As part of the programme for reducing emissions from deforestation and forest degradation (REDD, see Update 57), Guyana, Panama and Indonesia submitted readiness preparation proposals (R-PPs), necessary for funding through the Forest Carbon Partnership Facility. The Bank’s technical advisory panel and NGOs have raised concerns about the R-PPs, especially regarding indigenous rights and the identification of the key drivers of deforestation. Despite the criticism, the Participants Committee – comprised of REDD countries, donors and carbon fund participants – argued that the R-PPs provided a “sufficient basis” to advance the countries to the next step “subject to the Bank’s due diligence, safeguards and environmental assessments”.
EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.
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