IFC Performance Standards

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Oil, Gas and Mining Lead ICSID Arbitration Case Load

The World Bank’s International Centre for Settlement of Investment Disputes (ICSID) recently published its case load statistics. The oil, gas and mining sector registered the highest case load (26%), including one to which Prizma contributed, followed by electric power and other energy (14%). The geographical distribution of all ICSID cases places South America on the top spot (26% of cases), followed closely by Eastern Europe and Central Asia (25%).    Shortlink: http://wp.me/p27qSt-K3

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Conducting Cyanide-Wildlife Causation Study for Gold Mine

The Kumtor Gold Company in the Kyrgyz Republic, a subsidiary of Centerra Gold, recently re-engaged Prizma to continue a Cyanide Wildlife Causation Study in order to satisfy the requirements of the Cyanide Code.  Shortlink: http://wp.me/p27qSt-JN

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EBRD to receive IAIA’s 2015 Corporate Initiative Award

The European Bank for Reconstruction and Development’s (EBRD) wins the IAIA 2015 Corporate Initiative Award for its work on the recently updated Environmental and Sustainability Policy which became effective in November 2014.  Congratulations to my former colleagues. - Shortlink: http://wp.me/p27qSt-JC Read More

Prizma Celebrates 10 Years in Business

Mehrdad Nazari webTen 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 consulting services to developers and investors in order to make their projects more bankable, credible and sustainable. During Prizma's 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 spans the world. We invite you to download our newsletter: Prizma_10 Years in Business.  http://wp.me/p27qSt-HQ

IFC Closes $300 MM Financing for Largest Wind Farm in Central America

IFC announced that it completed a $300 million financing package for the construction of Laudato Si wind park (formerly known as Phase II and Phase III of the Penonome wind power plant), the largest wind farm in Central America. Check out the awesome time-lapse clip showing transport of WTGs from China to Panama and erection at the site.  [Shortlink: http://wp.me/p27qSt-HE]
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MDBs adopting GRI Framework

Cover_GRI4As a former staff of the European Bank currently assisting the World Bank with a stakeholder panel review of its corporate responsibility review, I was impressed to see that many of the major multilateral development banks (MDBs) have adopted the sustainability reporting framework of the Global Reporting Initiative (GRI). The World Bank was one of the first organizations to adopt the latest – fourth generation – guidelines (GRI G4) already last year, and still remains the only one to do so amongst its peers.

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Wind Power Challenges and Solutions – Seminar hosted by IDB

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)

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E&S Guidelines for Wind Projects in Emerging Markets

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.

Shortlink: http://wp.me/p27qSt-GC

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Equator Principles (EPIII) Implementation Note

Complexity of Equator PrinciplesShortly after Mizuho Bank took over as the first Asian chair of the Equator Principles Association, the EP Association published the Equator Principles Implementation Note. It provides a valuable reference for Equator Banks and practitioners, such ESIA consultants, Independent Engineers, expert witnesses in international arbitration, and assurance providers. It also highlights the new complexities of the expanded - but qualified - scope of EPIII, and associated reporting requirements.

http://wp.me/p27qSt-FV

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Equator Banks get poor Marks on Transparency and Disclosure

Equator Principles Reporting Do Financial Institutions meet their GoalsAs 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

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