Environmental and social responsibility. 11.6.1 Implementation of environmental and social measures In order to promote sustainable development, the Parties agree that it is necessary to promote compliance with internationally recognised environmental and labour standards, including fundamental conventions of the International Labour Organization (“ILO”) and the international environmental laws and regulations applicable in the Borrower’s jurisdiction. For such purpose, the Borrower shall: with respect to its business activities:
Environmental and social responsibility. 11.5.1 Implementation of environmental and social measures In order to promote sustainable development, the Parties agree that it is necessary to promote compliance with internationally recognised environmental and labour standards, including fundamental conventions of the International Labour Organization (“ILO”) and the international environmental laws and regulations applicable in the Borrower’s jurisdiction. For such purpose, the Borrower shall, with respect to its business activities in the context of the Operation: - Comply with international standards for the protection of the environment and labour laws, particularly the fundamental conventions of the ILO and the international environmental conventions, in accordance with the applicable laws and regulations of the Republic of Serbia ; - Put in place appropriate mitigation measures specific to the Operation as defined within the context of the environmental and social risk management policy of the Operation as described in the ESCP attached as Schedule 3D (Environmental and Social Commitment Plan). The Lender reserves its right to exclude projects and budget items that do not comply with its own applicable regulations, in particular its Exclusion List as attached in Schedule 9 (List of Exclusions), from the Expenditure Framework at any point during Operation implementation.