Logistics and Supply Chain Company, Thailand
SLP Environmental Co., Ltd was appointed by an International Financial Institution (IFI) to perform environmental and social due diligence (ESDD) on a fully integrated logistics and supply chain solutions service provider (the Company) operating in ASEAN and headquartered in Thailand. The Company plans a corporate bond issuance which will be guaranteed by the IFI, and hence is required to comply with the Facility’s Environmental and Social Safeguards (ESS). SLP was appointed as an independent consultant to assess the Company’s performance with respect to the Safeguards Requirements (SR) adopted for the Assignment which included:
- Client’s Prohibited Investment Activities List (PIAL);
- Client’s Environmental and Social Safeguards (ESS) Policy;
- Applicable requirements of ADB Safeguard Requirements 1 – 3;
- Applicable national requirements pertaining to E&S performance; and
- Relevant ILO Core Labour Standards.
The primary objectives of the Environmental and Social Due Diligence / ESMS were to:
- Assess the Projects conformance status with respect to safeguards requirements;
- Clearly identify any gaps and prioritise them in terms of significance;
- Recommend appropriate corrective actions (CA’s) to close gaps and align Project E&S performance with safeguards requirements;
- Set timelines for implementation of CA’s based on assigned priority and specify appropriate Completion Indicator to verify gap closure;
- Prepare a bespoke Environmental and Social Action Plan (ESAP) for the Project for inclusion in the ESDD report,
- Assess the capacity and resources of the Company to implement the ESAP requirements, and
- Prepare the Target Company’s Environmental and Social Management System (ESMS) Manual and provide training in its implementation and ongoing monitoring and evaluation.
Upon completion of the ESDD, SLP was appointed by the IFI to prepare an Environmental and Social Management System (ESMS) on behalf of the Company and provide high level training to the team charged with its ongoing development, implementation and monitoring.
SLP Environmental specialises in performing ESDD / ESMS on behalf of project lenders / investors and project developers and has an extensive proven track record in performing environmental and social due diligence (ESDD) and ESMS assignments for a variety of business and industry sectors across the ASEAN region (Cambodia, Laos, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam) and professional references can be provided on request.
A client press release can be found here.