The main basis for GIEK's work on environmental and social aspects is provided by the OECD's guidelines of 12 June 2007 (Common Approaches). The guidelines refer to, among others, World Bank standards, and are relatively comprehensive and detailed, with a strong follow-up and control mechanism. They are revised regularly.
GIEK will continue working on the development of the OECD rules and processes with a view to improving them and taking them further.
GIEK's social responsibility policy is also based on the Norwegian Action Plan for Environment in Development Cooperation (June 2006). It states, among other things, that:
"Norway will ensure that its support schemes for private sector development in the South take international environmental commitments, national priorities and the principles of sustainable development into account"
and:
[…] promote environment-based private sector development as a means of creating growth, providing employment and achieving environmental goals (e.g., through the development of environmental technology, renewable energy resources, and water and sanitation technology)"
The environmental and social considerations taken into account in GIEK's risk assessment include:
-
impacts on the natural environment (emissions of greenhouse gases and other pollution, exploitation of resources, biological diversity, etc.)
-
impacts on people and society (social, cultural and economic)
-
specific working conditions in the project under consideration (health, safety and the prevention of child labour, etc.)
GIEK can choose to reject an application if the project under consideration will have serious consequences for the environment and/or social aspects that will not be reduced sufficiently by appropriate measures.
GIEK will be as transparent, predictable and responsible as possible based on Norwegian law and its own framework. This means that we are under an obligation to take companies' requirements with regard to confidentiality and other competitive matters into account.
Go to the OECD's Common Approaches.
