International Education Services Company, Cambodia
SLP Environmental was appointed by a Multi National Investment Fund, as part of the business transaction due diligence process, to perform environmental and social due diligence (ESDD) on a company which provides international standard educational services in Phnom Penh, Cambodia (the ‘Target’). The Target operates several large campuses in Phnom Penh with others under construction, and SLP audited operational facilities and those under construction. The Reference Framework (RF) for the assignment included:
- National regulatory requirements pertaining to Environmental and Social performance;
- IFC Performance Standards 1, 2, 3, 4 and 8;
- ILO Core Labour Standards;
- WBG Environmental, Health and Safety General Guidelines; and
- CDC Environmental and Social Checklist (June, 2015).
The primary objective of the Assignment was to identify gaps/ shortcomings in Target performance relative to the E&S performance benchmarks adopted for the study, and where such were identified, to prepare a clear and succinct Environmental and Social Action Plan (ESAP) with the aim of aligning the Targets E&S performance with the Reference Framework requirements and good international practice (GIIP).
As part of study scope, SLP conducted an ESMS audit at the Target’s headquarters, reviewed relevant environmental and social (E&S) documentation, interviewed direct and indirect workers and conducted ESDD audits at an operational facility and a large campus under construction.
A compliance review/ gap analysis was performed, and non compliances with RF requirements were assigned a risk ranking of Low, Medium or High. Findings with a risk ranking of Medium or High were taken forward for further consideration in the Environmental and Social Action Plan (ESAP) that was developed for the Project.
SLP specialises in performing ESDD on behalf of project Lenders, Investors and Sponsors and has completed over one hundred due diligence assignments across multiple business sectors and ASEAN jurisdictions.