Corporate Social and Environmental Responsibility
THE NORDIC PROJECT FUND'S SOCIAL AND ENVIRONMENTAL GUIDELINES FOR APPLICANTS
1. Aim of guidelines
These guidelines are aimed at the enterprises that apply for Nopef loans and are designed to transmit the values of the fund and to express what the fund expects from the applicant.
Nopef strives to promote the values stated in this document, both in their own work and in the activities of their clients.
2. General principles
The recipients of Nopef loans are, within the framework of their influence, expected to embrace and implement a number of important values in their activities. The values include human rights, labour rights, corruption prevention, environment and animal welfare, as set out in this document.
These values are mainly based on a number of international conventions and regulations, such as the OECD Guidelines for Multinational Enterprises, the ILO fundamental conventions and the UN “Global Compact”. These values shall be reflected and integrated into the feasibility studies where Nopef is part-financer. The aim is that the loan recipient retains the values in their activities even after the feasibility study is completed, when Nopef is no longer in a position to monitor the enterprise.
Nopef is a public institution, and as such, committed to promoting a work ethic that includes complying with local legislation and regulations. Where an enterprise receives Nopef support, it may neither contravene nor attempt to circumvent the legislation of the Nordic countries.
The environmental and animal protection legislation and regulations of the company’s domicile must also be complied with, as well as international regulations, where these are deemed to improve the standard of business activities.
3. Social and environmental guidelines
3.1. Human rights
An enterprise that receives a Nopef loan must embrace and respect human rights, as set out in the UN Universal Declaration on Human Rights. The enterprise shall ensure that it is not an accessory to human rights violations.
3.2. Rights at work
An enterprise that receives a Nopef loan must embrace at least the UN convention on the rights of persons with disabilities (2006) and the four fundamental rights set out in the ILO Declaration on Fundamental principles and Rights at Work (1998):
- Freedom of association and the effective recognition of the right to collective bargaining (C87 & C98)
- The elimination of all forms of forced or compulsory labour (C29 & C105)
- The effective abolition of child labour, the first priority being the elimination of harmful child labour (C138 & C182)
- The elimination of discrimination in respect of employment and occupation (C111)
3.3. Anti-Corruption
Nopef has a zero-tolerance policy as concerns corruption. Enterprises that receive Nopef support are expected to counteract all forms of corruption, including extortion and bribery. Infractions of these guidelines will result in a demand for repayment of loans.
The recipients of Nopef loans are, within the framework of their influence, expected to embrace and implement the regulations set out in the anti-corruption conventions below:
- The United Nations Convention Against Corruption
- The OECD Convention on Combating Bribery of Foreign Officials in International Business Transactions
- OECD Guidelines for Multinational Enterprises 2000 (VI. Combating Bribery)
3.4. Environment
Enterprises that receive Nopef support are expected to embrace the environmental principles set out in the UN "Global Compact", which is based on the Rio Declaration on Environment and Development (1992). The principles include the requirements:
- Enterprises shall support a cautionary approach with respect to environmental challenges;
- undertake to comply with initiatives that support increased environmental responsibility; and
- stimulate/promote the development of environmentally friendly technology.
Nopef loan recipients undertake to comply with local legislation and regulations, with the environmental legislation and regulations of their Nordic domicile and with the environmental legislation of the European Union. In addition, the enterprises shall comply with the relevant international environmental regulations, where such compliance is deemed an improvement to the environmental standard of business operations.
In their loan application, enterprises shall include a description of the expected environmental impact of their project.
In the feasibility study, the enterprise shall identify the positive and negative environmental consequences of the main project, and then set up a plan of action for handling environmental issues.
In the semi-annual project reports the loan recipient shall report on the environmental work included in the feasibility study.
3.5. Equality
An enterprise that receives a Nopef loan must embrace and implement at least, the UN convention on the rights of persons with disabilities (2006) and the C100 Equal Remuneration Convention and the C111 Discrimination (Employment and Occupation) Convention of the ILO Declaration on Fundamental principles and Rights at Work (1998).
If the project is expected to have an impact on equality, the applicant for project funding must include a report on all equality aspects (including equlity aspects of people with disabilities) of the project, both in the initial Nopef application and in subsequent project reports.
3.6. Animal welfare
The following guidelines shall apply to projects where animals are involved.
The Nopef guidelines for animal welfare shall promote increased awareness of the importance of treating commercially exploited animals well.
Nopef loan recipients undertake to comply with local legislation and regulations, with the animal welfare legislation and regulations of their Nordic domicile and with the animal welfare legislation of the European Union.
Where a Nopef loan applicant applies for a grant that involves commercial exploitation of animals, the application must include a description of the way animal welfare aspects are taken into account within the scope of the project.
In the feasibility study, the enterprise shall identify the animal welfare aspects of the main project, and then set up a plan of action for handling these issues.
In the semi-annual project reports the loan recipient shall report on what has been done in connection with animal welfare issues in the feasibility study.