Impact of the World Bank Group's Social and Environmental Policies on Extractive Companies and Financial Institutions : Phase One
The World Bank Group (WBG) has emerged as a standard bearer that members of the international corporate community assess themselves against, often regardless of whether they are involved in a direct funding relationship. For example, a trend has be...
| Main Authors: | , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2003/06/18594735/associates-global-change-impact-world-bank-groups-social-environmental-policies-extractive-companies-financial-institutions-first-phase http://hdl.handle.net/10986/16957 |
| Summary: | The World Bank Group (WBG) has emerged
as a standard bearer that members of the international
corporate community assess themselves against, often
regardless of whether they are involved in a direct funding
relationship. For example, a trend has been noted that some
extractive industry companies, who, for the most part are
not direct recipients of WBG assistance, are changing the
way they do business and adopting practices that follow
social and environmental guidelines similar to those
prescribed by the World Bank. This research effort,
commissioned by the WBG's Extractive Industry Review
Secretariat, examined a number of extractive companies, and
the private financial partners and export credit agencies
that finance them, to ascertain the impact - if any - the
WBG guidelines are having on their environmental and social
policies and practices. Research was focused in particular
on smaller exploration and production companies which are
not direct clients of the WBG. Key findings indicate that
WBG policy impacts on small Exploration & Production
(E&P) companies appear indirect and minimal, and that
the WBG appears to have a more significant and direct impact
on private financial partner and Export Credit Agency (ECA)
environmental and social initiatives. |
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