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2023 Round Up
January 2024
Happy New Year! We want to thank our subscribers and readers for supporting our collective efforts toward greater accountability and community centered development. In 2021, we launched our Console Newsletter to feature research, accountability spotlights, and features from the Accountability Console. Since then, we've published almost 50 articles on a broad range of topics including how IAMs can be more accessible, how financial intermediaries contribute to community harm, and how the data shows that IFC/MIGA's remedy proposal falls woefully short.
In 2024, we hope to continue our research advocacy work through research projects on community perspectives of complaint outcomes, the impact of civil society organizations on complaint outcomes, and the publication of our Console Newsletter. In the meantime, we're showcasing the five most popular Newsletter articles of 2023. If you have an idea for an article on a topic we have not explored, email us at research@accountabilitycounsel.org. We'd love to hear from you!
Research: 2023 Round Up
By Lama Almoayed — Jan. 2, 2024
Accountability Spotlight
Noteworthy updates on Bank and IAM policy and practice
New report by CAO reveals the IFC's pattern of early exits
A new report by the IFC's accountability mechanism, the Compliance Advisor Ombudsman, was released in December 2023. The report reveals various accountability concerns, including that the IFC and its clients increasingly cancel or prepay loans in investments that have an ongoing complaint process. Amongst other issues, the report notes impact of exits on a community's access to remedy.
EU strikes provisional agreement on Corporate Sustainability Due Diligence Directive
In December 2023, the European Commission, Council and Parliament provisionally agreed on the parameters of the EU Corporate Sustainability Due Diligence Directive. Among other things, the regulation will require regulated entities to establish complaints mechanisms and design climate transition plans.