scholarly journals “Humanizing” investments in the extractive industries in Africa through the IFC’s sustainability policies

2020 ◽  
Vol 11 (1) ◽  
pp. 106-137
Author(s):  
Chairman Okoloise
Keyword(s):  
Sustainable Development ◽  
Human Rights ◽  
Social Services ◽  
International Finance ◽  
Developing Economies ◽  
Development Project ◽  
Extractive Industries ◽  
Project Financing ◽  
Resource Exploitation ◽  
Social Risks

International financial institutions face enormous challenges in Emerging Markets and Developing Economies (EMDEs). They finance infrastructure projects, manage vast investment portfolios, offer advisory services, and contribute to economic development in EMDEs. In the process, they areexposed to huge risks and face reputational damage if they act recklessly or have little or no regard for their projects’ adverse impacts on thirdparties. In the context of natural resource exploitation in Africa, the weak governance of environmental and social risks often results in devastating consequences for communities proximate to investment projects. Promises of infrastructure and social services, job opportunities and economic boom have only often delivered land grabs, forced displacement, cultural infringements, environmental pollution, conflicts, health disasters, misery and sometimes deaths. As calls for greater corporate scrutiny increase, investment project facilitators in the extractive industries like the International Finance Corporation (IFC) must respond appropriately. To preserve its reputation and long-term market access, the IFC needs to apply a higher degree of due diligence and sustainable business conduct that proactively treat risks and limit its exposure. With the rising number of complaints against IFC policy compliance, including projects tainted by scandals and the debarment of companies from accessing international finance, this article demonstrates that merely promoting sustainable investment policies on paper is inadequate. Using a human rights-centred approach to development project financing, the article critically assesses the extent to which the implementation of the IFC’s sustainability  framework can practicably protect resource-rich communities, safeguard human rights and ensure sustainable development outcomes in Africa. Keywords: Extractive Industries, Human rights, Project Financing, IFC, Compliance, Sustainable Development.

scholarly journals A fenntartható fejlődés elvei és azok érvényre jutása a banki gyakorlatban II. rész (The principles of sustainable development and their realization in the banking practice II. part)

2012 ◽  
pp. 57-63
Author(s):  
Éva Pintér ◽  
Nikolett Deutsch
Keyword(s):  
Sustainable Development ◽  
Financial Institutions ◽  
Relevant Literature ◽  
Project Financing ◽  
Internal Factor ◽  
Social Risks ◽  
The Social ◽  
Wide Range ◽  
Sustainable Finance

Az utóbbi évtizedben a környezettudatos gazdálkodás szerepének felértékelődése új tevékenységi területet nyitott meg a bankok előtt, amit nemzetközi szóhasználattal élve green banking-nek neveznek. A fenntartható fejlődést támogató projektek banki finanszírozása számos lehetőséget nyit a pénzügyi intézmények számára – hírnév, új ügyfélbázis, kockázatcsökkentés, jövedelmezőség növelése –, amennyiben a bankok a fenntarthatóság elveit megfelelően integrálják működési stratégiájukba. A cikksorozat második részében a szerzők a bankok fenntartható működését támogató külső és belső motiváló tényezőit veszik vizsgálat alá, amelyet már nemzetközi elvek és megállapodások is szabályoznak és támogatnak. Kiemelt fontosságot tulajdonítanak a környezettudatos gazdálkodás banki stratégiába történő integrálásának, melynek alapjait teremthetik meg a cikkben vizsgált nemzetközi irányelvek. ________ In the last decade, a lot of publications came to light, dealing with the social and environmental responsibility of financial institutions. Banks are expected to improve their competitive advantage by demonstrating economic development, while promoting environment care and social responsibility. This sustainable finance means to manage environmental and social risks in corporate lending and project financing. Green financial institutions have developed a wide range of innovations that can support sustainable development. This article highlights a few external and internal factor that support this aim, and which are regulated by international principles. However the authors’ survey shows that in the relevant literature there are a lot of ways to define sustainability and its achievement. They suggest that all of them can be interpreted associated with green banking operation. The goal of this paper is to identify the role of financial institutions in achieving sustainable development, and stress its strategic importance. The authors also attempt to show, why and how can this sector become the promoter of sustainability.

scholarly journals “Corruption” in Development Grants and Aids: An Impediment to Sustainable Development Initiatives

