance notes and the scope of requirements contained in the standards.
The finalised guidance notes are expected to be issued in early 2018.
A high-level summary of input received will be posted here together with the finalised guidance notes for borrowers. A high-level response matrix will be published within three months.
About the ESF
The World Bank Environmental and Social Framework sets out the World Bank’s commitment to sustainable development, through a bank policy and a set of Environmental and Social Standards that are designed to support Borrowers’ projects, with the aim of ending extreme poverty and promoting shared prosperity.
The ESF comprises a vision for sustainable development, which sets out the bank’s aspirations regarding environmental and social sustainability; the World Bank Environmental and Social Policy for Investment Project Financing, which sets out the mandatory requirements that apply to the Bank; and the Environmental and Social Standards, together with their Annexes, which set out the mandatory requirements that apply to the borrower and projects.
The World Bank Environmental and Social Policy for Investment Project Financing sets out the requirements that the Bank must follow regarding projects it supports through Investment Project Financing. The Environmental and Social Standards set out the requirements for borrowers relating to the identification and assessment of environmental and social risks and impacts associated with projects supported by the bank through Investment Project Financing.
The Bank believes that the application of these standards, by focusing on the identification and management of environmental and social risks, will support borrowers in their goal to reduce poverty and increase prosperity in a sustainable manner for the benefit of the environment and their citizens. The standards will: (a) support borrowers in achieving good international practice relating to environmental and social sustainability; (b) assist borrowers in fulfilling their national and international environmental and social obligations; (c) enhance non-discrimination, transparency, participation, accountability and governance; and (d) enhance the sustainable development outcomes of projects through ongoing stakeholder engagement.
The World Bank’s Environmental and Social Framework draft guidance notes for borrowers is now open for public comment until December 15.