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【Top 10 International Events】No.04 World Bank approves New Environmental and Social Framework

2017-02-28GoldenBeeadmin0010

Since 2006, China WTO Tribune has set up an annual column of the top 10 domestic and international CSR events in the past year. In order to ensure comprehensive samples with more precise event description, and open and transparent selection process, we made daily collection and classification, and a consultation of a selected numbers of CSR experts from government, enterprises, universities and research institutions was conducted to further ensure the professionalism and authority of this list.

No.04 World Bank approves New Environmental and Social Framework


On August 4, The World Bank’s Board of Executive Directors approved a new Environmental and Social Framework (ESF). The approved ESF introduces comprehensive labor and working condition protection; an over-arching non-discrimination principle; community health and safety measures that address road safety, emergency response and disaster mitigation; and a responsibility to include stakeholder engagement throughout the project cycle. The framework is expected to go into effect in early 2018.
 
Reason for listing:
 
Responsible investment is indispensable to guide enterprises to acquire economic, social and environmental benefits and realize sustainable development. More and more governments and international organizations tend to use economic leverage to lead the responsible operation. World Bank raises the environmental and social standard of bank-financed investment projects can satisfy and deal with the new challenges and demands of the development projects and also contribute to improving the efficiency and transparency of bank-financed investment projects and improve the development results. 
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