Ten years ago, Mehrdad Nazari, a former environmental and sustainability specialist at the European Bank, set up Prizma as a boutique ESIA and sustainability advisory practice. We provide environmental and social advisory services to developers and investors in order to make their projects more bankable, credible and sustainable. During the first decade, our journey has taken us from gold mining in Central Asia to wind farming in Central America. Our engagements have benefited junior mining companies to multilateral financial institutions. And our network now spans the world. We invite you to download our newsletter: Prizma_10 Years in Business and browse Prizma's blog to learn more about our activities. Let's explore how we can support your projects. http://wp.me/p27qSt-HQ
IFC announced that it completed a $300 million financing package for the construction of Phase II and Phase III of the Penonome wind power plant, the largest wind farm in Central America. Prizma's involvement in the Penonome project was previously posted here. Shortlink: http://wp.me/p27qSt-HE Read the rest of this entry »
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?