This is an extract. See the full IPS article by Emilio Godoy here.
The World Bank is working to update the mechanisms it uses to measure the effects of the financing it provides, particularly in environmental and social terms, now that it is gearing up to administer the new Green Climate Fund.
"The Bank is working to deepen the measurement of impacts," not only "the outcomes associated with a project, but also its long-term effects, such as impacts on health, ecosystems or the quality of life of the population," Gustavo Saltiel, the director of sustainable development for the World Bank in Mexico, told Tierramérica.
The World Bank has established safeguard policies to "promote socially and environmentally sustainable approaches to development as well as to ensure that Bank operations do not harm people and the environment," according to its website.
These safeguard policies include the Bank's policy on environmental assessment of loan proposals and the corresponding safeguards regarding cultural property, disputed areas, forestry, indigenous peoples, international waterways, involuntary resettlement, natural habitats, pest management and safety of dams.
Evaluations of these policies "have demonstrated the poor work done (by the Bank) in monitoring the execution of measures to mitigate social and environmental risks," Vince McElhinny of the non-governmental Bank Information Center, based in Washington, told Tierramérica.
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