The deadline for the Hydropower Sustainability ESG Assessment Fund announced in February has been extended to 1 June 2020.
The decision comes as a response to the general disruption caused by the coronavirus pandemic.
“In a moment where we all had to make adjustments in our personal lives and professional activities, we understand a deadline extension is fair for all applicants. This will hopefully give everyone more time to plan, prepare and submit proposals,” said Joao Costa, Senior Sustainability Specialist at IHA.
All criteria of the initial Call for Proposal are upheld, and assessments can be conducted any time up to 31 December 2021.
The fund was launched to aid hydropower project developers and operators in Africa, Asia, Europe and the Americas to benchmark and raise their social and environmental performance.
Under the initiative, a total of 1 million Swiss Francs (USD 1.02m) will be awarded to 40 or more hydropower projects between 2020 and 2024.
Successful recipients will receive a grant to part-finance the cost of commissioning an independent project assessment using the Hydropower Sustainability ESG Gap Analysis Tool (HESG), a tool based on the Hydropower Sustainability Assessment Protocol and governed by a multi-stakeholder coalition of NGOs, governments, banks and multilateral institutions.
The scheme is managed by the International Hydropower Association’s sustainability division and funded by Switzerland’s State Secretariat for Economic Affairs (SECO).
The first tranche of funding of CHF 250,000 in 2020 will be made available for eligible projects in the following countries: Albania, Bosnia-Herzegovina, Colombia, Egypt, Ghana, Indonesia, Kosovo, Kyrgyz Republic, North Macedonia, Peru, Serbia, South Africa, Tajikistan, Tunisia, Ukraine, Uzbekistan and Vietnam.
Projects under preparation and development, as well as those already in operation, are all eligible for the grant. Applicants will need to demonstrate a strong track record or commitment to sustainability and show that their project aligns with national or regional development policies.
Learn about the Hydropower Sustainability ESG Gap Analysis Tool and how to apply to the fund: hydropower.org/esg-tool.