Week 5 - Environmental and Social Risk

• What is environmental risk?


  The threat of harm to an environmental value.
• What is social risk?

  Social risk is the uncertainty that matters for a human or social value.
• What are social values?


  Aspects of human life and society that are fundamental to health and safety, the ability to lead a fulfilling life and the structures and institutions that support a functioning society to progress in a direction of their choice.
• What is stakeholder engagement?


  The process of establishing a diologue with stakeholders so that different perspectives can be identified, understood and incorporated into the project design and management.
• At what stage of the project should stakeholder engagement occur?

  Across all stages.
• What is the difference between strategic and operational risk?

  • Strategic Risk: social and environmental risks which are in the realm of the company board and senior executives
  • Operational Risk: the construction, operation and closure and rehabilitation
• What does ESIA stand for?

  Environmental and Social Impact Assessment
• What are the four stages of ESIA?

  1. Baseline studies (environmental and social context of a project)
  2. Impact assessment (assess the project definition to identify the impacts that will be caused by the project on its environmental and social context)
  3. Impact mitigation (development of avoidance, reduction and mitigation strategies to reduce impacts and to increase positive outcomes)
  4. Monitoring and compliance (continues for duration of the project)
• What do we mean by social license to operate?


  an informal agreement that infers an ongoing acceptance of a project by the affected stakeholders
• What is the stakeholder power-interest grid?


  It is the grid of people with levels of power and levels of influence which help us categorise what we need to do (keep satisfied, manage closely, monitor or keep informed)

  
• What is the strategy for managing stakeholders with a high interest and low power?

  Keep informed
• List some examples of how a project may be enhanced to address identified social risks (opportunities)

  Benefit the local community through:

  • Jobs
  • Income
  • Health
  • Energy
  • Water
  • Cultural Heritage
  • Roads
  • Education