Client: European Bank for Reconstruction and Development (EBRD) / Universal Bank
Country: Uzbekistan
Project: Development and implementation of the Environmental and Social Risk Management System (ESRM / ESMS) of JSCB "Universal Bank" in accordance with EBRD requirements
Objective: To support Universal Bank в in the development and implementation of the ESRM / ESMS, which will be integrated into the bank's existing risk management systems. ESRM / ESMS should be consistent with the bank's current portfolio and take into account the strategy to expand the list of projects for medium and large corporate clients, including projects with a high level of risk.
The ESMS introduced should ensure that investment projects are implemented in accordance with the requirements of the EBRD's Environmental and Social Policy (ESP).
ENSOR approach:
During the project implementation, the following key tasks were undertaken:
·Development of ESRM / ESMS, including Environmental and Social Policy, Procedure and instruments in accordance with the requirements of the EBRD ESP (2019);
·Support the bank in determining the organizational structure, roles and responsibilities of employees in managing environmental and social aspects of its operations;
·Conduct trainings for employees on working with the ESRM / ESMS, including the transfer of knowledge about the best international practices and tools for managing environmentalими and social risks.
Outcomes:
The project was implemented in four stages:
Phase 1: Document review and assessment of current environmental and social capacity (E&S)
A review of the bank's documentation and organizational structure in terms of managing E&S issues. Evaluation of the approach to manage E&S aspects, including analysis for compliance with the EBRD's PR9.
Stage 1.1. Assessment of compliance with the requirements of PR2 and PR4
Assessment of the quality of HR and health and safety management. Recommendations for achieving compliance with the requirements of EBRD PR2 and PR4.
Stage 2: Development of the ESRM / ESMS
Implementation of ESRM / ESMS, which meets the specifics of the bank's portfolio and the requirements of PR9. Integration of the procedures into the existing risk management systems.
Development of an Environmental and Social Policy that reflects the Bank's commitments to comply with PR2 and PR4 in its operational and investment activities.
Stage 3: Training and capacity building
Conducting a series of trainings in order to raise awareness of the Bank's employees about: 1) the EBRD's E&S requirements, 2) the objectives and benefits of implementing the ESMS, and 3) how it can be applied in practice. Format of the event: online and face-to-face with visits to borrowers ' facilities.
The training used elements of existing EBRD training programs, as well as additional materials developed by the consultant and adapted to the bank's needs.
Assessment of the needs for additional training and capacity development for E&S professionals and other staff working with ESRM / ESMS on a regular basis.
Stage 4. Support for the implementation of the ESRM / ESMS
Support for the practical implementation of the ESRM / ESMS during the first 6 months after its approval by the bank's Management Board.
Country: Uzbekistan
Project: Development and implementation of the Environmental and Social Risk Management System (ESRM / ESMS) of JSCB "Universal Bank" in accordance with EBRD requirements
Objective: To support Universal Bank в in the development and implementation of the ESRM / ESMS, which will be integrated into the bank's existing risk management systems. ESRM / ESMS should be consistent with the bank's current portfolio and take into account the strategy to expand the list of projects for medium and large corporate clients, including projects with a high level of risk.
The ESMS introduced should ensure that investment projects are implemented in accordance with the requirements of the EBRD's Environmental and Social Policy (ESP).
ENSOR approach:
During the project implementation, the following key tasks were undertaken:
·Development of ESRM / ESMS, including Environmental and Social Policy, Procedure and instruments in accordance with the requirements of the EBRD ESP (2019);
·Support the bank in determining the organizational structure, roles and responsibilities of employees in managing environmental and social aspects of its operations;
·Conduct trainings for employees on working with the ESRM / ESMS, including the transfer of knowledge about the best international practices and tools for managing environmentalими and social risks.
Outcomes:
The project was implemented in four stages:
Phase 1: Document review and assessment of current environmental and social capacity (E&S)
A review of the bank's documentation and organizational structure in terms of managing E&S issues. Evaluation of the approach to manage E&S aspects, including analysis for compliance with the EBRD's PR9.
Stage 1.1. Assessment of compliance with the requirements of PR2 and PR4
Assessment of the quality of HR and health and safety management. Recommendations for achieving compliance with the requirements of EBRD PR2 and PR4.
Stage 2: Development of the ESRM / ESMS
Implementation of ESRM / ESMS, which meets the specifics of the bank's portfolio and the requirements of PR9. Integration of the procedures into the existing risk management systems.
Development of an Environmental and Social Policy that reflects the Bank's commitments to comply with PR2 and PR4 in its operational and investment activities.
Stage 3: Training and capacity building
Conducting a series of trainings in order to raise awareness of the Bank's employees about: 1) the EBRD's E&S requirements, 2) the objectives and benefits of implementing the ESMS, and 3) how it can be applied in practice. Format of the event: online and face-to-face with visits to borrowers ' facilities.
The training used elements of existing EBRD training programs, as well as additional materials developed by the consultant and adapted to the bank's needs.
Assessment of the needs for additional training and capacity development for E&S professionals and other staff working with ESRM / ESMS on a regular basis.
Stage 4. Support for the implementation of the ESRM / ESMS
Support for the practical implementation of the ESRM / ESMS during the first 6 months after its approval by the bank's Management Board.