By World Bank
This review assesses the financial institution Group's help for environmental sustainability in either the private and non-private sectors over the last 15 years. It identifies numerous the most important constraints that have to be addressed, probably most significantly inadequate executive dedication to environmental objectives and susceptible institutional ability to house them. yet constraints in the financial institution crew, together with inadequate recognition to longer-term sustainable improvement, has to be decreased in addition. The financial institution crew wishes better platforms in position the world over financial institution, IFC, and MIGA to watch environmental results and to evaluate affects. greater coordination one of the 3 elements of the financial institution workforce can also be one of the key demanding situations.
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Additional info for Environmental Sustainability: An Evaluation of World Bank Group
Conclusions Management welcomes the opportunity to comment on this evaluation, notably because it covers a subject that is central to the overall vision of the World Bank Group. Management is in agreement with many aspects of IEG’s findings and conclusions. However, because of the methodology employed in the evaluation, including the different methodologies applied across World Bank Group institutions, management does not concur with some of the conclusions and recommendations. Management’s specific responses to IEG recommendations are outlined in the attached Management Action Record.
Until recently, the program supported close to $240 million in sustainable energy investments across the six countries, generating energy savings equivalent to more than $80 million per year and achieving carbon emission reductions of more than 160,000 tons a year. Expand MIGA’s environment-related technical assistance to Agreed. MIGA launched in 2007 a new trust fund-supported ef- clients. fort (with financial support from the government of Japan) to provide such technical assistance to clients in Africa.
The recent update of Part III of the Pollution Prevention and Abatement Handbook (that is, the industry-specific guidelines) (World Bank Group with UNEP and UNIDO 1999) led by IFC, in close collaboration with the Bank, is another example of both standard setting with global significance and of close collaboration between the two institutions. Strong coordination across MIGA, IFC, and the Bank. Management agrees that continually improved coordination across the Bank, IFC, and MIGA can xxxi E N V I R O N M E N TA L S U S TA I N A B I L I T Y yield even better results.