Abstract: . . .  and/or foreclosures should always be preceded by a re-assessment of environmental risk. This is in order to determine whether the changed project carries environmental and social risks and opportunities that were not considered in the initial review. The environmental monitoring of the project should continue until the loan has been repaid, the financial institution or investor has divested its equity share in a company, or the operation has been cancelled. Contact: Daniel Kaufmann BASE Basel, Switzerland . . .
. . .  includes both the real cost of the mitigation measure itself, as well as the potential costs associated with non-compliance (e.g. increased charges, fines and other penalties, the closure of an operation by environmental authorities, project delays due to permitting requirements, etc). Estimating such costs is important even if the financial institution or investor may not be directly responsible for them: first, any unforeseen costs can compromise the financial viability of the proposal; and secondly, . . .
. . .  the review of relevant information, as well as on the analyst’s experience and common sense. The purpose of filling in the Table is to allow the analyst to make an initial estimate of the issues that should be analysed in the further environmental due diligence process. This may lead to an EIA (environmental impact assessment) or other procedures. b. Determining measures to mitigate risk Once the environmental and social risks of the project have been identified and assessed, the next step is to determine . . .
. . .  projected investment does not carry financial, legal, or environmental liabilities beyond those that are clearly defined in an investment proposal. The environmental component of the due diligence procedure is referred to as environmental due diligence (EDD). Originally, lenders or investors used EDD to manage environmental risks and liabilities stemming from an investment decision. Recently, it has become a way for financial institutions to incorporate environmental and social considerations in their . . .
. . .  energy and environmental policy and research circles that procedures for environmental due diligence of Renewable Energy Technologies (RETs) are poorly defined and financiers must often adopt ad hoc procedures for environmental review. Although most renewable energy technologies are environmentally sound in theory, all of them can have negative impacts on the environment if poorly planned. The following is a draft of proposed Guidelines for Environmental Due Diligence of biomass energy systems. The . . .
. . .  should continue until the loan has been repaid, the financial institution or investor has divested its equity share in a company, or the operation has been cancelled. Contact: Daniel Kaufmann BASE Basel, Switzerland Tel.: +41 61 283 09 17 daniel.kaufmann@energy-base.org  . . .
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