Resettlement Planning

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Equator Principles (EPIII) and IFC Performance Standards Training Courses

Equator Principles EPIII and IFC Performance Standards Training Course

Following successful courses delivered in London (hosted by Parsons Brinkerhoff on 21 Sept) and Toronto (hosted by TD Bank on 29 Oct), Prizma was commissioned by a confidential client to deliver a 1-day training courses on the Equator Principles (EPIII or EP3) and the IFC Performance Standards (2012) on December 19th, 2013 in Europe. Please contact us if you are interested in hearing about our future courses. - Shortlink is

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Gold Reserve ICSID Arbitration Update

Gold Reserve provides an update about its Request for Arbitration under the Additional Facility Rules of the International Centre for Settlement of Investment Disputes (ICSID) filed in Nov 2009 and  seeking compensation totaling approximately US $2.1 billion.

22 Sep 2014 update: Gold Reserve Awarded $740.3 Million by ICSID for the Expropriation of the Brisas Project by Venezuela


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Supporting Claimant at International Arbitration Hearing at ICSID

Prizma's Mehrdad Nazari was engaged by White & Case to serve as an Expert Witness for Claimant in the case of Gold Reserve Inc. v. Bolivarian Republic of Venezuela which is before the International Centre for Settlement of Investment Disputes (ICSID). According to its press release, Gold Reserve claims damages of approximately $2.1 billion arising from violations of provisions of the Canada-Venezuela bilateral investment treaty resulting in the effective expropriation of Gold Reserve's sizable investments in the Brisas gold/copper project and the Choco 5 property.

22 Sep 2014 update: Gold Reserve Awarded $740.3 Million by ICSID for the Expropriation of the Brisas Project by Venezuela

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European Bank Outreach to US-based Consultants in Chicago & Washington

European Bank

The Consultancy Services Unit of the European Bank for Reconstruction and Development is conducting an outreach to US-based consultants in Chicago (Nov 30) and Washington DC (Dec 1).  Read More

Prizma publishes Summer 2011 News


Articles: Prizma provided Expert Witness services on ICSID arbitration case, assisted Lundin Mining and Fulbright Academy to generate Sustainability Reports, and co-delivered four GRI-certified training courses. Access newsletter here.

IFC Performance Standards Revisions Entering Final Lap

In its recent CODE Progress Report on IFC Sustainability Framework Review and Update ( December 1, 2010), IFC notes that, with exceptions (such as the Access to Information Policy), majority of proposed changes are clarifications rather than material changes.  Read More

Convergence of GRI and IFC Performance Standards?

As noted earlier, GRI and ICMM launched the new GRI Metals and Mining Sector Supplement during the annual mining convention of PDAC in early March 2010. The new Sector Supplement integrated many references to the IFC Performance Standards and suggests increasing convergence amongst these internationally recognized guidelines. Read More

IFC Performance Standards:Lessons Learned

The IFC Performance Standards on Social & Environmental Sustainability have emerged as the de facto benchmark for developing and financing responsible extractive projects in emerging markets. The Canadian government’s March 2009 CSR Strategy for the Canadian International Extractive Sector, Building the Canadian Advantage, also includes the IFC Performance Standards. In this article, I review the genesis, significance and key challenges associated with the IFC Performance Standards, using also input from participants of over 20 workshops and training courses delivered in Canada, China, Panama, Peru, UK and Venezuela since 2006. Read More

Review of 3 years of IFC Performance Standards

Prompted by client questions, I revisited IFC’s Report on the First Three Years of Application of IFC’s Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information. IFC’s client surveys shows that 21 percent said the cost of PS implementation might negatively influence future decisions to work with IFC. Read More

“Avatar” – Case Study in Involuntary Resettlement Planning?

An extractive company (mining ‘unobtainium’), a botched resettlement program and heavy-handed interventions by security forces provide the backdrop in the SciFi movie “Avatar” played out on the fictional planet of Pandora. What lessons can this movie provide about IFC Performance Standards relating to Land Acquisition & Involuntary Resettlement for extractive projects here on Earth? Read More