Social and Environmental Management System (SEMS) Policies and Procedures
The Business Risk Group (BRG) of RCBC has drawn a Risk Management Manual which provides a detailed discussion on each type of risk including the identification, measurement and management of risks.
For the management of environmental and social risks, the Bank has issued a Policy on Social and Environmental Management System. The Policy applies to borrowers of the Bank whose business operations and projects have environmental impacts and risks that should be managed in an on-going basis in relation to the environmental and social concerns of the Bank. In addition to the regular credit evaluation process, review/evaluation of all credit application/proposal for project/s for financing shall also consider social and environmental requirements such as the International Finance Corporation (IFC) Exclusion List, applicable national laws on environment, health, safety and social issues, and any standards established therein, and IFC Performance Standards. Environmental risk categories are assigned and credit approval obtained in accordance with requirements depending on the risk category. Environmental covenants are incorporated in the Loan/Credit Agreement, and periodically evaluated and monitored.