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Policies taken into account included the World Commission on Dams’ Criteria and Guidelines, World Bank Safeguard Policies, IFC Performance Standards, and the Equator Principles. A draft of the Protocol was released in 2009, which was trialled in 16 countries across six continents and subjected to further consultation involving 1,933 ...
The standards have subsequently been periodically updated into what is commonly known as the International Finance Corporation Performance Standards on social and environmental sustainability and on the World Bank Group Environmental, Health, and Safety Guidelines. [2]
The European Union Directive on Environmental Impact Assessments (85/337/EEC,also known as the EIA Directive) only applied to certain projects. [3] This was seen as deficient as it only dealt with specific effects at the local level whereas many environmentally damaging decisions had already been made at a more strategic level (for example the fact that new infrastructure may generate an ...
To enforce this policy and make necessary arrangements, a series of guidelines were developed, thereby incorporating the elements of environmental factors right from the project formulation stage of the development plans and projects and to avoid or minimize adverse effects on the ecological system.
Sustainability standards can be categorized as either voluntary consensus standards or private standards. International Organization for Standardization (ISO) is an example of an standards organization who develop international standards following a voluntary consensus process for sustainability under Technical Committee 207, Environmental management and Technical Committee 268, Sustainable ...
In the 1980s, the bank was the major financier of dams in developing countries and particularly significant in Tanzania, which was enduring an economic crisis at the time. [12] The World Bank questioned the need for a dam at Stiegler's Gorge, given their calculation of limited growth in Tanzania's electricity demand.
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...
Social impact assessment (SIA) is a methodology to review the social effects of infrastructure projects and other development interventions. Although SIA is usually applied to planned interventions, the same techniques can be used to evaluate the social impact of unplanned events, for example, disasters, demographic change, and epidemics.