Revision of IFC Performance Standards must include highest human rights and environmental due diligence standards
Leading environmental and human rights NGOs are urging the World Bank and the International Finance Corporation (IFC) to strengthen their Sustainability Framework and Environmental and Social Performance Standards, ensuring they meet the highest environmental, social, and governance criteria. As initiatives like the Minerals Security Partnership advance to secure transition mineral supplies, it is crucial that these projects uphold rigorous standards.
The coalition calls for key improvements, including adopting a Human Rights-Centered Approach, enhancing transparency and compliance through stronger audits, and improving access to remedy mechanisms for affected communities.
Related Articles
View All
How can Europe reduce its strategic dependencies by boosting recycling?
Europe talks the talk on recycling. But can it walk the walk? The upcoming Circular Economy Act must prove we have what it takes.
How the Industrial Accelerator Act can help avoid more battery factories going bust
The new law should have a laser sharp focus on what needs to be onshored and localised.
34 Northvolt-sized battery factories could be lost if EU scales back EV targets – study
As the global auto industry rapidly shifts toward EVs, new analysis warns that Europe risks forfeiting a major industrial opportunity.