At the request of the European Bank for Reconstruction and Development (EBRD), TBC reviewed the EBRD Environmental & Social Policy and Performance Requirement 6 and made recommendations for their revision. We benchmarked current EBRD policies against peer bank policies, made recommendations for changes to address lessons learned during implementation of the current policies, and identified emerging issues which could be addressed in revised policies.
TBC facilitated a stakeholder workshop as part of the revision process, to ensure concerns and practical advice were incorporated from banks, conservation organisations and companies alike. The new Performance Requirement 6 (PR6) builds on the strengths of its predecessor, but is considerably more concise. It is now very compatible with other leading safeguard policies, such as International Finance Corporation Performance Standard 6. The new PR6 also includes a novel alternative to the sometimes confusing distinction between Natural Habitat and Modified Habitat, by identifying one simple priority layer underneath Critical Habitat. We are now also providing support to development of a guidance note to accompany Performance Requirement 6.