GIEK is committed to integrating environmental and human rights aspects into our risk assessments. Our aim is to provide practical advice that facilitates the management of risk and potential negative impacts in order to decrease the operational, financial, and reputational risks related to specific projects.
GIEK’s policy on the environment and human rights is in line with international commitments and Norwegian governmental policies. GIEKs environmental and human rights due diligence policy is based on the implementation of the OECD’s «Common Approaches on Environmental and Social Due Diligence (2016)» and operationalizing of the UN Guiding Principles on Business and Human Rights. GIEK's Environmental and Human Rights Due Diligience Procedure is available here.
GIEK will evaluate the documentation provided by the client, as well as conduct its own assessment of potential risks and negative impacts related to the transaction in question. Our assessment of projects are based on applicable local law and regulations, and relevant international standards, the most important being the International Financial Corporation (IFC) Performance Standards and Core ILO Labour standards.
Clients should be aware of potential environmental, social and human rights risks within their own operations and within the projects there are involved in. It is expected that they have conducted their own due diligence to identify potential risks and impacts, and have documented how they intend to prevent, mitigate and remediate these.
For industrial, land-based projects and fixed offshore projects an Environmental and Social Impact Assessment (ESIA) and Action Plan (ESAP) are often required.
For maritime projects, ship yard evaluations are required for both construction and hull yards, and include assessments of labour, working conditions, and health and safety.