Export Finance Australia engages an independent environmental and social expert to review the application of its Policy and Procedure for environmental and social review of transactions periodically.
Export Finance Australia has commissioned three reviews, in 2012, 2014 and 2016. Results of the reviews are provided below.
Ernst & Young (EY) undertook the third independent review of the Policy and Procedure. This was completed at the end of September 2016.
A copy of the EY report can be found here.
The review conclusion is:
In our opinion, the environmental and social review of transactions and, where relevant, their associated projects completed by Efic, between 21st July 2014 and 30th June 2016, was properly completed, in all material respects, in accordance with the requirements of the Efic Policy for environmental and social review of transactions and the Efic Procedure for environmental and social review of transactions.
The review report provided three recommendations to further improve Efic’s internal processes.
Copies of the previous reviews are provided below: