http://www.bicusa.org/en/Issue.38.aspx The latest news on Environmental & Social Policies at the IFC from the Bank Information Center 10 http://www.infodev.org/images/infodev.gif http://www.bicusa.org/en/Issue.38.aspx BIC publishes an article in The Huffington Post highlighting economist Jeffrey Sachs' arguments for transparency in the extractive industries. http://www.bicusa.org/en/Article.12179.aspx Thu, 14 Oct 2010 17:23:28 GMT http://www.bicusa.org/en/Article.12179.aspx The organizations found the June 25th consultation invalid due to the limited number of civil society representatives and overrepresentation of industry. They used the letter to put forward their recommendations for the review of IFC's policies on social and environmental sustainability http://www.bicusa.org/en/Article.12060.aspx Wed, 28 Jul 2010 10:22:26 GMT http://www.bicusa.org/en/Article.12060.aspx Organizations from different Asian countries demanded that multilateral agencies place additional and stronger safety provisions in their investment standards to ensure that poor communities do not become more vulnerable due to 'aggressive' development projects. http://www.bicusa.org/en/Article.11991.aspx Wed, 14 Jul 2010 09:11:41 GMT http://www.bicusa.org/en/Article.11991.aspx IFC clients need to adhere to the IFC's Performance Standards and the IFC ought to improve due diligence to ensure positive development outcomes and compliance with Standards. http://www.bicusa.org/en/Article.11948.aspx Thu, 01 Jul 2010 13:53:06 GMT http://www.bicusa.org/en/Article.11948.aspx A new article published in the Bretton Woods Update from the staff of the World Resources Institute examines the World Bank's relationship with human rights. The Bank has several policies in place that approximate human rights law, but do not explicitly tie the Bank to it. http://www.bicusa.org/en/Article.11920.aspx Mon, 21 Jun 2010 09:49:17 GMT http://www.bicusa.org/en/Article.11920.aspx The IFC and MIGA's independent resource mechanism, the Compliance Advisor/Ombudsman, has released its review of how the Sustainability Framework and accompanying policies have affected outcomes on the ground. http://www.bicusa.org/en/Article.11880.aspx Mon, 17 May 2010 09:44:51 GMT http://www.bicusa.org/en/Article.11880.aspx The proposed capital increases for the World Bank and IFC would expand their size without expanding the scope of their reform. http://www.bicusa.org/en/Article.11785.aspx Tue, 30 Mar 2010 00:00:00 GMT http://www.bicusa.org/en/Article.11785.aspx This Thursday, Mark Constantine of the IFC will speak at the Greenpeace offices in Washington, DC about the IFC's new approach to the forestry sector. The meeting is open to the public, so feel free to join us. http://www.bicusa.org/en/Article.11779.aspx Mon, 22 Feb 2010 13:41:17 GMT http://www.bicusa.org/en/Article.11779.aspx Phil Radford, executive director of Greenpeace USA, writes a rebuttal to the World Bank on their energy lending and argues that they are still quite far from being a "climate-friendly" bank. http://www.bicusa.org/en/Article.11699.aspx Tue, 22 Dec 2009 17:26:59 GMT http://www.bicusa.org/en/Article.11699.aspx Nine years after the Chad-Cameroon oil pipeline was begun, and one year after IBRD and IDA pulled out, attention has faded fast. The disasterous effects of the project, however, are just beginning. http://www.bicusa.org/en/Article.11677.aspx Fri, 04 Dec 2009 10:31:57 GMT http://www.bicusa.org/en/Article.11677.aspx Heike Mainhardt-Gibbs published today numbers examining World Bank Group energy investments over the last three years. The factsheet contrasts data on Bank lending for fossil fuels, large hydropower, renewable energy, and energy efficiency. http://www.bicusa.org/en/Article.11675.aspx Thu, 03 Dec 2009 12:36:29 GMT http://www.bicusa.org/en/Article.11675.aspx The major IFIs have appealed to the governments meeting at Copenhagen to come to a comprehensive agreement on climate change mitigation, pledging to use their own resources to contribute. Some are critical, however, of how ready these institutions are to tackle the issues involved. http://www.bicusa.org/en/Article.11671.aspx Wed, 02 Dec 2009 16:14:01 GMT http://www.bicusa.org/en/Article.11671.aspx E&E News reports on the IFC's review of palm oil investments. Marcus Colchester of the Forest Peoples Programme is quoted as saying that the review will be extended to soy and cocoa. http://www.bicusa.org/en/Article.11648.aspx Fri, 20 Nov 2009 15:42:55 GMT http://www.bicusa.org/en/Article.11648.aspx The World Bank is moving to become one of the major institutions taking on climate change through its Climate Investment Funds, among other policies. However, Heinrich Boell Foundation president Barbara Unmuessig believes that without reforms, the Bank will not be able to effectively or fairly alter the course on global warming. http://www.bicusa.org/en/Article.11614.aspx Fri, 06 Nov 2009 11:48:10 GMT http://www.bicusa.org/en/Article.11614.aspx In 2009, Development Policy Operations increased dramatically as a percentage of overall World Bank lending, from an average of about 33% to over 50%. Dogged by concerns that stem from a lack of a strong set of safeguard policies or clear results, this shift to greater dependence on DPLs/DPOs raises concerns about arbitrage by Bank clients to soften or avoid transparency and accountability commitments. http://www.bicusa.org/en/Article.11612.aspx Thu, 05 Nov 2009 11:24:27 GMT http://www.bicusa.org/en/Article.11612.aspx The World Bank is quietly preparing the first capital increase in nearly 20 years to replenish the coffers after unprecedented lending in 2008 and the coming two years. http://www.bicusa.org/en/Article.11608.aspx Thu, 05 Nov 2009 08:13:29 GMT http://www.bicusa.org/en/Article.11608.aspx BIC's Africa Program Manager, Josh Klemm, is quoted in a This is Africa article about the problematic $860 million Bujagali Hydropower plant project in Uganda, financed, in part, by the IFC. http://www.bicusa.org/en/Article.11595.aspx Fri, 30 Oct 2009 16:13:53 GMT http://www.bicusa.org/en/Article.11595.aspx The Annual Meetings of the World Bank/IMF in Istanbul were the site of the first in-person consultation for the IFC Social and Environmental Policy Review. This BIC article published by the Huffington Post discusses several key issues raised during the consultation. In addition to the in-person consultations, the IFC is hosting online discussions, including one on Wednesday, November 4. http://www.bicusa.org/en/Article.11593.aspx Thu, 29 Oct 2009 11:48:52 GMT http://www.bicusa.org/en/Article.11593.aspx On October 12, the Agency for Promotion of Private Investment (ProInversión) approved contract bidding for purchase of energy from hydroelectric centers, which are expected to begin supply between 2013 and 2015, stated Executive Director Cayetana Aljovín. http://www.bicusa.org/en/Article.11581.aspx Sun, 25 Oct 2009 10:50:59 GMT http://www.bicusa.org/en/Article.11581.aspx Investors promise to address the growing demand for gas in Peru. http://www.bicusa.org/en/Article.11580.aspx Sun, 25 Oct 2009 10:28:45 GMT http://www.bicusa.org/en/Article.11580.aspx BNDES has invested close to $R 5 bilion in the last two years as shareholders in the largest beef shippers, including JBS Friboi and Bertin. In Bertin alone, BNDES has purchased 27% equity position. http://www.bicusa.org/en/Article.11565.aspx Sat, 24 Oct 2009 07:55:18 GMT http://www.bicusa.org/en/Article.11565.aspx A report recently released by Greenpeace illustrates clearly why REDD offset projects will neither address climate change nor stop deforestation. The report questions the claims made by the project developers about leakage, additionality, permanence and the ability of the project developers to measure accurately the amount of carbon stored in the forest. http://www.bicusa.org/en/Article.11559.aspx Thu, 22 Oct 2009 11:05:34 GMT http://www.bicusa.org/en/Article.11559.aspx http://www.bicusa.org/en/Article.11533.aspx Thu, 08 Oct 2009 13:49:59 GMT http://www.bicusa.org/en/Article.11533.aspx Civil society has voiced concerns regarding the Bank’s social and environmental sustainability policies. http://www.bicusa.org/en/Article.11520.aspx Tue, 06 Oct 2009 10:07:38 GMT http://www.bicusa.org/en/Article.11520.aspx The World Bank/IMF Annual General Meetings in Istanbul October 2-7th provide a window of opportunity for civil society to impact ongoing policy reviews. http://www.bicusa.org/en/Article.11502.aspx Tue, 29 Sep 2009 10:41:00 GMT http://www.bicusa.org/en/Article.11502.aspx In response to pressure from civil society and a CAO report detailing violations of the IFC's social and environmental standards in Indonesia, IFC agreed to suspend all palm oil financing until the gaps in procedures that allowed these violations to happen are closed. Over the next six months, IFC will study how failures have happened in the palm oil sector and how they can be overcome in the future. http://www.bicusa.org/en/Article.11456.aspx Wed, 09 Sep 2009 16:04:40 GMT http://www.bicusa.org/en/Article.11456.aspx In the midst of a possible energy crisis en Peru over the coming years, increasing criticism of exports of as much as half of the Camisea gas reserves requires greater attention http://www.bicusa.org/en/Article.11395.aspx Thu, 13 Aug 2009 21:30:37 GMT http://www.bicusa.org/en/Article.11395.aspx The World Bank’s private sector arm – the International Finance Corporation (IFC) – has allowed commercial interests to override its social and environmental standards in making major loans to the oil palm sector in Indonesia, an internal audit reveals. http://www.bicusa.org/en/Article.11402.aspx