The Inter-American Development Bank (IDB) today launched the public consultation process for a new Environmental and Social Policy Framework. The draft policy framework under consultation is a key element of a broader modernization process aimed at strengthening the environmental and social sustainability of IDB’s operations and allowing for a more effective response to the challenges faced by Latin American and Caribbean countries seeking sustainable growth.
On December 18, 2019, the IDB’s Board of Directors approved a draft version of the new Environmental and Social Policy Framework, which builds on decades-old safeguard policies, lessons learned, and best practices. The proposed policy includes a policy statement with IDB’s commitment to environmental and social sustainability as well as ten performance standards that borrowing member countries must meet.
The proposed policy broadly and systematically addresses environmental and social risks and impacts, and makes important advances in the areas of human rights, gender equality, nondiscrimination, and stakeholder engagement. Through it, the IDB reaffirms its commitment to the highest environmental and social management standards for the benefit of the people of Latin America and the Caribbean.
The public consultation process launched today will be conducted in a meaningful, inclusive and transparent way according to the plan approved by the Board of Directors.
The IDB invites interested stakeholders to participate in this process, which will include in-person meetings at the IDB headquarters in Washington, DC, and in select countries across Latin American and the Caribbean, Europe and Asia as well as virtual consultations. Stakeholders are encouraged to submit comments at www.iadb.org/en/mpas.
The IDB will publish a summary of the comments received at the conclusion of the consultation period.
Additional information may be found at https://www.iadb.org/en/mpas.
Source: IBD NEWS RELEASES