The transparency practices of development finance institutions (DFIs) rarely match up to their policies on the disclosure of environmental, social and governance (ESG) risks and accountability, according to new research from our DFI Transparency Initiative. The research examined the transparency of 20 bilateral and multilateral DFIs.
Join us on 11th February to discuss the transparency of development finance institutions (DFIs), with a focus on our findings from work stream 3 on environment, social and governance (ESG) and accountability to
The DFI Transparency Initiative is about to release its latest working paper on environmental, social and governance (ESG) and accountability to communities. Fran Witt (Economic Justice and Climate Change Consultant) and Fidanka Bacheva-McGrath (EBRD Policy Officer, Bankwatch) provide a CSO perspective on the transparency and accountability challenges for public development banks (PDBs). They argue that PDBs have much work to do in order to meet their commitments to the rights of project-affected communities.
Our DFI Transparency Initiative has completed its third research Work Stream on ESG and accountability to communities. One of our findings relates to the topic – to what extent do development finance institutions (DFIs) provide assurance that they have undertaken community engagement activities in the areas where they invest, and why does this matter? Rayyan Hassan, Executive Director of the NGO Forum on the Asian Development Bank (ADB)and our CEO, Gary Forster, sat down to discuss the issue.
The US International Development Finance Corporation (DFC) recently invited public comments on its draft transparency policy and draft policy on public engagement by the DFC Board of Directors. The draft policies are a step in the right direction, but additional actions can be taken to improve the transparency and accessibility of the DFC’s data. George Ingram and Sally Paxton highlight steps that could help the DFC reach its commitment to be the gold standard for transparency among development finance institutions.
The Finance in Common Summit is reportedly the first time that the world’s 450 public development banks will gather in support of common action for climate and the UN Sustainable Development Goals. As we approach the halfway point of the DFI Transparency Initiative, we reflect on what we’ve learned and discuss the implications for communities, markets and the private sector as public development banks continue to grow.
