Anglo SDG Loan (IFC-43403)

Countries
  • South Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 27, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
ANGLO AMERICAN CAPITAL PLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 6, 2022

Disclosed by Bank Apr 27, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the proposed IFC investment will be a sustainability-linked loan (“SLL”) of up to US$100 million to Anglo American Capital plc (the “Borrower”), a wholly owned financing vehicle of Anglo American plc (“Anglo American”). IFC’s loan will support the Anglo American group’s education and livelihood activities aimed at delivering the education and livelihood goals under its Sustainable Mining Plan (“SMP”) in South Africa or, with the prior consent of IFC, any other jurisdiction. The Anglo American SMP, launched in 2018, sets forth a series of ambitious stretch targets and ambitions for 2025 and 2030 across the mining value chain, which are aligned with the UN Sustainable Development Goals (“SDGs”). This will be Anglo American’s first SLL and the first in South Africa’s mining sector supporting education and community development.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed A loan of up to US$100 million will be aimed at general corporate purposes in support of activities related to the Anglo American group’s livelihoods and education goals under its SMP in South Africa.

The A loan is structured as an SLL, following the Loan Market Association’s Sustainability Linked Loan Principles. IFC has assisted Anglo American in defining the key performance indicators (“KPIs”) for the SLL, assessing the ambitiousness of the targets, and drafting a sustainability-linked financing framework. The margin of the proposed SLL will be linked to two KPIs, related to the Anglo American group’s education and livelihood programs in South Africa and consistent with certain of Anglo American’s broader 2025 sustainability targets, as laid out in the Thriving Communities pillar of its SMP, of: (i) supporting schools in host communities to perform within the top 30% of state schools nationally; and (ii) creating or supporting three off-site jobs for every job onsite.       

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Anglo American PLC Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Anglo American Capital Plc
Aaron Field
Assistant Treasurer

aaron.field@angloamerican.com 
Anglo American Capital plc 17 Charterhouse Street, London, EC1N 6RA United Kingdom
https://www.angloamerican.com/ 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries 

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

How it works

How it works