Environmental and Social Due Diligence
Environmental due diligence is a legal and technical examination conducted to ensure compliance with state and federal environmental laws or standards. Due diligence can also be used to gather data on environmental conditions for the purpose of allocating liability and managing environmental risks.
Some of the reasons why an Organization decides on the adoption
and implementation of a are the following:
What is environmental due diligence?
Environmental due diligence is a legal and technical examination conducted to ensure compliance with state and federal environmental laws or standards. Due diligence can also be used to gather data on environmental conditions for the purpose of allocating liability and managing environmental risks.
Benefits for the Organisation
The environmental due diligence audit ensures future regulatory compliance and minimises potential issues, as well as the property's future energy and waste costs.
Due diligence can aid organisations in minimising negative environmental and social impacts on people, the environment, and society, thereby contributing to global sustainability goals.
Financial institutions benefit
The purpose of environmental and social due diligence is to review any potential environmental and social risks associated with a prospective client/business investee's activities (not non-commercial/individual borrower) to ensure that the transaction does not involve environmental or social risks that could result in a potential liability/risk to the financial institution.
Environmental and social due diligence is a systematic process that identifies, quantifies, and assesses/evaluates environmental and social risks associated with a proposed transaction. Additionally, this process assists in identifying the mitigation measures necessary to mitigate any identified environmental and social risks. The extent and level of detail of environmental and social due diligence are determined by the environmental and social risk category of the transaction and will vary by transaction type.
Interested Organizations
The ESDD requirements apply to any organisation that wishes to ensure future regulatory compliance while also minimising potential issues, as well as future energy and waste consumption.
Any Organisation or Financial Institution interested to achieve certification / auditing services according to the above schemes should contact Cyprus Certification Company via e-mail (info@CyCert.org.cy ) or telephone (+ 357 22 411435) for additional information.
To obtain a quotation, click on GET A QUOTE and complete the online application. Alternatively, you may complete and send the certification application to info@CyCert.org.cy or by fax to +357 22 519115. To learn more about the certification process, please click here.
