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Celebrating Ten Years in BusinessMaking Projects Bankable, Credible & Sustainable
Prizma Celebrates 10 Years in BusinessIn October 2004, Mehrdad Nazari, a former environmental and sustainability specialist from the European Bank, set up Prizma as a boutique and well-networked advisory practice. Prizma assists developers and investors by making their projects in emerging markets more bankable, credible and sustainable.
As detailed further in this newslet-ter, our projects have taken us from gold mining in Central Asia to wind farming in Central America. We have contributed to environmental and social impact assessments, served as experts in international arbitration, developed management systems, assisted with sustainability reporting and assurance, and provided training
on IFC Performance Standards and Equator Principles.
We invite you to visit and subscribe to our blog www.prizmablog.com for more information and updates. We also look forward to hearing about your challenging projects to discuss how we can assist.
Supporting Largest Wind Project in Central AmericaPrizma has been working on multiple phases of the Penonomé Project, Panama, which is the largest wind farm development in Central America. The first phase (55 MW) involved a special purpose company controlled by Goldwind, one of the world’s top ranked wind turbine manufacturers. The project successfully mobilized over $70 million in project financing from ‘Equator Banks’.
Subsequently, Prizma was also invited to support the next two phases (215 MW) of the Penonomé Project which are controlled by InterEnergy Holdings (IEH), a private company with significant presence in the energy sector in the region. IFC, a minority shareholder in IEH, recently announced a $300 million financing package for the construction of Phase II and Phase III of the Penonomé Project. Prizma’s contribution included the alignment of environmental and social aspects of the Penonomé Project with the IFC Performance Standards and Equator Principles. Prizma LLC | +1.715.355.0141 | [email protected]
Mehrdad Nazari, Founding Director, Prizma
Working With Arbitration Winner Awarded $740MPrizma was engaged by White & Case LLP, representing Gold Reserve Inc.(Claimant), on a case before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). This case involved the expropriation of the Brisas Project by Venezuela (Respondent).
Prizma’s expert analysis and contributions focused on socio-cultural aspects, including stakeholder engagement, Indigenous Peoples, resettlement planning, and community development. These were benchmarked against the IFC Performance Standards and Good International Industry Practice.
Prizma worked alongside other experts from RPA, Micon, Tetra Tech, AATA, and Navigant.
Prizma has been contributing to the review of planned mining projects in Turkey and Burkina Faso. Prizma’s role for such assignments typically includes site visits, review of existing studies and plans, interviewing staff and selected stakeholders,
and providing an opinion about the project’s alignment with the Equator Principle and the underlying IFC Performance Standards. Prizma has also worked alongside of RPA in Gold Reserve Inc.’s international arbitration case.
Contributing to Independent Engineering Reviews Prizma has been supporting Roscoe Postle Associates (RPA), a leading group of technical professionals advising the mining industry, with its assignment as Independent Engineers on behalf of financial advisors and lenders/investors.
CAPTION | Prizma’s projects have ranged from indigenous territories in Venezuela to high mountain plateaus in Tibet
Prizma was engaged by InterEnergy Holdings (IEH) to support the development of its environmental and social due dili-gence procedures for new investments, and an Environmental and Social Management System (ESMS). Both were aligned with the IFC Performance Standards. IEH owns power generation and distribution assets in Latin America and the Caribbean.
In 2013, the World Bank’s International Finance Corporation (IFC) acquired a minority equity interest in IEH through a $100 million investment.
Prizma is also supporting IEH with training and capacity building. In addition, Prizma continues to support IEH with its investment in the utility-scale Penonomé wind farm development in Panama.
Assisting InterEnergy Holdings with ESMS
Advising IFC/MIGA Ombudsman OfficePrizma was engaged by the Compliance Advisor/Ombudsman (CAO) Office of IFC/MIGA, both part of the World Bank Group, to join an expert panel and review IFC’s involvement in the Karachaganak Oil/Gas Project in Kazakhstan.
Triggered by NGO and community complaints, the expert panel assisted the CAO Office to make a determination about the adequacy of how the IFC had assured itself that air emissions from the project complied with IFC requirements.
Prizma has been invited by Kumtor Gold, part of Centerra Gold, to contribute to a variety of environ-mental and sustainability engagements. Kumtor is the largest western-oper-ated gold mine in Central Asia, which has produced approximately 10 million ounces of gold since 1997.
Initially, Prizma was engaged to review a series of reports issued by Kyrgyz government commissions about the environmental and social performance of Kumtor.
Subsequently, Prizma has been assisting Kumtor with a variety of other projects. These include developing
a biodiversity manage-ment strategy, managing a Cyanide Code-driven wildlife-cyanide risk study (causation report), provid-ing training to Kumtor’s Community Relations Officers, and generating the company’s annual environ-mental and sustainability reporting.
Working on Kumtor Gold in Kyrgyzstan
CAPTION | Prizma contributes to mining projects and studies
Training on IFC PS & EPPrizma’s seasoned experts have been delivering numerous short courses on IFC Performance Standards and Equator Principles. These events have been commissioned or hosted by financial services groups, ranging from DNB in Olso to TD Bank in Toronto, large consulting and engineering firms, such as Parsons Brinkerhoff in London, and holding companies, such as InterEnergy.
HAPP
Y
HOLIDAYS 2014to you and yours from all of us at PRIZMA
208 Tuzigoot LaneWausau, Wisconsin 54403 USAwww.PrizmaSolutions.com
Mehrdad Nazari, MBA, MSc Director, ESIA & Sustainability Advisor
Blog | www.PrizmaBlog.com
Sustainability Reporting & AssurancePrizma spearheaded the development and delivery of the first GRI-certified training initiative in North America. As part of this initiative, Prizma—jointly with LEAD Canada, an NGO—delivered a dozen GRI-certified courses in Canada and the USA.
Prizma has largely exited the crowded GRI-certified training market but continues to support reporters. We boast an experienced team comprising technically competent and GRI-certified sustainability reporting practitioners, licensed
assurance providers, and creative graphic designers based in Canada, USA, Belgium and South Africa.
Prizma’s engagements range from generating GRI G4-based reporting for Lucara, a junior diamond producer, to facilitating a stakeholder panel involved in reviewing the World Bank’s G4-based reporting.
Prizma is currently also involved in an assurance engagement for a mining company with operations in Europe and North America.
2013 ENVIRONMENT AND SUSTAINABILITY REPORT
