Toothless Tiger or Guardian at the Gates? Evaluating the Enforcement Mechanisms of the IFC Sustainability Framework.

The International Finance Corporation’s (“IFC”) Sustainability Framework, comprising three buckets — the Policy on Environmental and Social Sustainability, eight Performance Standards, and the Access to Information Policy — adopted in 2012, presents a laudable ambition: ensuring environmental and social safeguards in projects financed by the Corporation. Yet, the effectiveness of these safeguards rests precariously upon the shoulders of its enforcement mechanisms, a topic of debate among legal scholars and practitioners. This blog post serves as a starting point for critically examining the current regime, its successes and stumbles, and ultimately raises the question: Are these mechanisms robust enough to safeguard against environmental and social harm, or do they leave projects vulnerable to the pitfalls of non-compliance?

Read more - https://bhuvanyaavijay.medium.com/toothless-tiger-or-guardian-at-the-gates-87b3d74bcc34