What is an environmental impact assessment (EIA)?
“EIAs are usually carried out by independent consulting firms, on behalf of the respective companies, and include project descriptions; policy, legal and administrative frameworks; environmental impacts; as well as monitoring and management plans. The EIA process is regulated by EU and national legislation. NIB utilises the EIAs in its own assessment process.” What are the other means of evaluating projects considered for funding? “Environmental audits are conducted in conjunction with company acquisitions or in projects where possible environmental liabilities have been identified. An environmental audit is required for projects in which there is an obvious risk of the project sponsor facing costs of environmental damage, such as contaminated soil or polluted groundwater.” “All category A projects are monitored, as well as other projects with an identified need for follow-up. The monitoring is carried out either by personnel from the environmental unit in my department or by independe
