PÖYRY POINT OF VIEW REPORT / 14 Jul 2017
Six challenges in upgrading Environmental and Social Impact Assessments to International Standards
To secure international finance for a power project, the Environmental and Social Impact Assessment (ESIA), prepared locally in the project’s host country, will more often than not need upgrading to comply with the requirements of the lenders (banks) financing the project.
Environmental and social impact assessment is a crucial prerequisite for power projects to acquire funding from international financial institutions. Apart from alleviating risks, ESIAs also adds value to the blueprint at the standpoint of investors, giving lenders a quantifiable and objective basis to facilitate funding approval.
This new Point of View from Pöyry examines the challenges of upgrading locally-prepared ESIAs to international standards and discusses the means of appropriately managing them to achieve financial close.
In this article, Mark Wilson, Pöyry’s Senior Environmental Consultant outlines six challenges that consultants face in upgrading ESIAs and shares his expertise on bridging the gaps among these common issues.