Environmental and Social Management Systems (ESMSs) can be valuable tools for organizations to incorporate Environmental and Social (E&S) objectives into their initiatives. However, the implementation of such a tool is not sufficient to ensure that E&S objectives are being met.
For that reason, this Development Bank engaged Momentus (formerly IFCL) to develop a sustainability policy framework and an Impact Assessment Monitoring System that incorporated the provisions of their ESMS and Corporate Social Responsibility (CSR) policy.
We created, then applied, the new framework and prepared the Bank’s first sustainability report. The sustainability policy we developed included economic, environmental, social impact, and Corporate Social Responsibility (CSR) integrating value creation and best practices. It also provided tools for efficient tracking of development impact over the project life cycle.
We also developed a project monitoring mechanism and a projects-compliance tracking system. This monitored the conformity of transactions with local Environmental, Social, and Governance (ESG) requirements, and with the overall provisions of their ESMS.