Sustainability Report 2013

Contents

Derogations

Some projects in which we invested are unable to comply fully with all of the requirements of the Environmental and Social Policy. The EBRD Board approved derogations from the Policy for five projects signed in 2013. The specific derogations for these projects were agreed where affordability or operational constraints made full compliance unachievable but the overall environmental, social and economic benefits of the projects were sufficient to justify our investment. With the exception of the agreed derogations, these projects will meet our Policy and Performance Requirements.

Board-approved derogations for new projects in 2013

Project Derogation Country Sector
CAEPCO Rehabilitation Project Some of the existing assets of the company are not covered by this investment plan and will not fully meet EU emission standards for atmospheric pollutants (SOx and NOx). Kazakhstan Power and energy
Water and Wastewater Framework – Kant Water sub-project Project will not comply with EU standards for wastewater discharge due to affordability constraints. Kyrgyz Republic Municipal and environmental infrastructure
Water and Wastewater Framework – Talas Water Project will not comply with EU standards for wastewater discharge due to affordability constraints. Kyrgyz Republic Municipal and environmental infrastructure
Kurgan-Tyube Waste Collection in the Kyrgyz Republic Project will not comply with EU standards for waste recovery and recycling due to affordability constraints. Tajikistan Municipal and environmental infrastructure
Yakutsk Water Modernisation Project Project will not comply with EU standards for wastewater discharge due to affordability constraints. Russia Municipal and environmental infrastructure
Chisinau Water Services Rehabilitation Project Project will not comply with EU standards for drinking water standards and wastewater discharge due to affordability constraints. Moldova Municipal and environmental infrastructure
Tursun-Zade Waste Collection in the Kyrgyz Republic Project will not comply with EU standards for full compliance with the EU requirements for waste recovery and recycling due to affordability constraints. Tajikistan Municipal and environmental infrastructure