Natural Justice, along with several other organizations, endorsed a July 1, 2013 letter to US Secretary of the Treasury Jacob Lew regarding the ongoing review and update of the World Bank safeguard policies. The letter asks Secretary Lew, who is responsible for the management of the United States’ interests in the World Bank, to support four threshold issues during an upcoming World Bank Board meeting on July 23, 2013 where the safeguards review will be addressed. These threshold issues include: The safeguard policies and procedures, to avoid weakening, must continue to be based on mandatory, detailed, enforceable, time-bound requirements; the Bank’s Board needs an informed basis for making decisions on the scope of application of the safeguard policies; the review must continue to focus attention on the emerging areas identified by the Bank; and the updated safeguards must be accompanied by a detailed implementation plan.
Track the ongoing efforts of this legal NGO as we seek to assist communities to engage with legal frameworks to secure environmental and social justice.
Showing posts with label Financial Sector. Show all posts
Showing posts with label Financial Sector. Show all posts
Tuesday, July 2, 2013
Saturday, February 9, 2013
CAO Audit of IFC Investments

The audit determines that while the IFC has followed its environmental and social policy and procedural requirements, the methodology does not determine whether environmental and social management systems in place by clients actually fulfil the ‘do no harm’ objective. Further, CAO questions whether IFC’s procedures support broader social and environmental outcomes “commensurate with IFC’s prominent leadership role as a promoter of environmental and social responsibility.”
The full audit can be accessed here.
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