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How the Largest Multilateral Development Bank Finances Conflict
August 2024
In light of the recent International Court of Justice ruling on Israel’s actions in the Occupied Palestinian Territory, this month’s newsletter explores the European Investment Bank's (EIB) financial investments in Israel. Despite the EIB’s commitment to uphold high environmental, social, and human rights standards, a closer look reveals systemic issues in its investment decisions, particularly concerning enhanced human rights due diligence and compliance with international law. This examination highlights the urgent need for the EIB to review its investments to ensure alignment with international law.
Research: How the Largest Multilateral Development Bank Finances Conflict
By Lama Almoayed — Aug. 6, 2024
Accountability Spotlight
Noteworthy updates on Bank and IAM policy and practice
World Bank gathers public feedback to assess the effectiveness and efficiency of its Independent Accountability Mechanisms
The World Bank has concluded a comment period to collect feedback on an independently drafted report to assess reforms intended to enhance the Inspection Panel’s Toolkit, including the creation of the World Bank Accountability Mechanism to facilitate dispute resolution.
The Complaints-resolution, Evaluation and Integrity Unit (CEIU) of the Asian Infrastructure Investment Bank (AIIB) collects comments on its standing Project-affected People’s Mechanism (PPM)
The CEIU has concluded initial efforts to collect feedback on the current PPM policy as part of a phased review aimed at strengthening the PPM policy and improving implementation. The second phase of the consultations will center on a draft revised policy based on feedback from the written comments as well as virtual and in-person consultations.
UN Working Group releases report urging institutional investors and financial regulators to address green-washing and human rights-washing in ESG investments
In its report, “Investors, environmental, social and governance approaches and human rights,” the UN Working Group on the Issue of Human Rights and Transnational Corporations and Other Business Enterprises urges investors to “Track the effectiveness of human rights due diligence efforts” by ensuring that investees undertake meaningful stakeholder consultation, respect Indigenous Peoples’ right to free, prior and informed consent, and enable access to remedy, including through operational-level grievance mechanisms.