Climate Corporate Governance and Low-Carbon Pathway Development - Egyptian General Petroleum Corporation (EBRD-9868)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
*Borrower information not provided at the time of disclosure*
The holder of the loan, grant, or other investment.
Sectors
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 4, 2021

Disclosed by Bank Dec 30, 2020


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Project Description

According to bank provided information, the Bank intends to engage a consultant to support EGPC to enhance its corporate governance for effective climate action (“climate corporate governance” or “CCG”) and develop a LCP that is consistent with Paris Agreement objectives. This will help the Company to identify, assess and manage the risks and opportunities associated with climate change that may arise within and affect its business operations, and align its business strategy and operations accordingly.

The objectives of this Assignment are the following:

a) Perform an initial scoping exercise to identify potential entry points to strategically address climate change mitigation and adaptation issues within EGPC;

b) Assess and benchmark the Company’s corporate climate governance, management practices and systems to identify areas for improvement in line with industry standards, best practice and emerging disclosure requirements;

c) Develop a LCP that is consistent with the Paris Agreement objectives

d) Identify the corresponding mitigation measures to be implemented

e) Provide recommendations on how these climate action priorities (CCG and LCP) could be implemented in the context of the company’s business operations, including potential climate-related disclosures by developing a company-specific roadmap

f) Provide training and upskilling to a group of persons within EGPC who will work on the project from start to finish and that can support and oversee the implementation of the actions identified.
 

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Egyptian General Petroleum Corporation Client -

Contact Information

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en 

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html