- Environics was commissioned to establish an environmental and social management system (ESMS) for Lorax company, a framework that integrated environmental and social risk management into Lorax’s business processes so as to avoid or mitigate any adverse impacts on the environment and surrounding communities. It also involved a proactive identification, assessment and management of E&S risks during the entire client relationship and project life cycle.
- The system has been designed to ensure that all projects are reviewed and evaluated against applicable national laws on environment, health, safety and social issues as well as the Equator principles.
- Environics has developed different components of the ESMS with related procedures, responsibilities and forms. The components involved processes to: screen projects, assign environmental risk category, and conduct due-diligence to evaluate environmental and social risks as well as integrate E&S covenants in Investment Agreements.
- The system also provided the process for periodic monitoring and record keeping. A mechanism for system review and continuous improvement has been designed. The system was documented in an ESMS manual to include all procedures and forms.
- Moreover, Environics provided an orientation of the system to Lorax E&S officers with an introduction to HSES legal requirements and IFC performance standards.
