Press Release: 1st October 2011
SLP were appointed as environmental specialists on behalf of a leading Global Asset Management company to provide peer review and advisory services with respect to a proposed investment in a large scale industrial plantation scheme in NE Cambodia. Our client was considering investing in the scheme and as part of their transaction due diligence process and corporate social responsibility commitments required an independent specialist to critically review the project developers Environmental & Social Impact Assessment (ESIA) report for completeness, quality and adherence to International Finance Corporation (IFC) guidelines and the Equator Principals.
SLP also provided a detailed checklist of the relevant environmental and social regulatory compliance requirements for large plantation schemes in Cambodia and assessed whether the project proponents environmental and social studies adequately addressed the relevant requirements under Cambodian law and international best practice.
SLP’s gap analyses found that the project developers ESIA failed to identify or address several of the most likely significant adverse impacts associated with large scale plantation schemes such as water security, pollution, biodiversity, soil erosion, human health and indigenous people’s rights. SLP determined that the proposed plantation scheme falls under Equator Principal Category A and as such recommended that further detailed studies are completed before an investment decision is made.
SLP’s staff include Chartered Environmentalists (CEnv), Chartered Scientists (CSci) and Members of the Chartered Institute of Water & Environmental Management (MCIWEM). SLP offer specialist environmental and social impact advisory services in Cambodia, Indonesia, Lao (Laos), Malaysia, Myanmar (Burma), Philippines, Singapore, Thailand and Vietnam.