中英第三方市场国家基础设施合作项目：ESG+指引（英文版）.pdf

Guide to Environmental, Social and Governance (ESG) Evaluation and Assessment for Overseas Infrastructure Projects UK-China Third Country Infrastructure Cooperation Programme September 2020 China Infrastructure Programme background This was a three year programme between China and the UK which ended in October 2021. The programme brought together international and Chinese expertise to increase the sustainability, quality and commercial viability of Chinese-led, growth-enhancing infrastructure in Africa and Asia and increase access to private capital. A key aspect of this programme was joint UK-China working to promote the application of best practices to improve the quality of infrastructure delivery across the project lifecycle in developing countries. Through collaboration, the aim was to increase the participation of international private capital and create opportunities for UK, Chinese and international businesses. Geographic coverage The programme was funded by the British Embassy Beijing. the programme was targeted at ODA eligible countries (e.g. lesser developed markets). The geographic focus of the programme was in developing African and Asian countries. However, a number of recommendations, particularly in relation to the development, financing, and delivery of high quality infrastructure projects also apply to other markets The countries selected for analysis in this report have been selected to provide a mix of countries across these regions. Certain reports refer to experience from developed markets where there are relevant lessons for African and Asian countries. However, they do not cover the detailed procurement practices or issues faced by Chinese State Owned Enterprises (SOEs) in these markets. Infrastructure project lifecycle The programme supported changes across the project lifecycle as set out below. This is critical to increasing the sustainability, quality and commercial viability of projects. Purpose of the technical assistance reports The China Infrastructure Programme was designed to bring together International and Chinese expertise to increase the sustainability, quality, commercial viability and bankability of Chinese- led, growth-enhancing infrastructure in Africa and Asia. The programme has now closed. One closure activity was to make certain Technical Assistance Reports produced by the programme publicly available to Chinese and other organisations involved in overseas infrastructure development and financing. The Reports are hosted on CHINCA’s website. This introductory document provides brief descriptions of each report and maps them to stages of the project lifecycle. Intended audiences The primary audiences for the Reports are : a) Chinese SOEs engaged or interested in delivering infrastructure projects in Africa and Asia (and also with potential applicability to other markets); b) Chinese financial institutions and investors involved in financing and/or investing in Chinese infrastructure projects in overseas markets; and c) Policy-makers and regulators in China who are involved in activities relating to Chinese infrastructure projects in overseas markets. The Reports may also comprise useful reference documents for: a) International and British companies and financial institutions engaged or interested in international-China infrastructure cooperation in developing markets, particularly Africa and Asia; and b) The broader community of international infrastructure experts. Important Notice The Technical Assistance Reports as detailed within this introductory document were produced under the UK-China Infrastructure Programme and were created based on information available at the time of creation of these Reports. The reports remain under the ownership of UK Government which reserves the right to separately distribute copies of the report. You agree to use the contents of the Reports in a way that does not restrict or inhibit the use and enjoyment of this site by anyone else. The UK Government can change or remove content at any time without notice. You agree to release the UK Government from any claims or disputes that may come from using these Reports. The UK Government does not give any guarantees, conditions or warranties about the accuracy or completeness of any content used by these Reports. Views expressed do not necessarily reflect Foreign Commonwealth and Development Office s official policies You should get professional or specialist advice before doing anything on the basis of the Reports. The UK Government is not liable for any loss or damage that may come from using the Reports. This includes: any direct, indirect, or consequential losses; and any loss or damage caused by civil wrongs (‘tort’, including negligence), breach of contract or otherwise. This applies if the loss or damage was foreseeable, arose in the normal course of things or you advised us that it might happen. Guide to ESG for Infrastructure projects September 2020 0 Table of Contents UK-China Third Country Cooperation Programme 4 1 Synopsis 5 1.1 ESG Standards 7 1.2 ESG Best practice . 