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Sustainability Standards
Policies
The IDB is committed to developing internal standard-setting policies that are equivalent to the best international practices. The Bank's Environment and Safeguards Compliance Policy, Indigenous Peoples Policy and Disaster Risk Management Policy took us a step closer to this goal. Together with the IDB's Involuntary Resettlement Policy and new Access to Information Policy, these policies comprise a coherent set of sustainability standards to guide our work. They are summarized below.
Environment and Safeguards Compliance Policy
Mainstreams environmental considerations into the IDB's social and economic development objectives. Commits the Bank to safeguard the environmental quality of all operations and to introduce socially and environmentally responsible practices in its own facilities. Implementation Guidelines for the Environment and Safeguards Policy were approved in 2007.
Disaster Risk Management Policy
Provides an important tool for strengthening the effectiveness of Bank support to borrowers in risk management through a two-pronged approach: (i) prevention and mitigation of disasters resulting from natural hazards through programming and proactive project work at the regional, national and local levels; and (ii) post-disaster response to natural hazard events and physical damage from technological accidents or other disasters resulting from human activity. Disaster Risk Management Policy Guidelines were approved in 2008.
Operational Policy on Indigenous Peoples
Requires that the IDB safeguard indigenous peoples' rights in all our operations and mainstream indigenous priorities for development in its portfolio. Specific goals are to foster development appropriate to the economy and governance of indigenous peoples, to safeguard territorial and cultural integrity, and to preserve a harmonious relationship between people and the natural environment. The Operating Guidelines for the Indegenous Peoples Policy (IPP) was approved in 2006.
Involuntary Resettlement Policy
Covers any project financed by the Bank that involves the involuntary physical displacement of people living in the area. The goal is to minimize physical and economic disruption. If people must be displaced, the policy requires that pre-project conditions be established and, where possible, that displaced people share in project benefits. The policy also defines the scope and criteria of resettlement plans. The Involuntary Resettlement in IDB Projects: Principles and Guidelines document was approved in 1999.
In May 2010, the Board of Executive Directors of the Inter-American Development Bank approved a new Policy on Information Disclosure for the institution. The new Policy expands the information to be disclosed to the public on activities of the Board of Executive Directors, establishes the right to an independent review of denials of access to information and considerably increases the amount of information available on projects in execution. The new Policy became effective on January 1, 2011.
