A spate of human rights violations and environmental abuses by mining ventures backed by the International Finance Corporation (IFC), the private sector arm of the World Bank, is raising alarm over the inadequacy of its social and environmental standards.
Extractives
Environment
News
The World Bank's conflicted role in energy
A spat between the US administration and some middle and low income shareholders highlights political tensions carried over from Copenhagen climate talks. And while the Bank showcases its 'clean' energy investments, projects in the pipeline for 2010 look set to continue large-scale investment in fossil fuels.
Environment
Analysis
The World Bank's new energy strategy
As the World Bank prepares to revise its energy strategy, Oliver Johnson of the Sussex Energy Group (Science and Technology Policy Research Unit, University of Sussex), reviews the Bank's chequered history in this sector. The conflicting agendas for energy are drawn out, and principles suggested to guide the Bank's support for low-carbon development.
Environment
News
Human rights landmark in ICSID tribunal
For the first time ever, a tribunal of the World Bank's International Centre for Settlement of Investment Disputes (ICSID) will hear human rights arguments.
Environment
News
Palm oil plantation perpetuates poverty
A study by NGO Rainforest Action Network of a World Bank-funded oil palm plantation in Papua New Guinea reports violations of Bank performance standards by thrice funding the palm oil plantations of agribusiness giant Cargill with no record of a consultation process.
Environment
News
IFC lends a hand in great "land grab"
As the International Finance Corporation, the private sector arm of the World Bank, announces plans to increase investment in agribusiness by up to 30 per cent in the next three years, NGO reports shed light on the IFC's role in 'land grabs' and flaws in its approach to the food crisis.
Environment
Background
Consultation meeting on World Bank environmental strategy
Summary of the first consultation on their new environment strategy, which they will develop next year.
Accountability
Background
Safeguard policies and performance standards
Originally drafted as internal operational policies to guide staff, World Bank safeguard policies evolved after pressure from environmental and social groups in the 1980s and were first officially implemented in 1998. They aim to protect people and the environment from the adverse effects of Bank-financed operations and are based on international agreements, even if these protections are not explicitly provided for in the borrower country's national law.
Environment
News
Contract transparency missing as IFC expands oil investments in Africa
As the World Bank's private lending arm, the International Finance Corporation (IFC), expands its role in the African oil and gas sector, civil society groups are insisting that it adopt a requirement for full contract transparency in all of the extractive industries projects that it finances.
Accountability
News
Breaking the chains?
Violations of the IFC's performance standards in a palm oil project in Indonesia could have far reaching effects, drawing attention to the IFC's responsibility for the impact of whole supply chains as a review of their social and environmental standards gets under way.
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The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.