8 1.3 International Private Capital and ESG 9 1.4 Ongoing initiatives and tools 9 2 Legal and Institutional Frameworks . 12 2.1 The Equator Principles (EPs) IV (2020) . 12 2.2 The IFC Performance Standards on Environmental and Social Sustainability (2012) 16 2.3 The World Bank Group Environmental, Health and Safety (EHS) Guidelines 19 2.4 BRI Green Investment Principles (2019) 23 2.5 Overview of local EIA Framework 25 2.6 Comparison of Host Country and EP/IFC Requirements 31 3 Overview of Environmental and Social Management Systems (ESMS) . 34 4 Best Practice Approach by Project Stage 41 4.1 Planning – Project Concept . 43 4.2 Construction – Asset Development 53 4.3 Commissioning and Operation . 53 4.4 Project Closure 54 5 Physical Climate Risks . 56 5.1 Importance of Physical Climate Risk assessments 56 5.2 Screening for Physical Climate Risk and Adaptation Impact 58 5.3 Appraisal of Physical Climate Risk and Adaptation 59 5.4 Monitoring and Reporting of Adaptation Impact . 62 6 ESG and Private Project Financing . 64 6.1 Environmental, Social and Governance (ESG) impact on Financial Performance . 64 6.2 Additional Project Financier Standards for ESG 64 6.3 ESG Benchmarking 67 Guide to ESG for Infrastructure projects September 2020 1 Abbreviations In this Guide, the following abbreviations shall have the following meanings unless otherwise stated Abbreviation Meaning AI Appointed Individuals AfDB African Development Bank ADB Asian Development Bank AIIB Asian Infrastructure Investment Bank ALARP As Low As Reasonably Practicable APU Auxiliary Power Units ASEAN Association of South East Asian Nations BAT Best Available Technology BEIs Biological Exposure Indices BRI Belt and Road Initiative BOD Biochemical Oxygen Demand CDP Community Development Plan CFC Chlorofluorocarbons CIA Cumulative Impact Assessment COA EIA Approval Conditions DG Dynamic Growth DOE Department of Environment DOSH Department of Occupational Safety and Health E & S Environmental and Social EU European Union EAR Environmental Audit Report EB Existing Built-Up Area EBRD European Bank for Reconstruction and Development EHS Environmental, Health and Safety EIA Environmental Impact Assessment EIATRC EIA Technical Review Committee EMF Electromagnetic Field EMP Environmental Management Plan EMR Environmental Monitoring Report ( EP Equator Principle EPAP Equator Principles Action Plan EPD Environment Protection Department EPFI Equator Principles Financial Institutions EQA Environmental Quality Act ESG Environmental, Social and Governance ESI Environmental Scoping Information ESIA Environmental and Social Impact Assessment ESMP Environmental and Social Management Plan ESMS Environmental and Social Management System ESPO European Sea Ports Organisation EU Europe Union EXCO Executive Council FPIC Free Prior and Informed Consent FS Feasibility Study FSB Financial Stability Board GA Government Agency Guide to ESG for Infrastructure projects September 2020 2 GAC Granular Activated Carbon GCA Global Commission on Adaptation GHG Greenhouse Gas GIIP Good International Industry Practice GWP Global warming potential H&S Health & Safety HAZMAT Hazardous Materials HAZID Hazard Identification HAZOP Hazard and Operability HQ Headquarter HVAC Heating, Ventilation and Air Conditioning IC Inclusive Communities ICC International Code Council ICNIRP International Commission on Non-Ionising Radiation Protection IEE Initial Environmental Examination IESC Independent Environmental and Social Consultant IFC International Finance Corporation ILO International Labour Organisation IMO International Maritime Organisation IPP Indigenous People Plan IPSA Initial Poverty and Social Assessment and Analysis ISO International Standards Organisation KPI Key Performance Indicator L&FS Life and Fire Safety LA Local Authority LTO Landing and Take-off MSW Municipal Solid Waste ND New Development NGO Non-Governmental Organisations NIOHS National Institute for Occupational Health and Safety NPBD National Policy on Biological Diversity NPCC National Policy on Climate Change NPDC National Development Planning Committee NPE National Policy on Environment NPP National Physical Plan NORM Naturally Occurring Radioactive Material NR New Road NREB Natural Resources and Environment Board NTS Non-Technical Summary ODS Ozone Depleting Substances OECD Organisation for Economic Co-operation and Development OSM Operational Safety Management P2M2 Pollution, Prevention and Mitigation Measures PCBs Polychlorinated Biphenyls PDCA Plan-Do-Check-Act PELs Permissible Exposure Limits PIDG Private Infrastructure Development Group PM Particulate Matter POPs Persistent Organic Pollutants PPE Personal Protective Equipment Guide to ESG for Infrastructure projects September 2020 3 PRC People’s Republic of China PRI Principles for Responsible Investment PS Performance Standards QRAs Quantitative