Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 220

Independent investigation

Posted by fidest press agency su martedì, 2 giugno 2015

amsterdamWhile the banks asserted that their consultants found nothing that would warrant the suspension of the project, they failed to mention that their own independent accountability mechanism was undertaking an investigation of the project. Indeed, by that time, the banks had already seen a draft of the ICM’s report with findings that the project was not in compliance with its own policies. “We were surprised to find out about the role of the banks in influencing the national process, as this is in contradiction to their assertions that they are not in a position to intervene in national decision-making.” said Anouk Franck, senior policy advisor at Both ENDS, based in Amsterdam. “They should now show their commitment in coming to a solution and start taking FPIC seriously, in the case of Barro Blanco, where due to delays in tackling the issue, the banks might need to accept losses on their loan. And they need to find ways to assure themselves FPIC is obtained where relevant, for example through human rights impact assessments.”
The handling of the complaint was a lengthy and at times frustrating process. GENISA refused to cooperate with the ICM and provide them with access to project documents, leading the banks to conclude a secret side agreement with GENISA. The secret side agreement superseded the publicly available procedures of the ICM and allowed GENISA to review the draft and final investigation reports before they were shared with complainants. “FMO and DEG are more concerned with protecting the interests of their client than they are with protecting the rights of those affected by the projects they finance,” said Kris Genovese, senior researcher at the Centre for Research on Multinational Corporations (SOMO). “It’s a tragic irony that banks asked the consent of the company to publish the ICM’s investigation report, but didn’t ask consent of Ngöbe-Buglé for the project.”
The Barro Blanco project was registered under the Clean Development Mechanism, a system under the Kyoto Protocol that allows the crediting of emission reductions from greenhouse gas abatement projects in developing countries. “As climate finance flows are expected to flow through various channels in the future, the lessons of Barro Blanco must be taken very seriously. To prevent that future climate mitigation projects have negative impacts, a strong institutional safeguard system that respects all human rights is required,” said Pierre-Jean Brasier, network coordinator at Carbon Market Watch. “The opportunity to establish such a necessary safeguards system is now, ahead of the Paris agreement, to put the respect of human rights on top of the UNFCCC agenda.”The ICM will monitor the banks’ implementation of corrective actions and recommendations. Meanwhile, the M10 expect FMO and DEG to withdrawal their investment from the project and ask that the Dutch and German governments show a public commitment to ensuring the rights of the affected Ngöbe-Buglé. At the same time, the banks should refrain from putting pressure on the Panamanian government.


Inserisci i tuoi dati qui sotto o clicca su un'icona per effettuare l'accesso:

Logo di

Stai commentando usando il tuo account Chiudi sessione /  Modifica )

Google photo

Stai commentando usando il tuo account Google. Chiudi sessione /  Modifica )

Foto Twitter

Stai commentando usando il tuo account Twitter. Chiudi sessione /  Modifica )

Foto di Facebook

Stai commentando usando il tuo account Facebook. Chiudi sessione /  Modifica )

Connessione a %s...

%d blogger hanno fatto clic su Mi Piace per questo: