International Educational Facilities, Myanmar
SLP Environmental Co., Ltd was appointed by a private equity firm to perform environmental and social due diligence (ESDD) on a company operating two international educational facilities in Yangon, Myanmar. The Compliance Framework for the assignment included National Environmental and Social (E&S) requirements and International Financial Institution standards and guidelines including:
- The Equator Principles (III);
- International Finance Corporation Performance Standards;
- World Bank Group Environmental, Health, and Safety General Guidelines; and
- Keeping Children Safe, Child Safeguarding Standards (2001).
The primary objectives of the Environmental and Social Due Diligence were to:
- Assess the Projects conformance status with respect to applicable requirements as specified in the Compliance Framework;
- Clearly identify any gaps (Gap Analysis) and prioritise them in terms of significance;
- Recommend appropriate corrective actions (CA’s) to close gaps and align Project E&S performance with Compliance Framework requirements;
- Set timelines for implementation of CA’s based on assigned priority (e.g. pre or post Financial Close);
- Specify appropriate Completion Indicator to verify gap closure;
- Prepare a bespoke Environmental and Social Action Plan (ESAP) for the Project;
- Based on study findings determine likely categorisation of the Project under the Equator Principles; and
- Assess the capacity and resources of the due diligence Target to implement the Environmental and Social Action Plan requirements.
SLP specialises in performing Environmental and Social Due Diligence (ESDD) on behalf of project lenders and project developers and has completed extensive due diligence assignments across multiple business sectors and ASEAN jurisdictions.