Oil Search is committed to operating PNG Biomass in accordance with PNG’s legislative requirements, to adhere to applicable international principles, and to meet its own corporate environmental and social sustainability principles.
PNG Biomass has commissioned the preparation by independent experts of environmental, social, and economic impact assessments. The impact assessments have identified and assessed the intended and unintended environmental, social and economic consequences and change processes, both positive and negative, of PNG Biomass and propose methods to monitor and manage the project. An overall aim of the Project is to encourage a more sustainable and equitable biophysical and human environment.
The Project has been assessed against the Equator Principals and will be managed in line with the International Finance Corporation’s Performance Standards, Forest Stewardship Council (FSC) National Forest Management Standards for Papua New Guinea, Gold Standard for the Global Goals (GS), and the Roundtable On Sustainable Biomaterials (RSB).
PNG Biomass will also be consistent with the Oil Search’s policies, PNG statutory obligations, and commitments made as part of the environmental assessment process in accordance with the requirements of PNG’s Environment Act 2000.