Mainstreaming Sustainability
We have integrated ecological thinking into our work from the start
We have always believed that ecological thinking is critical for both sustainability and competitiveness in the process of development. From the start, we have endeavoured to mainstream environmental and social considerations in our project cycles.
IL&FS became the first non-banking financial institution in India to establish a system of environmental and social governance, long before sustainability was the buzzword it is today.
In 1995 we developed an Environmental and Social Report (ESR) drafted according to the requirements of the World Bank. We then underscored our interest to pursue Environmental and Social Governance in our business operations by signing the United Nations Environmental Programme Finance Initiative in 2006.
In 2007 we expanded the ESR to create the Environmental and Social Policy Framework (ESPF) to proactively add value, enhance sustainability, and minimize risks in all our projects across our businesses. Customized to each business vertical, the ESPF helps to meet national and lenders' compliance requirements, and identify opportunities to add value to our projects, transactions and advisory assignments.
IL&FS team members underwent a year-long awareness program to ensure that each member was given an opportunity to learn, understand and incorporate the key concepts and drivers behind the ESPF.
Read the details:
The IL&FS Environmental & Social Policy Framework (Vol. I)
