BIC supports efforts to promote responsible IFC policies that advance social and environmental justice and enable citizen participation in development processes.
The IFC updated its Sustainability Framework, including the Performance Standards in May 2011. This represents the first revision of the Performance Standards since they were first implemented. With the acknowledgement of the right of free, prior, and informed consent for indigenous peoples, as well as exposing extractives contracts to public scrutiny, the new Framework has begun to bring the IFC into line with 21st century best practices.
Additionally, The IFC's new Access to Information is a major improvement over its previous policy, which privileged corporate secrecy over the public good. The new policy is modeled on the main World Bank policy, which BIC has been involved with from the beginning.
Though many gaps still remain, the new policies will provide an opening for much greater change.