Final Environmental and Social Policy Statement (October 15 2010)
Dam Review Procedures
Environmental and Social Policy Revision
After a productive public comment session, I am pleased to release OPIC’s revised and strengthened Consolidated Environment and Social Policy Statement/Labor and Human Rights Policy Statement.
For decades, OPIC has been a leader among bilateral international investment institutions in developing and applying environmental and social policies that advance long-term, sustainable economic development. With the issuance of this revised Statement which combines an evolving set of international best practices with our policy review criteria, OPIC is proud to remain at the forefront of these critical issues.
By adopting the International Finance Corporation’s Performance Standards on Social and Environmental Sustainability, we are aligning OPIC with leading development financial institutions, offering greater certainty to investors while ensuring the highest standards in responsible investment policy. At the same time, the Statement reinforces OPIC’s commitment to global challenges including climate change and is consistent with our attentiveness to the economic impacts of OPIC investments, at home and overseas.
We are particularly grateful for the many thoughtful comments we received from various OPIC stakeholders and pleased that most were incorporated into the Statement’s final language. The end result is a document which provides a consistent and transparent framework that defines OPIC’s own roles and responsibilities, clearly articulates the responsibilities of private sector investors with whom we do business, and promotes best practices in addressing stakeholder concerns.
I thank you for your interest in OPIC and welcome your continued input on how we can work together to further our common aim of bringing sustainable prosperity to developing countries around the world.