Update and Consolidation of World Bank Safeguard Policies
The World Bank is currently undertaking a comprehensive process for ‘Updating and Consolidation’ of eight of its so-called ‘Environmental and Social Safeguard Policies’ and its policy on the use of Country Systems. ‘Safeguard Policies’ are policies intended to establish minimum requirements to minimise or remove the risk of social and environmental harms being directly caused by World Bank financed activities. The Country Systems policy is intended to allow countries to apply their own social and environmental safeguard systems if they are judged to be equivalent to the Bank’s own standards.
The ‘Updating and Consolidation’ process will have immense importance for indigenous peoples and others impacted by World Bank financing. In addition to all the normal areas of Bank financing, including for infrastructure, agribusiness, extractive industries and development policy loans, the Bank is increasingly involved in financing climate change-related initiatives, including those aimed at reducing deforestation and those designed to improve the adaptive capacity of both eco-systems and communities.
Given increasing pressures on the World Bank to compete with financial institutions in developing countries, there is a genuine concern that the ‘Updating and Consolidation’ process could result in a weakening of safeguards and reduced accountability of the World Bank and borrower countries. There may even be risks that some specific policies could be lost altogether. Forest Peoples Programme and many indigenous organisations and NGOs are engaged in tracking this process in an effort to ensure that it results in strengthened standards and greater World Bank accountability.
Begun in 2010, the process is proceeding slowly, but it is expected that a new set of policies will be in place in 2014. Details of the current status of the review can be found on the World Bank's website.
This FPP website page will provide up-to-date information on the ‘Updating and Consolidation’ process and related critical issues as they emerge.