Revise or Mainstream the IFC Performance Standards?
The current IFC Performance Standards emerged in 2006 as one of the major outcomes of the World Bank Group’s self-critical Extractive Industry Review. Is it really time to revise the IFC Performance Standards, which is now under way, instead of focusing more on their broader adoption and application? Are we allowing the perfect to be the enemy of the good?
It seems that over the past decade or so, we have started to see a shift towards more responsible development, financing, and implementation of extractive projects in emerging markets. The publication of the
Looking at some of the complaints lodged with the
Without denying the value of capturing lessons learned and adjusting to rapidly evolving CSR and impact assessment state of practice, I sometimes wonder if there is not more value to be gained by more effectively addressing issues such as capacity building and mainstreaming.
Do you think that IFC should continue to push the frontier of best practice or focus more on mainstreaming? How could IFC and/or other players support capacity building efforts and further leverage existing good international practice in the extractive sector?
Mehrdad Nazari - Blog: www.prizmablog.com