NEWS
04.08.10
ICMM submits comments on revised IFC Performance Standards
ICMM has formally submitted comments on the revised IFC Performance Standards and related policies that were published for public comment in May 2010.
The Performance Standards outline the IFC’s guidelines on corporate responsibility and form the requirements for receiving and retaining IFC support. They cover issues such as labour standards, indigenous peoples, biodiversity and pollution -- and include two related policies on disclosure and social and environmental sustainability.
Overall, ICMM welcomes the proposed changes and considers that both policies and Performance Standards are generally positive and have been strengthened by the suggested revisions.
The submission contains two overarching suggestions aimed at reinforcing the policies and Performance Standards in two key respects that we consider to be important in enhancing sustainable development outcomes. These are:
1. balancing the do-no-harm focus of the Performance Standards with a stronger focus on the broader contribution of private sector investment to social and economic development; and
2. finding opportunities in the policies and Performance Standards to emphasise the importance of fostering collaborative engagement between governments, development agencies and civil society.
ICMM has also provided detailed comments on each individual policy and Performance Standard that identifies areas where we consider the proposed changes:
1. improve the original language;
2. introduce some unintentional ambiguity and require some further clarification; or
3. may be perceived as weakening the commitments.
The rationale for our comments is explained.
For more information about the Performance Standards visit the IFC’s website.
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