Process of Revising JBIC Guidelines for Confirmation of Environmental and Social Considerations (Revision in 2015)

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 “JBIC verifies the status of the implementation of the Guidelines, and, based on its findings, conducts a comprehensive review of the Guidelines within five (5) years of the enforcement of the JFC Guidelines in October 1, 2009. Revisions may then be made as needed. When making revisions, JBIC will seek the opinions of the Japanese Government, the governments of developing countries, Japanese companies, experts, NGOs, etc., while maintaining transparency in the process".

In view of the revision of the Environmental Guidelines, after December 2013, JBIC held consultation forums and invited public comments on the draft of the revised Guidelines (from November to December 2014), and established the current version of the Environmental Guidelines in January 2015.  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.

Note
  • *1 JBIC has established the Environmental Guidelines which is same in term of contents as "JFC Guidelines for Confirmation of Environmental and Social Considerations" (enforced on October 1, 2009) by JBIC’s predecessors, Japan Finance Corporation.