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Article

1 Jun 2015

Author:
SOMO & Both ENDS

A summary of the Independent Complaints Mechanism’s findings on Barro Blanco and FMO-DEG management response

…The [Independent Complaints Mechanism] ICM finds that the banks were not in the position to assure themselves that the Barro Blanco was fully compliant with Performance Standards 1 (on Social and Environmental Assessment and Management Systems), 5 (Land Acquisition and Involuntary Resettlement), 6 (Biodiversity Conservation and Sustainable Natural Resource Management), 7 (Indigenous Peoples) and 8 (Cultural Heritage)…FMO/DEG’s Response[d]: “With regard to land…we will strive for a more elaborate formal opinion from lawyers or other experts, with defined expertise in indigenous peoples’ rights and the local legal context…and we will structurally consider this recommendation for future investments.”

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