Environmental and social policy

The Bank seeks to minimize financing of projects that have a negative impact on the environment and the social sphere and produce environmentally hazardous products. Among the priorities, Bank pays attention to lending to ecologically clean industries, resource-saving projects and projects, aimed at introducing of technologies for the widespread use of renewable energy sources. 

 

The Bank is constantly making efforts to develop and implement effective measures to identify, assess and manage of environmental and social risks, arising from its lending activities and activities of its customers, paying special attention to the following: 

 

(i) Prohibition on financing projects from the list of activities prohibited for financing and from the list of types of bank loans, prohibited by the Central Bank of Republic of Uzbekistan 

 

(ii) Assessment of projects financed by Bank for compliance with legislative acts and regulatory documents of Republic of Uzbekistan in field of environmental protection, labor protection, health and safety of population; 

 

(iii) Funding of projects only, when their design, construction, operation and technical maintenance complies with currently applicable requirements on environmental protection, labor protection, health and safety of population; 

 

(iv) Ensuring that potential borrowers meet the following terms: 

• absence of past or current obligations, associated with non-compliance with requirements of legislation on environmental protection, labor protection, health and safety of population, as well as any fines and penalties; 

• availability of appropriate resources to provide proper management of possible impact on the environment and social sphere (funds, personnel and their qualification); 

 

(v) For projects, having potentially significant environmental and / or social impact (high risk level), application of requirements of IFI regulations to sub-projects, including, but not limited to: 

• Safeguard Policy Statement of Asian Development Bank’s as of 2009; 

• Performance Standards for Environmental and Social Sustainability of International Finance Corporation (IFC) as of 2012; 

• Requirements of EBRD for implementation of projects from 2019. 

 

(vi) Prevention, and when prevention is impossible, minimization of negative impact of projects financed by Bank to the environment, employees and population; 

 

(vii) Exclusion in funded projects of use of any form of child and / or forced labor (with a special attention on projects in the agricultural and / or textile sectors); 

 

(viii) Cooperation with borrowers in order to explain Bank's environmental and social requirements and to ensure compliance with currently applicable requirements on environmental protection, labor protection, health and safety of population; 

 

(ix) Ensuring the compliance of Bank's internal activities with leading practices on human resources administration,  including provision of safe labor conditions for own employees, excluding discrimination and securing equal opportunities, excluding child and forced labor; 

 

(x) Taking into consideration of environmental characteristics of purchased goods, works and services and encouraging participants in Bank's supply chain to conduct business in an environmentally and socially responsible manner; 

 

(xi) Promotion of projects with advantages in sphere of environmental protection, labor protection, health and safety of population; 

 

(xii) Reduction of volume of resources, including electricity and heat energy, water, paper and other inventory holdings, consumed by Bank in course of performing its administrative and economic activity, reduction of volume of waste and ensuring their rational salvaging, including office equipment and IT components, and also increasing the environmental awareness of employees; 

 

(xiii) Ensuring that Bank's activities in the area of identifying, assessing and managing of environmental and social risks comply with the requirements of the International Financial Institutions, with which Bank cooperates;

 

(xiv) Integration of environmental and social risks into banking risk management system.