The EDILE project launches label for responsible investment in the Mediterranean

On average, it is estimated that €1 million of foreign investments in south Mediterranean countries yields only one job. Better evaluation of the local situation can dramatically improve the impact of both public and private investments. But in most cases, public authorities have no procedures for evaluation of investments being made in the Mediterranean.

In order to encourage inclusive investments, the partners of the EDILE project have designed a Mediterranean label to evaluate the actual impact of foreign investments on local economies.

Quantifying local spillovers

The EDILE label, inspired by ISO 26000 on Corporate Social Responsibility, allows to detect and enhance positive investments in four key areas: economic (contribution to local economy), social (respect and promotion of employees), environmental (respect for natural resources) and community (local value creation).

The toolkit developed by the EDILE project is currently being tested on real operations with a view to assess the local benefits of foreign investments in Lebanon, Palestine and Tunisia. Different sectors are being considered, including agrifood, waste management, energy efficiency, industry and ecotourism.

The investment projects with the most positive impact on local economies will be awarded the EDILE label during a ceremony to take place on 4th of November in Marseilles on occasion of the Mediterranean Economic Week.

With the EDILE label, project partners hope to help businesses make profit while creating social, environmental and economic wealth on the long run for local communities.

EDILE in brief

EDILE (Economic Development through Inclusive and Local Empowerment) aims at enhancing the inclusive development of local economies thanks to the optimisation of investment projects. The project provides economic bodies in charge of regulating or implementing investment projects with evaluation tools and guidance which will help them to maximise local economic spillovers such as job creation, subcontracting and environment conservation. Forty actions are planned in Lebanon, Palestine and Tunisia under the project.

EDILE: website and fact sheet