Sustainability Report 2013

Contents

Project monitoring

We monitor the environmental and social performance of all of our projects throughout the life of our investment. This monitoring normally involves a combination of client reporting, regular site visits by our staff and independent audits.

As part of our monitoring, we require each of our clients to provide us with a report, at least annually, on their environmental and social performance and the implementation of applicable Environmental and Social Action Plans (ESAPs). Across the portfolio, 96 per cent of projects have fulfilled this environmental and social reporting requirement over the last two years.

A lack of environmental and social reporting by a client is one of the factors that can trigger enhanced monitoring by our Environmental and Sustainability Department, leading to more frequent site visits or assistance with capacity-building initiatives.

We conducted environmental and social monitoring visits to 60 projects in 2013.

At the start of 2013 our project portfolio included 60 active Category A projects. Based on monitoring and supervision during the year, we considered that 51 (85 per cent) of these projects are meeting or exceeding our Environmental and Social Policy and Performance requirements. Eight projects have issues that need to be addressed and their overall compliance with the performance requirements is rated as “marginal”. One project is considered to have a “poor” overall compliance rating. Where projects are found to be falling below the environmental and social standards that we agree with clients, we provide enhanced supervision and assistance to help improve the performance of such projects.