We recognize that long-term economic growth and the reduction of poverty and inequality in Latin America and the Caribbean depend on development that is both socially inclusive and environmentally sustainable. To that end, we have made a commitment to maximizing positive environmental and social outcomes of our work while minimizing risks and negative impacts on people and natural capital.
We apply a comprehensive set of environmental and social safeguard policies to the projects we finance to help protect against environmental and social harm, improve development value for our stakeholders, and enable our countries and clients to meet best international practices. These policies are essential to our mission to reduce poverty and inequality in Latin America and the Caribbean.
1. We add sustainability value to development projects through implementing safeguards, managing environmental and social impacts and risks, and bypassing costly future delays.
2. We analyze and classify the environmental and social impacts and risks associated with the projects, assigning safeguard specialists and resources to evaluate the adequacy of assessments, management plans, procedures, capacity and institutional arrangements.
3. We identify additional measures, where necessary, to be included in the project design and operation to ensure that environmental and social impacts and risks are mitigated and managed, and to help our clients to meet and/or exceed global benchmarks in environmental and social performance.
4. We calculate the GHG impacts of our investments, applying best available technologies to reduce emissions generated and to increase avoided emissions.
5. We monitor the safeguard performance in our portfolio, with a particular focus on those projects with high environmental and social risks, to identify potential compliance concerns, as well as areas for improvement.
ENVIRONMENTAL AND SOCIAL IMPACT CLASSIFICATION STATISTICS
# of loans approved in 2015, classified Category A, Environmental and Social Impact
|Category||Amount of loans||# of loans|
SAFEGUARD PERFORMANCE STATISTICS
percentage of sovereign guarantee loans with high environmental and social risks rated satisfactory in the implementation of safeguard mitigation measures in 2015.
GHG ACCOUNTING IN OUR PORTOFLIO STATISTICS
million tons CO2eq emissions avoided from low-carbon development projects approved in 2015.
million tons CO2eq emissions generated from greenfield and expansion projects approved in 2015.
Environmental and Social Impact Assessments are prepared for projects with potentially substantial environmental and social impacts. ESIAs are made available to affected populations and local nongovernmental organizations by the borrower before the Bank conducts its Analysis/Due Diligence Mission and also are on the Bank’s website.