ESG study of Residential project “ADARSH GREENS” at Bangalore, Karnataka
ECOGENESIS PMC Pvt Ltd (ECOGENESIS) was appointed by LICHFL, Mumbai as an E & S Lender’s advisor to undertake an ESG Due Diligence (ESDD). The ESDD is to support Adarsh Haven Pvt Ltd, Bangalore and its investor for decision and follow-up approach and strategies by independently reviewing and verifying the project against the reference framework, identifying compliance gaps, necessary mitigation and follow-up actions, and outlining a managing/ monitoring regime. The assessment has been undertaken in accordance with the applicable national regulatory framework and International Finance Corporation’s (IFC) Performance Standards (PS) on Social and Environmental Sustainability, 2012; IFC’s general guidelines of Environment, Health and Safety, Relevant ILO conventions covering labour standards.
Key Observations:
- Adarsh developer needs to submit half yearly EC compliance.
- Developer must take care regarding group accident insurance.
Inference: The assignment has been ended with reviewing secondary data, site visit, consultation with PP & LICHFL and finally approved by LICHFL for funding.
