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$80,000.00 (Project budget includes all project-funded activities)
Last Updated Date
May 17, 2024
Project Estimated Start Date
Jan 23, 2023
Project Estimated End Date
Jul 31, 2023
Project Description
IFC is partnering with Pan American Energy, S.L., Argentine Branch (“PAE”) to jointly explore decarbonization options of PAE’s business in Latin America, observing international best practice with regards to environmental, social, and governance (ESG) standards. This first engagement serves to assess the viability of different opportunities along the value chain and related business cases.
Development Results
During this pre-feasibility first phase, PAE and IFC seek to understand key issues along PAE’s value chain, including sourcing, as well as customer requirements. Throughout the assessment, IFC will also support PAE by sharing international ESG best practices, such that any project is designed, constructed, and operated in compliance with applicable E&S laws and IFC Performance Standards. If such a project proceeds to financial close, IFC will consider supporting PAE both through final feasibility studies and with financing for the project.
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
As part of its Due Diligence, and as mandated by IFC Sustainability
Policy, IFC team has screened this project to assess consistency with IFC's
Performance standards. Environmental and social risks will be further reviewed
throughout the life-cycle of the project.
IFC advice will be provided in a manner consistent with the principles
of the relevant Performance Standards. The IFC team will assist the client, as
final decision maker, in gaining a good understanding of IFC's Performance
Standards, and provide recommendations for appropriate mitigation measures
whenever warranted.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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