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Screening categories and rationale for classification
A large scale property development such as this project has specific
environmental impacts which, however, can be readily identified and prevented
through adequate measures and application of good international practice. For
the above reasons, the EBRD has classified the project B/1, requiring an
Environmental Analysis and Audit of the proposed site and associated
facilities.
Information reviewed during the environmental appraisal
The independent audit report as well as completed Environmental Questionnaire
have been reviewed by the Bank.
Environmental Impacts and mitigation measures
Environmental due diligence confirms that the Sponsor has already conducted
initial environmental work and obtained the project-stage environmental
approval. There are no critical environmental liability issues to prevent
further implementation of the Project and the project work has been conducted
in accordance with good international practice. Russian regulatory review
recommended several corrective measures which need to be incorporated into the
Project in a form of an Environmental Action Plan (EAP). The Sponsor will be
required to ensure that the project complies with national regulations and
relevant EU environmental, health and safety standards and to submit an annual
environmental report on environment, health and safety and worker protection
issues to the Bank.
Environmental opportunities
The project will incorporate consideration for conserving trees wherever
possible.
Monitoring
The Bank will evaluate the project’s compliance with the applicable
environmental and social requirements during the lifetime of the project by
reviewing annual environmental reports (AER) prepared for the project
covering: (1) on-going performance of project-specific environmental, health
and safety programmes if applicable, and (2) the status of implementation of
environmental mitigation measures.
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