We follow a simple philosophy in our business practices – “anything we produce should add value to the community we live in.” As a member of the global community, we follow international environmental best practices on every transaction that we underwrite. Our policies ensure that ourtransactions do not cause harm to people or the environment. We also screen and exclude any project using child labour, supporting money laundering or corrupt practices.
As a minimum requirement, ATIDI requires the financed undertakings benefiting from our insurance products to comply with E&S laws and regulations in the country of operations. This includes compliance with international treaties such as international labour standards, international conventions on human rights, and the environment.
ATIDI is actively working on optimizing Environment, Social & Governance (ESG) impacts to support African member countries more effectively. We also focus on our internal procedures and project portfolio while striving for gender parity at all institutions and environmentally sustainable business practices.
ATIDI’s ESG Policy includes procedures for carrying out the E&S due diligence of clients applying for our insurance. It infuses the IFC Performance Standards and other relevant DFIs standards. We have developed tools for screening and categorizing projects/undertakings as well as reporting and monitoring.
The process of ATIDI’s E&S Risk Management consists of the following steps:
1) Screening:
As a first step, ATIDI undertakes an initial desktop assessment that aims at determining the environmental, social, and governance relevance of the transactions. The following information is verified:
- Compliance with ATIDI’s eligibility requirements and exclusion list;
- Key ESG risks and opportunities; and
- IFC Performance Standards likely to be applicable to the transaction.
2) Classification:
All projects are classified according to the relevance of their potentially negative E&S impact. Depending on the E&S risk profile, the following categories will be applied:
- Category A (high E&S risk projects)
- Category B (medium E&S risk projects)
- Category C (low or no E&S risk projects)
3) Due Diligence:
Depending on the project/undertaking classification, ATIDI will undertake an E&S assessment based on its Environmental & Social Due Diligence (ESDD) decision tree. The E&S assessment is conducted by third party Independent Environmental and Social Consultants (IESC) hired by ATIDI or the clients. This should include a desktop review, a site visit to the project where relevant and an assessment of the stakeholder engagement process.
4) Decision, Monitoring and Reporting:
When ATIDI decides to approve a transaction, an agreement is to be formalised to meet applicable ESG requirements, including an Environment & Social Management Plan (ESMP), as relevant. The undertaking will review the progress made with regards to the implementation of the project ESMP on a regular basis throughout the guarantee period.
On occasions where it is deemed relevant, an ATIDI representative is expected to visit the site on an agreed timeline to monitor the implementation of the ESAP. The monitoring outcomes and any new identified E&S issues will be documented and the undertaking will work to ensure that corrective actions are implemented.
5) Policy:
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FAQs
The environmental component encompasses an organization’s impact on the planet in both positive and negative ways and the consequences for living beings.