NIB conducts an internal environmental review of all loan applications. The review includes:
The scope of the review and information required depends on the nature and scale of the project and the level of the environmental impacts. The scope of the review generally applies to the entire project, site or company in question, but may be expanded to the related business activities of the project.
Sustainability policy and guidelines (443 KB)
NIB categorises every project according to its environmental impact, taking both risks and opportunities into account. This screening determines what environmental information is requested. The categories are:
The project has the potential for making an extensive environmental impact or the legislation of the project's host country requires an environmental impact assessment (EIA). The project must undergo a full EIA. Projects with potentially extensive environmental impacts (category A projects) are made publicly available by NIB for comment on the environmental aspects before the Bank makes a decision on financing the project.
The project has the potential for making a moderate environmental impact. The project must undergo an environmental analysis. The scope and format of the environmental analysis will vary depending on the project, but will be more focused than an EIA.
Projects with minimal or no adverse environmental impacts. The project is not required to undergo any formal EIA.
Loan programmes realised through intermediaries.
Information on the categories of projects NIB has financed can be found in the Annual Report.
Based on the categorisation, NIB indicates to the customer what type of environmental information NIB needs. The information requested may include:
NIB rates all projects as having either a positive, neutral or negative environmental impact. A whole project or part of it can be rated as having a positive environmental impact and the project is thus determined to be an environmental project.
Information on the rating of projects NIB has financed can be found in the Annual Report.
NIB classifies projects as either 0 or 1 projects, depending on the need for an environmental audit/environmental due diligence. Such a report may be needed, for example, as concerns mergers and acquisitions. The need for an environmental audit is different from the need for an environmental impact assessment (EIA), and these two do not substitute for one another.
Based on its review, NIB indicates certain requirements concerning the project, as described in the Bank's Sustainability policy and guidelines.
Summaries of projects with potentially extensive environmental impacts (category A projects) are made publicly available for comment on the environmental aspects before the Bank makes a decision on financing. Summaries are available on NIB's website at least 30 days prior to the decision.
NIB monitors projects having the potential for making an extensive environmental impact and being categorised as A projects, as well as other projects that are determined on a case-by-case basis.
NIB's loan will be used for the renovation of university buildings in Ukraine for better energy efficiency and to reduce greenhouse gas emissions.
21 Dec 2017
On 19 December, the city of Petrozavodsk and its water utility PKS inaugurated an upgraded wastewater treatment plant on the shore of Lake Onega.
19 Dec 2017
A loan to the City of Tartu will finance municipal investments in road infrastructure and education institutions.
30 Nov 2017