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Article

4 Jul 2013

Author:
Committee for the Defense of Water and Páramo of Santurbán, the Interamerican Association for Environmental Defense (AIDA), the Center for International Environmental Law (CIEL) and MiningWatch Canada

World Bank Investment in Eco Oro Minerals in Colombia to be Audited [Colombia]

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…[CAO], the independent complaints office of the…[IFC], will carry out an audit of the IFC’s decision to purchase…shares of Eco Oro Minerals (previously Greystar Resources)…in response to a complaint presented…by the Committee for the Defense of Water and Páramo of Santurbán with support from…[other two NGOs that] argue that the investment did not comply with the social and environmental sustainability policies of the IFC…The CAO’s investigation will focus on whether the evaluation of social and environmental risks was adequate, particularly considering the long-term and cumulative risks…