Engaging Private Sector on Environmental and Social Risk Management and Grievance Redress

CAO participated in several forums this year that promoted dialogue with companies, banks and other stakeholders on good and emerging practice related to environmental and social risk management, grievance redress, and accountability. With the African Development Bank, CAO co-hosted a one-day training in Cote d’Ivoire for 20 AfDB and IFC client companies from West Africa. The training focused on effective community engagement, problem solving and grievance redress regarding the environmental and social impacts of private sector projects supported by the AfDB and IFC.

Commercial banks are also developing their practice in this regard. In Beijing, CAO participated in a workshop convened by the China Banking Association on environmental and social risk management around large infrastructure projects. The workshop brought together officials from the China Banking Regulatory Commission, Chinese financial institutions, civil society, and IFI accountability mechanisms. Later in the year, CAO participated in a meeting in Amsterdam convened by the Dutch Banking Association on due diligence, effective remedy, and multi-stakeholder initiatives. CAO also hosted policy discussion at the World Bank Group Spring Meetings, where representatives from Citibank, Oxfam, and IFC discussed emerging good practice in financial sector transparency.