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World Bank adopts XBRL for 2014 Sustainability Review

GRI XBRLThe World Bank continues to lead the pack of multilateral financial institutions in sustainability reporting. Not resting on its laurels, the Bank is now also one of the first adopters of GRI’s XBRL, a tagging system to make reporting machine-readable. Will others follow? Read More

How about Canadian Equator Banks and Transparency?

Having read Olaf Weber’s publication titled, “Equator Principles Reporting: Do Financial Institutions meet their Goals?” as well as Mehrdad’s review and comments on it (Equator Banks get poor Marks on Transparency and Disclosure ), I have been prompted to submit a few observations of my own based on a survey I carried out on Canadian EPFIs last year.

Blog by Bill Kennedy -  shortlink:

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MDBs adopting GRI Framework

Cover_GRI4As a former staff of the European Bank currently assisting the World Bank with a stakeholder panel review of its corporate responsibility review, I was impressed to see that many of the major multilateral development banks (MDBs) have adopted the sustainability reporting framework of the Global Reporting Initiative (GRI). The World Bank was one of the first organizations to adopt the latest – fourth generation – guidelines (GRI G4) already last year, and still remains the only one to do so amongst its peers.

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Equator Banks get poor Marks on Transparency and Disclosure

Equator Principles Reporting Do Financial Institutions meet their GoalsAs a practitioner involved in bankable ESIAs, and supporting developers and financial advisors/institutions for projects ranging from wind farms to mining, I follow the developments around the IFC Performance Standards and the Equator Principles closely. This is why Olaf Weber’s publication “Equator Principles Reporting: Do Financial Institutions meet their Goals?” caught my eye. -- Link:

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Eco Oro – formerly Greystar – Angostura gold under IFC CAO Review

Eco Oro Angostura Project under CAO Review

In April 2011, I posted a blog entitled IFC-owned Greystar/Angostura gold development in trouble and wondered if  IFC’s Ombudsman/Advisory Ombudsman (CAO) office (or others) would be asked to review why and how IFC proceeded with a $12 million equity investment in this project, which became reincarnated as Eco Oro Minerals Corp (TSX: EOM). Read More

NGO BankTrack zooming in on Equator Banks

BankTrack 2012 Annual ReportBankTrack, a networked NGO, continuous to position itself as a watchdog of the Equator Principles. According to its recently launched 2012 Annual Report, BankTrack is expecting to provide a platform for NGOs to pursue Equator Principles-related complaints.

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Postcard from the Panama Canal


As we were watching in awe how large container ships were guided through the Miraflores locks of the Panama Canal, I wondered if the tourists around us were aware of the on-going expansion of the Panama Canal, co-financed by IFC, ADC, IADB, EIB and JBIC, and the emerging $40 billion competition in Nicaragua. (Shortlink:

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IFC’s Draft Cumulative Impact Assessment Guidance out for Comments

IFC Draft Good Practice Note on CIACIA can be a vulnerable spot in bankable ESIAs for large scale project developments. This draft IFC Good Practice Note on Cumulative Impact Assessment and Management  is an interesting (required?) reading for bankable ESIA practitioners. Does it open up any cumulative cans of worms?

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Being Accused of Conflict of Interest not Fun

27_Kalia-Moldogazieva-taking-samples-at-the-Kumtor-Goldmine-Dr. Kalia Moldogazieva (right), the Director of “Tree of Life”, a Kyrgyz NGO, accused Prizma’s Mehrdad Nazari of “conflict of interest” in his work relating to Kumtor, a subsidiary of Centerra Gold. Are Dr. Moldogazieva’s concerns justified?


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Rangers, poachers decimate Snow Leopards, but Kumtor Mine gets NGOs’ attention

A recent report by the ‘Japarov Commission’ set up to investigate Centerra Gold’s Kumtor project following calls for renegotiating or nationalizing the mine provides for sober reading. It's rangers, poachers and shepherds – not Kumtor – that have decimated snow leopards and its prey. Will this be a story with a happy ending? Read More