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Estimated Total Budget Pending (Project budget includes all project-funded activities)
Last Updated Date
Nov 4, 2023
Project Estimated Start Date
Jan 1, 2022
Project Estimated End Date
Jun 30, 2023
Project Description
This advisory engagement will support Haier Leasing to establish a comprehensive sustainable finance system for social bond portfolio including ESG risk management and project impact management, develop the social bond framework in line with international best practice.
Development Results
This advisory engagement will strengthen the capacity of Haier Leasing to implement the framework and play a role in aligning financial flows to resolve social issues.
Development Results Pending
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
The project aims to increase the share of social projects without causing major harm to the environment and communities. If the project does not adequately address the issue of client capacity and capabilities to manage the above risks, it could have negative impact on specific sectors of leasing activities, as well as negatively affect the development effectiveness of the project.
The project will develop and implement its Environmental and Social Management System (E&S Risk Management Component), to be implemented by the ESG Advisory team. This component will review Haier's current approaches towards ESRM, benchmarked against the IFC Performance Standards and China Banking and Insurance Regulatory Commission (CBIRC) Green Credit Key Performance Indicators, develop environmental and social risk management tools for the Haier's core business.
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