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Bank, IFC, and MIGA Management will convene within the first half of fiscal 2011 a small group of senior-level environmental and social specialists to discuss approaches to either a shared set of objective criteria or alternative approaches to categorization that are more refined in scope and clearer to teams. Lessons learnt through the external review of the IFC’s environmental and social accountability. Original Response: 7. For example, MIGA is able to provide coverage for private equity funds under a master contract of guarantee that reserves capacity and provides up-front pricing for a specific period. However, MIGA has one advantage over other political risk insurance providers: it has a strong "deterrence" factor. In the past 10 years, the Compliance Advisor Ombudsman (CAO) has received 231 complaints related to projects of the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency's (MIGA), the two private sector arms of the World Bank Group.
The applicable E&S requirements for this project will be: (i) MIGA Exclusion List; (ii) applicable E&S laws and regulations in Colombia; and (iii) MIGA E&S Performance Standards. MIGA's NHSOE instrument will be used to support Findeter's local lending operations with a focus on climate finance infrastructure projects that will foster and support green economic recovery in Colombia after the effects caused by the COVID-19 pandemic, and lay out the basis for the stabilization, protection, and reactivation of the Colombian business base. These kinds of reviews are one of the integral ways in which all Independent Accountability Mechanisms (IAMs), of which the CAO is just one, improve, adapt and grow as their institutions and best practices develop. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Thirdly, MIGA's environmental and disclosure policies remain weak. IFC Management will provide internal guidance to staff regarding categorization as part of the update of its Environmental and Social Review Procedures, which will be finalized at the completion of the ongoing process of updating IFCs Sustainability Framework. The agency was created to complement both public and private investment insurance sources against non-commercial risks in developing countries. The higher returns of development: MIGA's catalytic role. • Work with MIGA clients to ensure plans are developed and projects will comply with MIGA's Policy on Environmental and Social Sustainability. The higher returns of development: MIGA's catalytic role. Management presented a second draft Environmental and Social Framework (ESF) to the Committee on Development Effectiveness (CODE) in June and July 2015. 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.
IFC's Environmental, Health, and Safety Guidelines. It stressed that an enabling environment must be paired with an appropriate regulatory framework, development of local markets, and incentives to align private investment with public goals. World Bank Group, Climate Change Action Plan WB CC & Safeguards Policy Review - Expert Focus Group, Mexico City, April 2013 IFC Climate Implementation Plan (April 2016): MCC's initiatives in Climate Change: USAID Environment and Global Climate Change. Furthermore, the criteria can also provide a basis for as assessing impacts to biodiversity in terms of "significant conversion" and "measurable adverse impacts". Our past events are posted on the WAB website, including presentation material provided by speakers: And of course, please check out the variety of impact assessment related resources available at and also take the opportunity to renew memberships or join IAIA. Recognize that an effective CAO is an integral component of IFC/MIGA's E&S accountability. Here at the IRM we hope that these findings will have positive consequences across IAMs and IFIs, including within our own institution. • Ability to work well with a range of stakeholders, including project-affected peoples, government officials, NGO's / civil society, as well as project investors and their staff. Miga environmental and social policies act. 01 and indeed is in need of revision. Firstly, it recommended that there should be a requirement for all IFC clients to create a means of funding remedy should it be required.
A discussion of the CAO can be found in DTE Factsheet 15, September 2001. Required Language(s): English. Justin Pooley is a Principal Specialist in IFC's Environment, Social & Governance Department and the department's global sector lead for power projects. The communities of practice are being used to support the standardization of application of the safeguard policies by staff to improve the quality of our work. Raymi Beltran is a Senior Environmental Specialists with IFC's Oil, Gas and Mining Group. 01 Environmental Assessment, which was posted on the safeguard policies website in February 2012. Revise the policy frameworks to harmonize thematic coverage and guidance across the WBG and enhance the relevance of those frameworks to client needs. Miga environmental and social policies procedures pdf. Infrastructure||19%||29%||19%|.
• International experience required and ability to travel to developing countries. MIGA's services are not unique. His presentation is available here and the Cumulative Impact Assessment report is available here. A large majority of MIGA's clients are multinational corporations based in industrialized nations, including some of the largest corporations in the world: Japan-based Mitsubishi and Marubeni, U. S-based Citigroup and tobacco-giant Philip Morris. 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. Printed versions are free of charge to existing DTE subscribers and exchange partners. IFC, MIGA, and the World Bank should jointly adopt and use a shared set of objective criteria to assess social and environmental risks to ensure adequacy and consistency in project categorization across the WBG, using the more inclusive criteria for category A, and refining the categorization system to address the bunching of higher- and lower-risk projects within the current category B. This process was initiated in October 2012 and is currently anticipated to be completed in the middle to end of 2014. Environmental and Social Development Specialist at WBG, Washington D.C., United States. 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. This session focused on experiences shared by members of the Smithsonian Conservation Biology Institute's Center for Conservation and Sustainability. IFC's Sustainability Framework includes its Policy on Environmental and Social Sustainability, Performance Standards, and Access to Information Policy.
The Environmental and Social Development Specialist will perform the following functions-. 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. Roles & Responsibility: The Environmental and Social Development Specialist will be required to undertake the following tasks: • Assess the potential environmental and social (E&S) risks and/or impacts of assigned projects against the requirements of MIGA Performance Standards (PSs) on Environmental and Social Sustainability. This link to the Pre-2006 Safeguard Policies is provided for reference only. Climate Change and Impact Assessment will surely continue to evolve as an interest of WAB/IAIA members. Miga environmental and social policies of germany. At the United Nations Development Program (UNDP), Miguel pushed forward new environmental regulations for mining and petroleum activities in South America.