Sustainability is a strategic priority in any investment project. Helping to fight climate change and promote sustainable practices in key sectors such as farming, renewable energies or financial markets has become a need for institutions as well as for investors, consumers and the market in general.
Ensuring that the project in which the investment is to be made complies with certain standards related to Sustainability (Environmental in addition to promoting and respecting the Health and Safety of the Workers involved) is one of the keys to the success of the investment.
Our methodology is based on different criteria and standards published by the World Bank and World Bank entities such as the MIGA (Multilateral Investment Guarantee Agency) or the IFC (International Finance Corporation) which establish a series of widely accepted sustainability criteria.
What does the audit consist of?
The investment projects audit verifies compliance with the following aspects, depending on the type of project:
- Compliance with the applicable legal requirements related to Occupational Health and Safety and the Environment in the country where the investment is made.
- Performance Standard on Environmental and Social Sustainability.
- The World Bank Group Environmental, Health and Safety Guidelines.
Due Diligence is a type of special audit performed before taking the decision to invest. The result of the Due Diligence process based on compliance with legal requirements, Performance Standards or EHS Guidelines offers guidance to future investors on future feasibility in terms of sustainability, environmental risk and the image that is projected to potential clients and/or consumers.
Legal Requirements
Ensuring that the investment project complies with the legal requirements of the country where the project is executed is a guarantee for investors in the face of future unexpected events due to possible sanctions. In addition, it is a way to reduce the possibility of a “brand crisis” arising from incidents related to the environment and/or occupational health and safety.
MIGA
Performance Standards provide clients with guidance on how to identify risks and impacts, integrating this into the way of doing business in a sustainable manner, including participation by interested parties and client information obligations related to the project activities.
IFC
The World Bank EHS Guidelines are technical references with general and specific requirements, depending on the type of company. The IFC uses them as a technical information source in project evaluation activities, as described in the IFC Environmental and Social Review Procedures Manual. The Guidelines set out the parameters considered acceptable by the IFC in the projects it funds. It is considered that those levels are attainable in new facilities at a reasonable cost, taking into consideration the existing technology.
What is its contribution to the company?
- It increases the interest of potential investors in projects that are environmentally sustainable and take into account the health and safety of workers.
- It guarantees compliance with the EHS Guidelines in projects funded by the World Bank.
- It provides evidence of the project’s strengths and weaknesses beyond their immediate scope, including country and sector risks.
- It provides a report endorsed by an independent expert that not only reflects the state of compliance with the Guidelines, but also with the country’s basic health, safety and environmental legislation.
What does Full Audit contribute?
- Our own qualified, consolidated auditing team with extensive international experience.
- A network of expert partners in more than 30 countries.
- Experience in audits based on the criteria of different institutions.
- Rigour and integrity of the service.
- The capacity to understand different realities, contributing value during the entire auditing process.
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Full Audit services
Our Methodology
Preliminary phase
- Analysis of the audited organisation’s level of risk.
- Determination of the applicable EHS Guidelines and Performance Standards.
Audit
- Planning of the audit.
- Performing of the audit in the different sites.
Report
- Issuing of a report with
- Detected breaches of EHS Guidelines and Performance Standards.
- Detection of legal breaches.
End products
Auditor’s report
Containing Non-conformities detected with respect to the Guidelines and Performance Standards.
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