2014 ◽  
pp. 78-91
Author(s):  
Upma Gautam ◽  
Deeksha Bajpai Tewari
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
International Finance ◽  
Developing Economies ◽  
World Order ◽  
The Other ◽  
Development Model ◽  
Political Systems ◽  
Development Initiatives ◽  
Aids Programme

“Development” is a human-centric concept and so is “corruption”. A cursory glance at the neo-liberal world order reinforces the simultaneity of these two almost undeniably linked concepts. Focus on corruption as a development issue is not an isolated trend. Rather, it is part of a general shift in development thinking. In any system, corruption is related to political and economic development. Studies have documented the fact that the corruption in any society is the materialization of relationships between the state and the society as in: the role state plays, the manner of working of political systems, the existing development model, its potential future trail and also the type of global policies it adopts for development. The present paper, in one hand, analyzes the importance and relevance of grants and aids provided by the International Finance Institutions (IFIs) in smoothing development initiatives especially in the developing world. On the other hand, it also underlines the trends of corruption in such grants and aids programme and the pernicious impacts such corruption can cause in creating obstacles and interventions for developmental activities in the developing economies.

scholarly journals INTEGRATED DIMENSIONS OF SUSTAINABLE DEVELOPMENT

2017 ◽  
pp. 274-288
Author(s):  
Bhavesh Bharad
Keyword(s):  
Sustainable Development ◽  
Human Rights ◽  
United Nations ◽  
Social Services ◽  
Sustainable Development Goals ◽  
Fundamental Rights ◽  
The Sustainable Development ◽  
Societal Factors ◽  
2030 Agenda ◽  
Development Goals

Sustainable development as defined by the Brundtland Commission 30 years ago is “development which meets the needs of current generations without compromising the ability of future generations to meet their own needs”.1 Human rights are those basic rights and freedoms to which all humans are born with. When the basic needs and fundamental rights of individuals are not met, the ability to participate in social, economic, and environmental systems that promote sustainability is compromised. The Sustainable Development Goals (SDGs) was adopted at United Nations General Assembly through: "Transforming our World: the 2030 Agenda for Sustainable Development." 2 The Sustainable Development Goals are the blueprint to achieve a better and more sustainable future for all. They address the global challenges faced like, those related to poverty, hunger, inequality, discrimination, climate action, quality education, health, clean water and sanitation, peace and justice etc. All these hallenges are containing the human rights. The doctrine of these human rights without implementation of 17 Goals and 169 targets of the SDGs will not achieve their goal to ‘leave no one behind’. These means the SDGs require all goals to be reached, for everyone – especially those who are far away from this. Although, that the term human right is not mentioned anywhere in all the 17 SDGs. So, my present paper focuses on a study how the contributions of sustainable development are integrated to human rights. Societal factors which influence human rights. Societal factors which influence human rights and global sustainability are often found deeply rooted and when these services not provided, it may pose a risk to citizens and their human rights, creating a conflict and instability, preventing them from participating fully in society, feeding an unjust cycle. Further paper also highlights how on other side people with full access to natural 1 United Nations, Report of the World Commission on Environment and Development: Our Common Future, A/42/427, August 4, 1987. 2 A/RES/70/1 - Transforming our world: the 2030 Agenda for Sustainable Development, 21 Oct 2015 resources, a clean environment, employment, education, and social services, are able to live peacefully and securing their lives ultimately contributing to sustainable communities.

National Human Rights Institutions and Sustainable Development with Specific Reference to Selected African Examples

2020 ◽  
Vol 53 (1) ◽  
Author(s):  
John Mubangizi
Keyword(s):  
Sustainable Development ◽  
Human Rights ◽  
Best Practice ◽  
Specific Reference ◽  
African Countries ◽  
The Sustainable Development ◽  
Study Approach ◽  
National Human ◽  
Development Goals ◽  
National Human Rights Institutions

That National Human Rights Institutions (NHRIs) play an important role in the protection and promotion of human rights is a well-known fact. This has been widely acknowledged by the United Nations (UN). Also well-known is the fact that several African countries have enacted new constitutions during the last two to three decades. One of the most salient features of those new constitutions is that they establish NHRIs, among other things. Given their unique role and mandate, these NHRIs can and do play an important role in the realisation of the sustainable development goals contained in the UN 2030 Agenda for Sustainable Development. Adopting a case study approach, this article explores the role NHRIs have played in the promotion and protection of human rights in selected African countries and implications for sustainable development in those countries. The main argument is that there are several lessons African countries can learn from each other on how their NHRIs can more meaningfully play that role. Accordingly, best practice and comparative lessons are identified and it is recommended that NHRIs can contribute to sustainable development more meaningfully if they can make themselves more relevant, credible, legitimate, efficient and effective.