Mon, 10 Aug 2009 00:00:00 GMT http://www.bicusa.org/en/Article.11402.aspx http://www.bicusa.org/en/Article.11385.aspx Sun, 09 Aug 2009 10:57:21 GMT http://www.bicusa.org/en/Article.11385.aspx A little known fact is that the majority owners of Lot 88 and Lot 56, which produce gas from Camisea, as well as the hydrocarbon liquids, are the same majority owners of the Peru LNG consortium, which is the entity that buys the Camisea gas and exports it. http://www.bicusa.org/en/Article.11330.aspx Thu, 16 Jul 2009 18:38:52 GMT http://www.bicusa.org/en/Article.11330.aspx QUILLABAMBA, Peru | A national strike by thousands of rain-forest Indians is spawning accusations of a proxy war involving Venezuela and an emboldened peasant movement seeking to undermine Peru's pro-U.S. president. http://www.bicusa.org/en/Article.11302.aspx Mon, 06 Jul 2009 12:24:46 GMT http://www.bicusa.org/en/Article.11302.aspx Just two weeks after the publication of Greenpeace's report "Slaughtering the Amazon" the IFC halts a $30 million payment to the Bertin corporation which was using the IFC loan to expand further into the Amazon. http://www.bicusa.org/en/Article.11258.aspx Tue, 16 Jun 2009 15:10:29 GMT http://www.bicusa.org/en/Article.11258.aspx Civil society requests for a delay go unanswered as the project is approved in the absence of an environmental impact assessment and amid significant transparency and governance issues. http://www.bicusa.org/en/Article.11047.aspx Fri, 20 Feb 2009 16:23:40 GMT http://www.bicusa.org/en/Article.11047.aspx BIC assessment finds that even with important gains in renewable energy and energy efficiency in recent years, the World Bank Group’s overall lending approach to the energy sector does not support developing countries’ transition towards a low-carbon development path. http://www.bicusa.org/en/Article.11033.aspx Tue, 10 Feb 2009 00:00:00 GMT http://www.bicusa.org/en/Article.11033.aspx African Development Bank also contributing record loans to address power shortage. http://www.bicusa.org/en/Article.10992.aspx Fri, 19 Dec 2008 12:20:39 GMT http://www.bicusa.org/en/Article.10992.aspx Six months after CAO found the IFC out of compliance with its own environmental and social norms in Karachaganak, no relief for local residents. No serious effort was made by either the KPO- a consortium of oil companies or IFC to mend the situation. http://www.bicusa.org/en/Article.10959.aspx Fri, 21 Nov 2008 14:04:03 GMT http://www.bicusa.org/en/Article.10959.aspx Six months after the Office of Compliance, Advisor/Ombudsman (CAO) of the International Finance Corporation (IFC) found the IFC out of compliance with its own regulations for toxic emissions at the Karachaganak Oil and Gas Condensate Field in western Kazakhstan, the case remains open with the CAO because the IFC has failed to bring into compliance significant failures in the IFC’s environmental monitoring of activities at the Karachaganak field. http://www.bicusa.org/en/Article.3926.aspx Mon, 27 Oct 2008 13:28:23 GMT http://www.bicusa.org/en/Article.3926.aspx The International Finance Corporation's (IFC) website on extractive industries government payment disclosure has made progress, but certain gaps in data availability remain. http://www.bicusa.org/en/Article.3924.aspx Mon, 27 Oct 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3924.aspx The World Bank Group (WBG) loans to countries in Europe and Central Asia (ECA) increased by 30% between FY07 and FY08. http://www.bicusa.org/en/Article.3904.aspx Wed, 24 Sep 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3904.aspx The European Bank for Reconstruction and Development (EBRD) has approved a US$50 million loan for expansion of oil and gas extraction operations in the Timan-Pechora basin of the northern Komi Republic in Russia. Various civil society groups have raised concerns of the major project's implications for the environment and the indigenous Komi-Izhemts people's rights. http://www.bicusa.org/en/Article.3902.aspx Fri, 19 Sep 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3902.aspx Following the August 25 reopening of the Baku-Tbilisi-Ceyhan Pipeline after the armed conflict in Georgia, the BTC has faced several technical and strategic issues when it comes to its future and viability. http://www.bicusa.org/en/Article.3900.aspx Thu, 18 Sep 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3900.aspx International Financial Institution (IFI) lending through financial intermediaries (FIs) has become particularly significant in the Europe and Central Asia (ECA) region, but the IFIs lack adequate policies to ensure social and environmental best practices are applied to subsequent FI lending. http://www.bicusa.org/en/Article.3884.aspx Fri, 22 Aug 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3884.aspx A new