The Company plans to attract financing from International Finance Institutions (IFIs) for the Project. As such the Company is conducting an Environmental and Social Impact Assessment (ESIA) in compliance with IFI requirements, particularly, the Equator Principles and the requirements of the International Finance Corporation (IFС).
An ESIA Scoping study is the first stage of the ESIA process; its purpose is to scope the assessment needed for the environmental and social impacts of the Project. The significant impacts and risks identified during the ESIA Scoping are then assessed in detail during the full-fledge ESIA with the assessment findings presented in the ESIA Report.
Measures to prevent, mitigate or offset expected negative impacts are presented in an Environmental and Social Management Programme (ESMP) developed during the full-fledge ESIA. In the non-technical summary of the ESIA report the project and ESIA findings is described in a manner easily understood by the general public.
At all stages of the ESIA process and then during Project implementation the Company will engage with Project stakeholders. During the ESIA Scoping an initial version of a Stakeholder Engagement Plan (SEP) was developed. The SEP identifies key groups of Project stakeholders, proposes a general approach to stakeholder engagement and consultation with stakeholders on environmental and social aspects of the Project. The SEP also describes a proposed external grievance mechanism. The SEP will be revisited and updated during further stages of the Project development and implementation.
At present, the following ESIA documentation is prepared and made available for review and comments by the interested parties: