Environics conducted an Environmental and Social Due Diligence (ESDD) for two companies; manufacture various types of smart and payment cards, AND offers payment processing services such as transaction processing, card hosting, and white-labeled digital products.
The aim of the ESDD is to evaluate the environmental and social compliance of both businesses in accordance with Egyptian national regulations and relevant international standards. The assessment focuses on the Egyptian operations of the companies.
The E&S due diligence was conducted to evaluate compliance with reference framework including: − Applicable national environmental and social (including occupational health and safety) legislation (e.g. Environmental Law 4/1994 amended by Law 9/2009 and Law 105/2015, Labor Law 12/2003, Waste Law 202/2020 and Law 148/2019 amended by Law 25/2020 regarding social insurance); − IFC E&S Performance Standards (PSs 1, 2 & 3); − EBRD Environmental and Social Policy Guidelines and Performance Requirements (PRs 1, 2 & 3)
Environmental and Social Due Diligence Report including a description of the activities performed, areas of potential concern, and an evaluation of the environmental and social performance of the company and its compliance with the reference framework. In addition, the report includes an environmental and social action plan (ESAP) that presents the recommended actions to overcome the identified gaps. The draft Environmental and Social Due Diligence Report including the ESAP, was submitted after finalizing the site visits. The final report incorporates feedback provided by The Client. The report was submitted after receipt of feedback.