study finds that international project financiers, including the leading international banks and the International Finance Corporation (IFC), do not have a robust framework for minimizing the social risks posed by their projects. http://www.bicusa.org/en/Article.3876.aspx Thu, 14 Aug 2008 15:13:53 GMT http://www.bicusa.org/en/Article.3876.aspx The International Finance Corporation (IFC) fails to provide adequate links to government payment disclosures by its extractive industry clients. http://www.bicusa.org/en/Article.3874.aspx Thu, 14 Aug 2008 00:00:00 GMT http://www.bicusa.org/en/Article.3874.aspx As Newmont, the world's largest mining company prepares for gold mining operations in Ghana, civil society groups challenge the purported benefits for local communities. Meanwhile, the International Finance Corporation (IFC) has come under fire for the environmental and social legacies of its gold mining investments in Ghana and its plans proceed to begin the next phase of Newmont's controversial Ahafo gold project. http://www.bicusa.org/en/Article.3821.aspx Sat, 21 Jun 2008 14:45:24 GMT http://www.bicusa.org/en/Article.3821.aspx In a recently released audit report, the International Finance Corporation’s (IFC) Office of Compliance, Advisor/Ombudsman (CAO) has found that the IFC is out of compliance with safety standards for toxic emissions at the giant Karachaganak Oil and Gas Condensate Field in western Kazakhstan. http://www.bicusa.org/en/Article.3745.aspx Wed, 30 Apr 2008 10:43:06 GMT http://www.bicusa.org/en/Article.3745.aspx Last week, the Financial Times published an article on the World Bank's errors in its forest operations in the Democratic Republic of Congo (DRC) and allegations of support for illegal logging in the country by the International Finance Corporation (IFC). Just two days later, the IFC announced it would sell its stake in Olam International Ltd., the Singaporean commodity trading company accused of "environmental malpractice" in the world's second largest rainforest. As those gathered in Bali for the United Nations conference on climate change discuss the importance of forests to the future health of the planet, the Bank's missteps in Congo deserve a closer look. http://www.bicusa.org/en/Article.3619.aspx Tue, 11 Dec 2007 00:00:00 GMT http://www.bicusa.org/en/Article.3619.aspx Proposed copper-cobalt and gold projects re-enforce civil society's misgivings about the International Finance Corporation's commitment to environmental and social sustainability. http://www.bicusa.org/en/Article.3507.aspx Mon, 24 Sep 2007 00:00:00 GMT http://www.bicusa.org/en/Article.3507.aspx On September 13th, after over 20 years of negotiations, the United Nations General Assembly finally adopted the Declaration on the Rights of Indigenous Peoples. The international declaration sets a higher standard for international financial institutions (IFIs) to ensure safeguards and strengthen their policies on indigenous peoples. http://www.bicusa.org/en/Article.3495.aspx Thu, 20 Sep 2007 16:34:28 GMT http://www.bicusa.org/en/Article.3495.aspx Major weaknesses found in IFC’s environmental, health standards http://www.bicusa.org/en/Article.3477.aspx Thu, 06 Sep 2007 10:12:58 GMT http://www.bicusa.org/en/Article.3477.aspx A recent article by the World Bank applauds governments in MENA for increasing investment in environmental protection. While the World Bank is encouraging MENA countries to decrease their carbon emissions, it continues to finance extractive industry projects in the region. This apparent contradiction is just one of several reasons to take a closer look at the Bank's recent coverage of the 'greening' of MENA. http://www.bicusa.org/en/Article.3470.aspx Thu, 23 Aug 2007 14:19:20 GMT http://www.bicusa.org/en/Article.3470.aspx The Independent Evaluation Group (IEG) of the International Finance Corporation (IFC), found that 41% of the IFC projects studied had low development ratings. IFC performed particularly poorly in Africa and Asia, where only half of its projects had positive development outcomes. In Africa, the quality of IFC work was particularly poor, rated as “high” in only 45% of projects, as compared to 68% in other regions. http://www.bicusa.org/en/Article.3466.aspx Wed, 22 Aug 2007 15:21:41 GMT http://www.bicusa.org/en/Article.3466.aspx The World Bank Group's pledge to reduce greenhouse gases rings hollow as the organization increases assistance for the development of fossil fuels. http://www.bicusa.org/en/Article.3272.aspx Wed, 18 Apr 2007 16:44:10 GMT http://www.bicusa.org/en/Article.3272.aspx The World Bank's Multilateral Investment Guarantee Agency (MIGA) has posted draft policies for public comment until April 27, 2007. http://www.bicusa.org/en/Article.3175.aspx Fri, 23 Feb 2007 13:30:25 GMT http://www.bicusa.org/en/Article.3175.aspx