In November 2013, in conjunction with its shareholder CDC Group plc, the UK’s development finance institution, Feronia developed a detailed comprehensive Environmental and Social Action Plan (ESAP) to help guide and prioritise its Environmental and Social programmes.
The ESAP was expanded in 2015 as a condition of the Company’s DFI Debt Financing and the implementation of the expanded ESAP forms part of the Company’s investment commitments to its principal shareholders and debt finance providers. The implementation of the ESAP is overseen by Feronia’s ESG Board Committee, with the Company’s main Board receiving regular updates on implementation progress. The ESG Board Committee also oversees all other environmental and social activities of the company.
Many of the ESAP actions that are related to the development and approval of plans and processes have been completed. Implementation of these plans and evolution of practices will of course remain an active and ongoing priority. As more and more ESAP actions are completed, the ESG Board Committee is increasingly focusing on continuously improving Feronia’s ESG performance generally while not losing sight of the outstanding ESAP actions.
The link above is to a high level summary of the ESAP as at September 2018 that the Company has developed and made public.