Take account of the environmental impact of their operations (through a formal "environmental assessment" in cases involving loss of biodiversity or habitat, climate change, water or air quality, substantial solid waste and other issues where the negative impact could be significant) and take steps to mitigate any risks;
Be designed and operated in compliance with local law;
Be designed and operated according to relevant World Bank standards for the activity concerned if these are more stringent than local legislation, unless there is a clear reason for accepting a different standard in which case this will be formally recorded; or
Take account of relevant international environmental agreements.
Ensure that for each investment the impact on climate change is taken into consideration by the Investment Committee pre-investment.
Health & Safety
In our investment decision we take into account whether businesses :
Comply with local health and safety law as a minimum;
In the absence of a local health and safety legal framework, act in accordance with the recommendations of the relevant World Bank Standards; and
Assess the specific risks arising from work activities and introduce measures to eliminate or reduce those risks
We seek to invest in businesses which uphold high standards of business integrity and honesty and operate in accordance with local and international laws and good practice, including those intended to prevent extortion, bribery and financial crime.
We seek to invest in businesses which:
Comply with local law (as a minimum);
Take account of their impact on employees, contractors, the local community and all others affected by their operations through appropriate consultation, and to take steps to mitigate any risks;
Do not employ forced labour of any kind;
Do not allow children to form part of their workforce;
Pay wages which meet or exceed industry or national minima and are sufficient to meet basic needs;
Treat their employees fairly in terms of recruitment, progression, terms and conditions of work and representation, without prejudice to and irrespective of gender, race, colour, disability, political opinion, and sexual orientation; and
Allow consultative work-place structures and associations which provide employees with an opportunity to present their views to management.