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Environmental and social safeguards are the cornerstone of CGIF’s support to bond issuers to promote environmentally and socially sustainable growth across the ASEAN+3 region.
Our Safeguards Policy aims to help bond issuers address environmental and social (E&S) risks in their corporate or project related financing through minimizing and mitigating any adverse impacts on people and the environment. CGIF works with bond issuers to put policy principles and requirements into practice through the review, support and enhancement of project or corporate E&S management systems and/or corrective action plans (where required) to manage identified risks.
Our Environmental and Social Safeguards Framework provides the requirements and internal processes for consistent assessment, implementation and ongoing monitoring of the E&S risks of bond issuers and the underlying transactions. This Framework provides the procedures and disclosure requirements for classifying bonds depending on the mode of funds use and classification of the level E&S Risks.
As part of our Safeguards Policy and Framework, CGIF undertakes environmental and social due diligence (ESDD) on the corporate or project related activities where proceeds from the bond issuance will be utilised. The ESDD is performed to identify any associated environmental and social (E&S) risks and to develop remedial actions and management plans to minimize these risks.
The following page provides access to the summaries of ESDD assessment undertaken for bond transactions, including the proposed use of bond proceeds, the E&S risk categorisation and a summary of the key risks and mitigants.
Our Integrity Policy specifies how CGIF conducts integrity assessments and annual integrity reviews on all proposed and ongoing bond issuers respectively, to identify and mitigate integrity risk and promote the highest ethical standards. These reviews and assessments include, inter alia, Know Your Customer (KYC), tax transparency, sanctions, anti-money laundering and terrorism financing screening checks on the bond issuers and significant associated parties. The objective of the Policy is also to further strengthen the accountability of Bond Issuers through their controls over processes and activities and enhance transparency in documentation and disclosure