Introduction: 1 This Standard promotes an integrated approach to impact assessment and risk management by
ensuring that environmental, climate, social and human rights1 considerations are addressed and
taken into account in the decision-making processes. 2 This Standard recognises the importance of the promoters’ commitment to effective and sustained environmental and social performance through the establishment of an environmental and social management system commensurate with the identified impacts and risks. Objectives 3 This Standard outlines the promoter’s responsibilities2 with regard to the process of assessing the potential environmental, climate and/or social impacts and risks associated with the project, and developing and implementing procedures3 for managing and monitoring these impacts and risks throughout the EIB’s project cycle, specifically: a. Identifying, describing and assessing in an appropriate manner, the likely significant effects covering the direct effects and any indirect, secondary, positive and negative effects, as well as any cumulative and transboundary effects associated with the project and its ancillary/associated works/facilities, where appropriate; b. Applying the mitigation hierarchy through the identification of measures to avoid, prevent and reduce any significant adverse effects and, if required, remedy/compensate any residual effects on project-affected people, communities and workers, as well as on the environment; c. Ensuring respect for human rights by integrating human rights impacts and risks into the impact assessment process as described in this Standard; d. Identifying measures to maximise the positive effects of the projects and considering the establishment of project benefit-sharing and/or community development programmes, where appropriate; e. Systematically following up and monitoring the implementation of agreed prevention, reduction and, if required, remedial/compensatory measures, as well as measures to further enhance the environmental, climate and social performance of the projects.