Within the global challenges we face, the sustainable development goals (SDGs) will be the blueprint to achieve a better and more sustainable future for all. We believe that sustainable development considerations are integral to our business and activities. LCP strives to ensure effective Environmental & Social management of all its activities and investments with a special focus on the following:
Ensuring that E&S risk considerations are integrated in all of its financial activities
Ensuring that all activities undertaken by Lorax are consistent with its applicable requirements namely the Egyptian regulations and the Equator Principles;
Avoiding investing in companies with operations that fall under the Lorax Exclusion List;
Investing in companies only when they are expected to be operated and maintained in a manner consistent with the applicable requirements
Ensuring that all investees are diligent in their reporting on E&S metrics and compliance with the applicable requirements on a periodic basis;
Communicating E&S expectations and conditions to staff, investees, clients and all stakeholders;
Ensuring that the management and the shareholders of the companies/investees are familiar with the E&S policy, commitments, expectations and conditions.
LCP has in place an E&S Management System in place and the core elements are as follows:
Environmental and social policy
Process for screening deals
Process for risk categorization
Due diligence process
Periodic monitoring and record keeping
LCP has a system in place in dealing with external communication of E&S matters. This will include inquiries, grievances or comments. Communications should be sent through email or letters to the below mentioned addresses;
1 El Gabalaya Street, Zamalek, 7th floor Cairo, Egypt 11211
The concerned party should provide the details for his/her grievance or inquiry. He/she will leave his/her contacts for easy communication. Letters of inquiries and grievances will be forwarded to the E&S officer.
The grievance or inquiry will be examined by the E&S officer. The E&S officer will contact the concentered party for more information, if needed. The request will be included in the project file. Depending on the type of grievance, the E&S officer will forward the grievance or inquiry to the concerned party (company management or fund senior management). The investigation of the grievance may require document review, auditing, site visit as well as meetings with the concerned party. Corrective actions will be undertaken.
All communications will be responded to in a timely manner.