Risk Assessments RAC Report Adequacy RDA Regional Development Authorities ROW Rights-of-Way RT Railway & Transit Train SR Spatial Sustainability Resilience SDG Sustainable Development Goal SEA Strategic Environmental Assessment SEP Stakeholder Engagement Plan SEPA State Environmental Protection Administration SMS Safety Management System SOP Standards Operating Procedure SSA Site Suitability Assessment STD Sexually Transmitted Diseases SZIRA Siting and Zoning of Industry and Residential Areas TCFD Task Force on Climate-Related Financial Disclosures TENORM Technologically Enhanced Naturally Occurring Radioactive Material THC Total Hydrocarbons TLV Threshold Limit Value TOR Terms of Reference TORAC Terms of Reference Adequacy Check TRC Technical Review Committee TSS Total Suspended Solids UK United Kingdom UKEF United Kingdom Export Finance UN United Nations UNCLOS United Nations Convention on the Law of the Sea UNDP United Nations Development Programme UNFCCC United Nations Framework Convention on Climate Change UNGP United Nations Guiding Principles UNPRI United Nations-supported Principles for Responsible Investment USEPA United States Environmental Protection Agency VOC Volatile Organic Compound WAC Waste Acceptance Criteria WBG World Bank Group WEF World Economic Forum WHO World Health Organisation Guide to ESG for Infrastructure projects September 2020 4 UK-China Third Country Cooperation Programme The UK-China Third Country National Infrastructure Cooperation Programme is designed to explore and enhance the cooperation between UK companies and Chinese companies carrying out infrastructure projects in Africa and Asia. This Guide has been prepared as part of that programme. The programme lasts for three years, and it brings together International and Chinese expertise to increase the sustainability, quality and commercial viability of Chinese led, growth enhancing infrastructure in Africa and Asia that increases access to private capital. Infrastructure development is key to prosperity and security, especially in developing economies. A key aspect of the programme is joint China-UK working to promote the application of best practices to improve the quality of infrastructure delivery across the project lifecycle in developing countries. Through collaboration, we aim to increase the participation of international private capital and create opportunities for UK, Chinese and international businesses. This report covers international best practice relating to Environmental, Social and Governance (ESG) aspects of infrastructure project delivery in developing markets. This is a key part of the assessment carried out by international private capital when deciding whether to finance a project. High quality ESG performance is critical to obtaining private capital. It is also critical to ensuring high quality projects that generate benefits and minimise impacts on communities. Guide to ESG for Infrastructure projects September 2020 5 1 Synopsis Environmental, Social and Governance (ESG) assessments are a critical part of infrastructure project delivery. International private capital will not invest in projects that do not meet high standards for ESG, due to both risk and reputational issues. Meeting these standards also ensures projects deliver the expected benefits to communities, engaging them throughout the project preparation and delivery phases of the infrastructure lifecycle. At the same time, the world faces an unprecedented climate emergency and there is an urgent need to accelerate the transition towards a more sustainable global economy. Considering this, many investors are focused on the long term impacts in addition to risk and return on their investments, and to ensure that their investments support global (and national) climate, environmental and social sustainability goals as shown in Figure 1.1. Figure 1.1: Financing Sustainable Growth 1 Investment in projects which are aligned with the transition to a low-carbon, climate resilient and resource-efficient economy are key to realising these ambitions. This also includes ensuring projects deliver the social benefits expected to communities. The ability of a project to demonstrate these key sustainability benefits can unlock access to private capital, including green and / or sustainable financing streams. Investors’ focus on ESG considerations is growing and changing and many organisations are developing metrics and processes to evaluate the impact of projects on communities and the planet. Therefore, a key area for financiers is the application of a high quality ESG process. This includes both the evaluation of ESG risks as well as effective monitoring and reporting processes. The approach to ESG is a key consideration for international private capital (e.g. project finance banks), who will not lend to projects that do not transparently meet their required ESG standards. The focus on ESG from international private capital includes both management of re