As a consultant currently contributing to the development of a wind farm project in Panama, and previously serving as an environmental specialist at the European Bank in London, I took the opportunity to attend a recent seminar on Wind Power Challenges and Solutions. The seminar was hosted by the Inter-American Development Bank (IDB) in Washington DC. The meeting provided valuable insights into lessons learned, and emerging environmental expectations of financiers of wind projects in emerging markets. (Shortlink: http://wp.me/p27qSt-Gu)
The scale of wind farm developments in emerging markets and associated risks often necessitate co-financing by bilateral or export credit agencies, development and multilateral financial institutions, and Equator Banks. The key environmental and social guidelines (and good practice notes) for wind projects these financial institutions - and their independent engineers - use to benchmark environmental and social risks, and define monitoring and mitigation requirements are listed in this blog entry.
As a GRI-G4 certified practitioner in sustainability reporting, I note an interesting trend. Reporting dates appear to show a forward shift (on average), although you might expect the opposite, as organisations get better at it. Why is this?
As a practitioner involved in bankable ESIAs, and supporting developers and financial advisors/institutions for projects ranging from wind farms to mining, I follow the developments around the IFC Performance Standards and the Equator Principles closely. This is why Olaf Weber’s publication “Equator Principles Reporting: Do Financial Institutions meet their Goals?” caught my eye. -- Link: http://wp.me/p27qSt-FG
Recently, I had a chance to join my colleague Petrus Gildenhuys as part of an AA1000 assurance assignment and visit Portugal. It was a beautiful drive to site: the undulating landscape was interrupted by idyllic villages, and we lost count of the number of storks we noticed along the way. The World Cup was dominating small talk, although it was starting to compete with news about the troubled Portuguese bank Banco Espirito Santo. http://wp.me/p27qSt-EQ
On July 23, 2014, Gold Reserve Inc. announced that the arbitral tribunal in the International Centre for Settlement of Investment Disputes (ICSID) case has declared the proceedings closed. Gold Reserve claims damages of approximately $2.1 billion, including interest.