Development and Implementation of an Environmental and Social Management Framework for an affordable housing fund
The Fund focussing on affordable housing was set up with investments from various Development Finance Institutions such as DEG, CDC etc. Environmental Management Centre LLP was appointed for development of an Environmental and Social Management Framework (ESMF) commensurate with the level of environmental and social (E&S) risk that may exist within the fund and conforming to investor safeguards. In addition to the ESMF, a Manual for Environmental, Health & Safety Management during construction was prepared to aid in maintaining a baseline system on environment, health, and safety at project sites. Post approval of the ESMF by the investors and the Fund’s Board, EMC was appointed as the E&S Consultant for supporting the Fund in implementation of the ESMF. In this capacity, EMC applied the E&S risk assessment and management framework to every transaction that is evaluated by the Fund, carried out the visits at the project site during construction stage for monitoring, conducted Internal Audit on implementation of the system, and supported the Fund in responding to queries from the investors.