Environmental and Social Policy

All projects financed within GAF PMU programs should be structured to meet the requirements of Environmental and Social (E&S) Policy. GAF PMU is committed to complying with national, international and applicable IFIs (KfW, WBG, standards/requirements/policies) environmental and social regulations to its operations and business services to protect the environment and the climate and support social development.

1. endeavors to minimize the adverse impacts of its own operations and of PFIs lending activities on human health and safety, the environment and the affected communities.

2. establishes an Environmental & Social Management system to define a common binding framework to incorporate environmental, social and climate standards into the planning, appraisal, implementation, and monitoring of Environmental and Social risks.

3. incorporates E&S Risk considerations in its business operations and follows international best practice in developing a framework to effectively manage these risks.

4. seeks to ensure and assess that its PFIs are operating under the local applicable regulations and international standards for protecting the environment and people, as well as in compliance with GAF E&S internal guidelines and developed procedures (thus in compliance with its own ESMS).

5. excludes refinancing of loans to those whose business activities do not meet the GAF’s E&S requirements.

6. raises staff awareness on environmental and social best practices and maintains the necessary internal capacity and structure to implement the ESMS (by delivering appropriate training opportunities).

7. GAF is committed to the principles of transparency, accountability and stakeholder engagement. It will publish an annual sustainability report that provides information on the environmental and social aspects of its investment activities and its own operations, and on the implementation of this Policy.

Environmental and Social Policy will be fully adopted and integrated into all ongoing lending and investment operations of GAF PMU and in all manners available to ensure a strong culture of sustainability within GAF PMU and amongst its stakeholders. Policy performance will be provided by internal instruction on ESMS.

DECISION No. 6
of the GAF PMU Supervisory Council
at 01/11/2023