Project on Global Environmental Standards
Throughout the past decade, civil society, multilateral development banks, export credit agencies, commercial banks, private industry, and governments have all been searching in different ways for commonly accepted environmental and social standards to govern major investments in developing countries. While some standards come from international treaties, others come from the policies of development banks themselves, namely those of the World Bank Group. The project on global environmental standards focuses on the substantive and procedural aspects of integrating global environmental priorities into international financial and investment decisions. Such global environmental priorities include, but are not limited to, the reduction of greenhouse gases or the conservation of biological diversity; the future direction of investment policy, including what rules would be necessary to protect community-based sustainable development; and the administrative procedural principles and practice that should govern standard-setting at international organizations. This research project includes commenting and participating in consultations related to updates, re-drafting, and drafting of environmental and social standards at international organizations, primarily the International Financial Institutions.