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Banks Lack Robust Framework for Minimizing Social RisksEquator Principles fail to adequately address human rights Washington, Aug 07 2008 - A new study finds that international project financiers, including the leading international banks and the International Finance Corporation, do not have a robust framework for minimizing the social risks posed by their projects. The study—The International Finance Corporation’s Performance Standards and the Equator Principles: Respecting Human Rights and Remedying Violations?—notes that recently-adopted standards are not likely to reduce potential human rights-related conflicts that may arise in projects. The Center for International Environmental Law (CIEL) and the Bank Information Center (BIC), with support from World Resources Institute, Oxfam Australia and BankTrack, used the Danish Institute for Human Rights’ Human Rights Compliance Assessment tool to analyze the extent to which the International Finance Corporation’s... read moreUnconventional oil could cost us the earthNew report shows that oil sands threaten climate changeLondon, Jul 31 2008 - With oil prices soaring, investing in unconventional fuel sources – such as oil sands or oil shale – could appear to be an attractive option, but according to a new report released on Tuesday by WWF and the Co-operative Financial Services (CFS), such investments are both environmentally and economically... read more | Eight Chinese NGOs Announce Green Banking Innovation AwardShanghai, China, Jul 26 2008 - On behalf of eight Chinese environmental NGOs, Mr. Yu Xiaogang, Director of Green Watershed, announced the Green Banking Innovation Award in on July 26th. China Industrial Bank Co. Ltd. received this award at the Best China Banks Ceremony organized by the Economic Observer weekly in Shanghai. The Green Banking Innovation Award is the first-ever award in specifically about green banking and sustainable finance, which will promote banks and... read more | |
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