If an EIA was conducted during the Formulation phase, the related Environmental Management Plan must be implemented. The monitoring system must be tailored to cover all important environment-related aspects of the project, building on the conclusions and recommendations of studies undertaken during the Identification and Formulation phases. Periodic progress reports, as well as the mid-term evaluation report, should include a description of activities undertaken in relation to the mitigation of identified environmental risks (both “impacts emitted” and “impacts received”), as well as an update of environmental indicators.