[m]any governments around the world have put in place systems to help ensure that investments in changes such as infrastructure projects, government programs or new national laws do not bring undue harm to their citizens or environment. The effectiveness of these systems in successfully preventing negative impacts varies widely. Developing countries tend to have a particularly difficult time ensuring that investments within their borders meet minimum social and environmental standards. As a result, many financial institutions have established their own policies to help ensure that their investments do not result in harm to vulnerable communities or ecosystems. These policies are generally known as “safeguards.” Although safeguard policies provide vital protection against risks to people and the environment, properly designing and implementing these policies means navigating complex relationships between financial institutions, governments, and the citizens of recipient countries.
Friday, April 12, 2013
WRI Working Paper Released: Striking the Balance: Ownership and Accountability in Social and Environmental Safeguards
Recently, the World Resources Institute, a global environmental think tank whose mission is “to move human society to live in ways that protect Earth’s environment and its capacity to provide for the needs and aspirations of current and future generations,” released a report authored by Gaia Larsen and Athena Ballesteros titled, Striking the Balance: Ownership and Accountability in Social and Environmental Safeguards (2013). The 28-page report available here discusses the following: