Revision of EBRD 2008 Environmental and Social Policy
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
Bankwatch welcomes the two-stage consultation process for the revision of the EBRD's Environmental and Social Policy (ESP) and the opportunity to comment on the existing policy. Since the adoption of the ESP in 2008, our experience with a number of controversial projects suggests that the implementation of the ESP has not sufficiently safeguarded the environment and communities affected by EBRD investments, in spite of the policy’s ambitious commitments and expectations. Moreover flaws in the implementation of the policy have pointed to gaps in the overall mandate of the bank, in particular those related to promoting sustainable development and climate action. The following proposals are aimed at prompting considerable improvements in the new ESP.