Banks Lack Robust Framework for Minimizing Social Risks

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 more