Based on JBIC Guidelines for Confirmation of Environmental and Social Considerations (hereinafter referred as to "Environmental Guidelines"), JBIC confirms that project proponents shall undertake appropriate environmental and social considerations in projects subject to lending, equity participation, and guarantee by JBIC.
The Environmental Guidelines*1 stipulates that "After five (5) years have passed since the enforcement of the Guidelines, JBIC verifies how the Guidelines was implemented for those five years, and based on its findings, conducts a comprehensive review of the Guidelines. JBIC may revise the Guidelines as needed. When making revisions, JBIC will seek the opinions of, among others, the Japanese government, the governments of developing countries, Japanese companies, experts, and NGOs, while maintaining transparency in the process ".
In view of the revision of the Environmental Guidelines, after February 2021, JBIC held consultation forums and invited public comments on the draft of the revised Guidelines (from March to May 2022), and established the current version of the Environmental Guidelines in May 2022. The consultation forums for the revision of the Environmental Guidelines were jointly held by Nippon Export and Investment Insurance (NEXI), which was also in the process of revising the Guidelines on Environmental and Social Considerations in Trade Insurance.