Supplementary Memorandum submitted by
The Corner House
Q28: "[The World Bank] does not have
any climate policies and it does not have any human rights policies
and it does not have any labour policies."
This is true for the World Bank's International
Bank for Reconstruction and Development (IBRD)the institution
most commonly referred to as "The World Bank"but
it is inaccurate for the World Bank Group as a whole, which includes
the International Finance Corporation (IFC). The IFC recently
introduced a Performance Standard on Labour and Working Conditions
(Standard 2). Its Performance Standard on Pollution Prevention
and Abatement also includes a clause requiring direct greenhouse
gases from a project to be quantified and, where technically and
financially feasible, reduced or offset. In making the remark,
I had in mind the IBRD's safeguard standards, which constitute
a commonly-used benchmark standard for ECGD and other ECAs. I
would also point out that, despite their recent revision, the
IFC Performance Standards, like the IBRD's safeguard standards,
do not embody the UK's full sustainable development objectives.
The point being made therefore remains valid.
15 July 2008