Incorporating Climate Change Considerations in Social Due Diligence: Lessons Learnt from the European Investment Bank

Transcription

1 Incorporating Climate Change Considerations in Social Due Diligence: Lessons Learnt from the European Investment Bank Mariana RUIZ ALVARADO Social Development Specialist European Investment Bank Group 1

2 Index Who is the EIB? EIB participation in Mega-projects The 2015 EIB Climate Strategy The new EIA Directive 2014/52/EU Climate Change and Social Due Diligence Resettlement Working Camps and Influx Human Resource Policies and Safety Health Vulnerable Groups Actions by the EIB European Investment Bank Group 2

3 EIB Total lending and staffing 2013/2014 Peer group of MDBs European Investment Bank Group 3

4 A few examples: EIB participation in Mega-Projects London Crossrail & Gateway Port Grand Paris Express S7 Expressway (Gdansk-Warsaw -Krakow) Panama Canal Expansion Metro Quito Metro Lima (under appraisal) Metro Cairo Beijing Airport Expansion Olkaria I & IV Geothermal Extension European Investment Bank Group 4

5 EIB Climate Strategy Reinforce the impact of climate financing Define high impact and increase pipeline of high impact eligible projects climate action indicator Financial innovation Supporting green bond market Build resilience to climate change Increasing the portfolio of adaptation projects Developing the use of climate risks and vulnerability Making operations more resilient to climate change Further integrating climate change considerations across EIB standards, methods and processes Improving mainstreaming tools Extending coverage of sector policies Managing portfolio climate risks

6 The new EIA Directive 2014/52/EU Reference to importance to assess the impact of projects on climate (for example greenhouse gas emissions) and their vulnerability to climate change Screening procedures must consider the risks of major accidents and/or disasters [ ], including those caused by climate change EIA report shall include: Baseline for climate (e.g. GHG, impacts relevant to adaptation); Significant effects of the project on climate (e.g. the nature and magnitude of GHG) and the vulnerability of the project to climate change. Applicable from 16 th May European Investment Bank Group 6

7 Climate Change and Resettlement Assessment of the host community in terms of Safety against extreme weather events Access to water, food and ecosystem services Access to services (school, markets, hospitals ) Access to alternative livelihoods European Investment Bank Group 7

8 Climate Change, Working Camps and Influx Working Camps: climate change resilient Influx of workers: shortages of water, food and ecosystem services (cumulative impacts) European Investment Bank Group 8

9 Climate Change, HR Policies and Safety Access to workplace: Incidence of extreme weather events (commuting and workplace to remain open) Workers productivity: reduction due to heat stress; Emigration due to CC: aggravate worker turnover and availability of qualified workers Hazardous waste: management, disposal and storage may be hindered by floods, fires or hurricanes European Investment Bank Group 9

10 Climate Change and Health CLIMATE CHANGE Source: WHO and IPCC Human Exposures Regional weather changes Heatwaves Extreme weather Temperature Precipitation Modulating influences Contamination Pathways Transmission Dynamics Changes in agroecosystems, hydrology Socioeconomic and demographic disruption Health Effects Temperaturerelated Air pollutionrelated Water and food-borne diseases Effects of food and water shortages Mental, nutritional, infectious and other European Investment Bank Group 10

11 Climate Change and Vulnerable Groups Less resilient to CC and their conditions can be aggravated by CC. Reduced stakeholder engagement and participation in decision making by these groups Specific cases: Gender Indigenous peoples and forest people European Investment Bank Group 11

12 Actions by the EIB The Environment, Climate and Social Office at the EIB is launching a study for the integration of CC considerations in E&S due diligence This will result in a revision of Standard 4 on Climate Change from the EIB Environmental and Social Handbook. Training-day for E&S assessment consultants in European Investment Bank Group 12

13 Thank you! Mariana RUIZ ALVARADO European Investment Bank Group 13