Standardization as a Tool of Achieving Sustainable Development of Organizations of Social Services

2020 ◽  
Vol 25 (1) ◽  
pp. 35-41
Author(s):  
N.L. Solovieva ◽  
◽  
I.V. Chudinovskikh ◽  
Keyword(s):  
Sustainable Development ◽  
Social Services ◽  
Services Sector ◽  
The Social ◽  
Strategic Goals ◽  
Goals And Objectives ◽  
International Companies

The article discusses the management of sustainable development of organizations using standardization as one of the tools of the quality economy. Particular attention is paid to the existing practice of Russian and international companies building strategic goals and objectives in accordance with the UN SDGs. The connection between standardization and sustainable development of the organization, in particular organizations of the social services sector, is shown.

Engaging Youth in Education for Sustainable Development: Strategies and Interventions

2015 ◽  
Vol 1 (2) ◽  
Author(s):  
Khushgeet Kaur
Keyword(s):  
Sustainable Development ◽  
Human Rights ◽  
Social Change ◽  
Young Women ◽  
Local Level ◽  
Education For Sustainable Development ◽  
Development Strategies ◽  
Children And Youth ◽  
Opportunities To Learn ◽  
The World

Although youth are often thought of as targets for Education for Sustainable Development (ESD) programmes, they are also active partners in creating a more sustainable world and effective ESD programmes. Today, more than ever, young women and men are change-makers, building new realities for themselves and their communities. All over the world, youth are driving social change and innovation, claiming respect for their fundamental human rights and freedoms, and seeking new opportunities to learn and work together for a better future. The education sector is generally seen as the most appropriate forum for involving children and youth in sustainable development, and initiatives to this end have been adopted in many countries. The present paper puts forth such initiatives, interventions and strategies that can be undertaken to engage youth in education for sustainable development at the global as well as the local level.

Dependence on Extractive Industries in Lower-income Countries

2018 ◽  
Author(s):  
Alan Roe ◽  
Samantha Dodd
Keyword(s):  
Oil And Gas ◽  
Developing Economies ◽  
Commodity Price ◽  
Extractive Industries ◽  
Upward Trend ◽  
Middle Income ◽  
Current Dependence ◽  
Lower Income Countries ◽  
Development Prospects ◽  
Low And Middle Income

This chapter synthesizes statistical information evidencing the proposition that extractive industries are of great significance in many low- and middle-income developing economies, and so to their development prospects. It examines the scale of the current dependence of low- and middle-income economies on both types of extractive resources: metals, and oil and gas. The chapter also assesses how country levels of dependence have changed in the past twenty years, showing that there has been a clear upward trend based on exports. The chapter outlines how the upward trend has continued in many countries despite the recent commodity price collapse, and assesses some of the consequences of that collapse.

The Interrelated and Interdependent Nature of Children’s Rights

2020 ◽  
pp. 69-98
Author(s):  
Savitri Goonesekere
Keyword(s):  
Sustainable Development ◽  
Human Rights ◽  
Ad Hoc ◽  
Holistic Approach ◽  
Children's Rights ◽  
Children’S Rights ◽  
Effective Implementation ◽  
Rights Of The Child ◽  
Global Agenda

The chapter analyses children’s human rights as universal norms and standards incorporated in the UN Convention on the Rights of the Child (CRC) that are relevant in diverse national contexts. Discussing national experiences and the quasi-jurisprudence of treaty bodies, the chapter argues that understanding the interrelated nature of the different groups of rights in the CRC is essential for effective implementation of these rights. It is suggested that the concept of the indivisibility of human rights and the global agenda of sustainable development reinforce the need for this approach. The chapter also discusses the interdependence, compatibility, and conflict between children’s rights and the human rights of other groups, such as parents, women, and a community with which a child connects as he or she grows to adulthood. The chapter argues that incorporating children’s rights in national constitutions, rather than ad hoc legislation, encourages this holistic approach to implementing children’s rights.

Sign in / Sign up

Export Citation Format

Share Document