Review of IFC Remedial Framework

A letter from a coalition of civil society organizations to the World Bank Group Executive Directors outlining six minimum requirements for the International Finance Corporation's (IFC) updated Proposed Approach to Remedial Action.

• The coalition identifies six minimum features that the IFC's updated Proposed Approach to Remedial Action must include to be considered adequate: an obligation for IFC/MIGA and clients to remediate environmental and social harm; financial contributions from IFC/MIGA when it has contributed to harm; a clear approach to funding availability for remedial actions; a commitment to remediation as part of responsible exit (including not exiting projects with ongoing CAO cases without complainant consent); a commitment to remediate harm already identified via the CAO process; and a description of how IFC/MIGA will exercise leverage, including contractual leverage, to ensure clients prevent and remediate harm.
• The signatories state that the first draft of the IFC's approach was disappointing and that other stakeholders, including Development Finance Institutions (DFIs), Institutional Asset Managers (IAMs), and clients, have expressed agreement with many of the criticisms regarding that first draft.

APA

Center for International Environmental Law (2023). Review of IFC Remedial Framework. https://www.ciel.org/wp-content/uploads/2023/02/CSO-Letter-to-WBG-Board-Members.pdf

Chicago

Center for International Environmental Law. Review of IFC Remedial Framework. 2023. https://www.ciel.org/wp-content/uploads/2023/02/CSO-Letter-to-WBG-Board-Members.pdf.

Wikipedia

{{cite press release |author=Center for International Environmental Law |title=Review of IFC Remedial Framework |date=14 September 2023 |url=https://www.ciel.org/wp-content/uploads/2023/02/CSO-Letter-to-WBG-Board-Members.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centerforinternationalenvironmentallaw2023review, author = {{Center for International Environmental Law}}, title = {{Review of IFC Remedial Framework}}, publisher = {Center for International Environmental Law}, year = {2023}, month = sep, url = {https://www.ciel.org/wp-content/uploads/2023/02/CSO-Letter-to-WBG-Board-Members.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }