The presentation included Questions & Answers (Q&A) throughout the session where members were able to obtain clarifications from Mr. Di Leva on how the new ESF can impact/benefit their own environmental and social work. The proposed Project also has the potential to demonstrate the financial viability of climate finance projects, encouraging the participation of domestic commercial banks in climate mitigation (and adaptation) projects. Miga environmental and social policies of usa. A period of 24 months has been proposed to provide adequate time to undertake an interactive review process, develop a draft umbrella safeguard policy, prepare translations, and conduct consultations within and outside the WBG.
Pablo Cardinale, Principal Environmental Specialist at the International Finance Corporation (IFC) presented on IFC's approach to management of cumulative impacts potentially resulting from multiple cascading hydropower in critical aquatic habitat due to the presence of the CE Kashmir Catfish and the EN Golden Mahaseer, and how a project's Biodiversity Action Plan (BAP) has been elevated to guide a Biodiversity Strategy to manage potential cumulative impacts at a landscape level. A proposed investment is classified as: Category A if it may have potentially significant adverse social or environmental impacts that are diverse, irreversible, or unprecedented. With this background, brief presentations of recent experience and post-Paris strategies of their respective agencies were provided by: Hilary Hoagland-Grey, IDB. It will work alongside its World Bank Group partners, other bilateral and multilateral institutions, and private reinsurers to maximize the leverage of its product and underpin investments so critically important for development. In addition to reviewing recent experience from on-going assessments of wind power projects in Central and South America, this two-hour session focused on lessons learned and advances in good industry practice, including key changes in the recently updated IFC's Wind Energy EHS Guidelines, and the biological basis for bird and bat monitoring protocols. This was followed by a brief commentary by the Head of the IRM, Dr Lalanath de Silva, on the similarities and differences between the two institutions, and what we as the GCF and IRM may learn from these findings. Providing Accountability for Environmental and Social Performance. It supports private sector investments in developing countries against political risk, provides technical assistance and advisory services to developing countries, and provides information to promote foreign direct investment in developing countries. Ongoing Developments in Satellite Remote Sensing for Environmental and Social Impact Assessment: focussed on new technology solutions and how they can contribute to impact assessment and monitoring. Social Safeguards, Safeguards Review, IFC, MIGA, and Safeguards. After introducing David Bancroft, IAIA's recently appointed Executive Director, three speakers shared their experience and knowledge on cultural heritage, a topic which hasn't been covered in a recent WAB session: Arlene Fleming, MA, MPS: Arlene is an archaeologist and specialist in cultural heritage documentation, conservation and management.
MIGSC collaborates with the other units in MIGA to ensure the implementation of the Agency's policies and procedures. Charles E. Di Leva, World Bank. CAO is monitoring IFC responses to 12 completed investigations, including 6 released this year, which are described below. Category C if the project has minimal or no adverse social or environmental impacts, including certain financial intermediary projects with minimal or no adverse risks. For example, in the case of Africa's infrastructure development, ODA has declined, while private investment has surged to over 50 per cent of external financing. Miga environmental and social policies of america. If you would like to participate, but cannot attend, please let us know so that we can provide WebEx connection details. United Kingdom and Territories||15%||15. The Evaluations Department has only three staff members: the director, a full-time staff person, and a full-time consultant. WBG has set two ambitious goals to push extreme poverty to no more 3 percent by 2030, and to promote shared prosperity and greater equity in the developing world. Reference material: IFC Good Practice Handbook – Cumulative Impact Assessment and Management: Guidance for the Private Sector in Emerging Markets: The Environmental and Social Framework of the Asian Infrastructure Investment Bank. Timeline: 24 months. CAO's investigation found that IFC did not adequately consider challenges the Fund would face in implementing IFC's Free, Prior, and Informed Consent (FPIC) standard to a project in Indigenous territory. Sector: Environment.
We also adhere to the World Bank Group's Environmental, Health, and Safety Guidelines available on IFC's website. Please RSVP by return email to Debra () and Ariel() if you plan to attend to enable us to prepare appropriately. Environmental and Social Sustainability Policy. MIGA also has a set of Performance Standards and a Policy on Environmental and Social Sustainability tailored to its specialized type of private sector investment. World Bank Group, Climate Change Knowledge Portal. MIGA's Policy on Environmental and Social Sustainability. The resettlement program under the LWSSD project has been considered a widely successful program and was well-received during a presentation to the International IAIA meeting in Durban, South Africa, in 2018.
