IL&FS recognizes the need to clearly demonstrate its commitment to environmental and social issues in each of its projects. The IL&FS Environmental and Social Policy and Framework (ESPF) is founded on the concept of Sustainable Development and thereby recognizes Environmental and Social (E&S) considerations in its business operations to add value, minimize impacts and risks to increase effectiveness of infrastructure projects. This document presents IL&FS’s Environmental and Social Policy, the Operational and Guiding Principles
The ESPF is guided by the Policy Statement as below
|The Environmental and Social Policy of IL&FS |
Infrastructure Leasing & Financial Services (IL&FS) Limited is driven by its mission to develop, implement, operate, finance and participate in infrastructure projects through Public Private Partnerships, as well as to provide value-added financial services
The IL&FS Environmental and Social Policy and Framework (ESPF) is founded on the concept of Sustainable Development and thereby recognizes Environmental and Social (E&S) considerations in its business operations to add value, minimize impacts and risks to increase effectiveness of infrastructure projects. IL&FS strives to conserve natural resources, protect the environment and restore standards of living for those affected by its operations
The ESPF applies to the business canvas of IL&FS including its subsidiaries and associate companies
IL&FS is committed to comply with its E&S policy, applicable laws of the land and be responsive to existing and emerging global E&S concerns on a proactive basis
This Policy Statement is implemented through the Guiding, Operational and Engagement Principles:
- Through its Guiding Principles (GP), IL&FS commits to
- adding value to all projects and transactions it undertakes,
- integrating E&S concerns into the decision-making process, and
- minimizing exposure to E&S and financial impacts and risks.
- The Operational Principles (OP) provide procedural guidance to IL&FS, its subsidiaries and associate companies as well as third parties involved in execution of Projects/Transactions/Advisory Mandates
- the OPs of the ESPF are equivalent to the environmental and social frameworks of Multilateral Development Banks such as the World Bank and Asian Development Bank as well as compatible with Equator Principles (EP),
- the OPs are adaptable so as to be commensurate with the nature of the business activities of the relevant company, its products and services, and the locations and conditions in and under which it operates
- The Engagement Principles (EPs) apply to Projects/Transactions/Advisory Mandates where IL&FS does not / cannot exercise complete control over the organization or business activity. These principles emphasize on communication of good environmental and social management practices to the clients and partners.