This month, 18 human rights and environmental organizations called on the Overseas Private Investment Corporation (OPIC), the United States’ development finance institution, to strengthen its human rights due diligence. OPIC is presently revising its social and environmental policy framework. The review follows investigations by OPIC’s own Office of Accountability which revealed that OPIC’s risk assessments were not adequately capturing human rights risks. The Office of Accountability recommended that OPIC establish formal criteria and processes for human rights due diligence, including procedures for identifying, assessing, and managing human right risks. While OPIC requires its private sector clients to comply with the standards of the International Finance Corporation, the policy submission spearheaded by Accountability Counsel and other Coalition members stressed that human rights due diligence for OPIC clients requires going beyond the IFC Performance Standards to additionally comply with the United Nations Guiding Principles on Business and Human Rights. Moreover, the groups stressed that OPIC must also set forward a human rights due diligence process for OPIC staff, such as the Coalition’s HRDD methodology, with measures to identify human rights-related risks at the country and project level, to ensure that OPIC-financed activities do not cause, contribute to or exacerbate human rights risks, and to remedy violations should they occur. You can read the submission here and a blog by Accountability Counsel here.
Groups call on OPIC to strengthen human rights due diligence
If you are in #Tbilisi, don't miss this beautiful art exhibition organised by @forum_adb showcasing some of the stories of communities across #Asia impacted by @ADB_HQ projects
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🌍 Join us for an insightful session on protecting people and the planet!
🌿 Forum is shedding light on CSO reflections regarding the @ADB_HQ Draft ESF and proposed changes in safeguards policy.
We'll discuss recommendations to safeguard project-affected individuals and…
🎨✨ In TBILISI now!
🌊 Explore a preview of our exhibition exposing the link between environmental degradation, social injustice, and human rights violations caused by @ADB_HQ projects.
With @ceebankwatch, @RightsinDevt, Green Alternative ✊🏽
Can't make it? No worries, catch…
The Lower Sesan 2 Dam is being partly funded by ABBank, a financial intermediary (FI) client of the @IFC_org. Financial intermediaries represent the nexus between development finance and commercial banking.
Read about the Lower Sesan 2 Dam Project here: http://bit.ly/IFC_LowerSesan2