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Screening category and justification
Screened B/1. The Project involves the construction of a new float glass plant
in Ryazan, located roughly 200km south east of Moscow. An Environmental Audit
of the proposed site was required due to the proximity to an existing refinery
and an Environmental Analysis of the proposed plant was undertaken to
ascertain future compliance with Russian and EU environmental standards.
Due diligence undertaken and outcomes
An environmental due diligence was undertaken of the Project by the Bank,
inclusive of site visit to the site and meetings with the Sponsor’s corporate
environmental and technical team to discuss the planned Project and planned
technology to be employed. The due diligence included a review of the existing
OVOS and technical documentation and benchmarking in terms of EU IPPC
requirements (notably the IPPC BREF Note for the Glass Sector) and the draft
IFC EHS Guidelines for the Glass Sector.
The due diligence concluded that the plant is not located in a sensitive
location and environmental and social impacts are not significant.
Nevertheless, the environmental due diligence has identified a number of
environmental issues that required the development of an Environmental Action
Plan (EAP). The EAP requires the Sponsor to structure the design, construction
and operation of the plant in line with EU environmental standards and
includes among others, a commitment to install continuous monitoring, dust and
NOx abatement as well as the implementation of an Environmental Management
System (EMS).
Implementation requirements
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The Company will be required to provide the Bank with an annual environmental
report, including updates on the EAP, and notification on any material
accidents or incidents.
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The Company will implement the EAP and an EMS inclusive of continuous
monitoring systems.
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The Company will conduct its business with due regard to National and EU
environmental regulations and standards.
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The Company will arrange for periodic environmental audits and monitoring
visits by Bank staff or appointed representatives, if and when deemed
necessary.
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