Progress continues to be made on the pilot program for the use of country systems, with additional projects at the national and subnational level adopting this approach. By doing so, the company could avoid complying with World Bank environmental standards and evade the MIGA investigation. Miga environmental and social policies of ireland. Cambridge, MA: Harvard Kennedy School. MIGA's Current Leadership Team. The fund managers may use this contract to raise funds from institutional investors that are interested in taking commercial risks (and returns) associated with the investments but are concerned about political risks. An investor that has a MIGA guarantee can claim a payment to MIGA for the loss covered by the guarantee. The majority of currently mapped KBAs are Important Bird Areas (IBAs), Ramsar sites, or Alliance for Zero Extinction (AZE) sites, which do not capture many other types of KBAs and do not include threatened ecosystems.
Although advance registration is not required for visitor's entry to MIGA's office (please bring valid government issued ID! Under its non-honouring of financial obligations (NHFO) product line, MIGA can also cover commercial bank financing and capital markets transactions for public sector projects. Zambrana-Torrelio holds a PhD from Sapienza Università di Roma on Environmental and Evolutionary Biology, as well as degrees in Biology and Ecology from Universidad Mayor de San Andres in Bolivia and the University of Puerto Rico. This meeting was a joint effort of WAB and the Climate Change Section, which, with 160 members, is IAIA's on-going forum for IA practitioners to exchange expertise and knowledge on climate change across all areas of IA. Loading Conversation.
Here at the IRM we hope that these findings will have positive consequences across IAMs and IFIs, including within our own institution. Input has been shared through meetings, expert focus groups, online submissions, and face to face meetings in 30 countries. In the framework of the safeguards update and review process, this note is under a revision process being coordinated by QACU and LEGEN, in order to provide improved guidance on classification of projects in Category B and Category C. For purposes of internal coordination, the Bank will provide the draft revised guidance note to IFC and MIGA for their review and then have discussions as appropriate. Challenges in Resettlement: Case Studies. These two policies can be used as entry points for addressing the social issues involved in investment lending operations and to mitigate and compensate adverse impacts on indigenous peoples and persons displaced by development projects. In accordance with our policies, we categorize projects based on an assessment of their likely environmental and social impacts. CCIA is integral to the thinking of each of these agencies, and several – IDB, World Bank, and IFC – are in the process of up-dating their environmental and/or climate change guidance.
Both institutions adhere to the World Bank Group's Environmental, Health, and Safety Guidelines. Originally adopted in 2006, IFC's Sustainability Framework was updated in 2012 following an 18-month consultation process with stakeholders around the world. Need for enhanced consideration of climate change in EIA; 2. The mainstreaming of country system as an element of the updating process is a welcome prospect that would allow use of the approach at national/sub-national and or sectoral level. Also new training has been initiated in the matter of addressing health; safety and security under the current EA framework, and guidance material have been updated.
Countries receiving private investments also face risks, including a lack of symmetry in negotiating power, signing contracts with reputational risks if they need to be renegotiated later, social dislocation in project areas, environmental degradation, increased corruption, undermining of democratic politics, and loss of economic value through transfer pricing and tax avoidance. The Multilateral Investment Guarantee Agency (MIGA or the Agency) is a member of the World Bank Group, and our mission is to promote foreign direct investment into developing countries to help end extreme poverty and boost share prosperity. His work at ERM focuses on environmental and social impact assessments, environmental and social due diligence, and monitoring compliance with environmental, social, and cultural heritage lender requirements. Check out the latest happenings from the WAB below: Biodiversity Monitoring: Challenges and Opportunities in Infrastructure Development Projects. MIGA's overarching ambition is to continually adapt to the ever-growing need for investments into developing markets, cater to the needs of new investor types, and complement and enhance the products being offered by existing PRI providers. More broadly, following the conclusion of the External Review, CAO has engaged with IFC to reflect on its experience with remedy with a view to contributing insights to the institutions' deliberations and identifying ways in which CAO can strengthen its own role in remedy. We now need to identify potential speakers for these topics – are you interested?? MCC works pro-actively with other federal agencies in screening activities for climate risks, while relying on its environmental and social assessment procedures and building climate change adaptation and mitigation into programs where possible. These communities of practice are also contributing to the ongoing process for the review and update of the safeguard policies with an emphasis on lessons learned from project preparation and implementation. Environmental Impact Assessment (EIA) documents and other project information can also be difficult to access, especially for locally affected communities.
You can submit a request for information disclosure at: You can also request general information about MIGA and for information on guarantees by emailing: ACCOUNTABILITY MECHANISM OF IFC/MIGA. During the underwriting process, we identify the policies and guidelines that are applicable to a project.
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