Final Call for Feedback on the FAST-Infra Open Consultation
Have your say in the open public consultation on the FAST-Infra Initiative! The deadline is 31 August.
We have now entered the final days of an open public consultation on the FAST-Infra (Finance to Accelerate the Sustainable Transition-Infrastructure) Initiative. The consultation gathers insight into the application of the Sustainable Infrastructure Label (SI Label) and the Sustainable Infrastructure Framework (SI Framework) introduced by FAST-Infra.
CEEweb for Biodiversity and its partners from the SaveGREEN project encourage all interested parties to submit their responses to this consultation, which closes on August 31st 2021.
About the Consultation
FAST-Infra has been formulated by the Climate Policy Initiative (CPI), the Organisation for Economic Co-operation and Development (OECD), HSBC, the International Finance Corporation (IFC), and the Global Infrastructure Facility (GIF). The consultation into the SI Label/Framework is led by the SI Label Working Group (WG), co-chaired by the GIF and Macquarie.
The SI Label measures the positive sustainability performance of infrastructural projects. It aims to enable sponsors, developers, operators, and owners to demonstrate infrastructural assets’ sustainability, and attract investors who seek sustainable projects. As a result, the SI Label aims to transform sustainable infrastructure into a mainstream and liquid asset. Meanwhile, the SI Framework outlines requirements and guidance for market participants who seek to apply the SI Label to their infrastructural assets. For more information, please download the official consultation documents here.
After closely examining the Initiative, consultation, and accompanying questionnaire, CEEweb for Biodiversity, along with its partners of WFF-Ro/CEE and CDV Transport Research Central, are providing advice on appropriate responses to the consultation and questionnaire form, particularly in relation to biodiversity, Green Infrastructure, eco-corridors, eco-friendly solutions, and environmental mitigation measures. Our main responses and recommendations for specific questions can be found below.
Question 1: “Do you agree that there should be a labelling scheme to help identify “Sustainable Infrastructure?”
a) Strongly agree.
Question 2: “How likely are you to consider using the FAST-Infra SI Label?”
b) Somewhat likely to consider using the FAST-Infra SI Label.
Question 3: “Which of the following benefits do you believe the FAST-Infra SI Label could bring to your organisation? Please select all that apply.”
b) Complementing or informing your existing reporting on ESG, SDGs, QII and/or Paris Agreement alignment.
d) Ensuring that your responsible investments will maintain a positive sustainability performance.
Question 4: “What type of SI asset would most benefit from being awarded the FAST-Infra SI Label?”
c) Both of the above.
If you have any additional comments on the SI Framework, please communicate these below.
SI Labelling – Sustainability Dimensions and Criteria
Question 5: “Do the criteria adequately capture performance across each of the four FAST-Infra SI Label dimensions (environmental, adaptation & resilience, social, and governance)? Please select all that apply.”
b) Somewhat, though the FAST-Infra SI Label needs additional criteria within the environmental dimension.
e) Somewhat, though the FAST-Infra SI Label needs additional criteria within the governance dimension.
Question 8: “Is the indicative list of indicators sufficiently complete?”
b) No, more need to be added.
If you have any additional comments on the Sustainability Dimensions and Criteria, please communicate these below.
SI Label – Governance and Reporting
Question 11: “In an effort to minimize regulation and put more agency in the market to decide whether further verification is needed, the FAST-Infra SI Label allows for self-declaration but with independent external review highly encouraged, but not required. Do you agree with this approach?”
SI Label – FAQ Document
Question 13: In your view, are there any questions that should be added to the FAQ document?
Many thanks to Gabriella Nagy (CEEweb for Biodiversity), Andrea Danci (WWF-Ro), Hildegard Meyer (WWF-CEE), and Ivo Dostál (CDV Transport Research Central) for their insights into the consultation.