There has been sustained interest from affected communities, as well as members of the Boards of IFC and MIGA, for disaggregated, project-level development impact reporting by IFC and MIGA. Based on its own experience, the CAO has advocated for enhanced local-level transparency and reporting as a key opportunity for mitigating and resolving corporate-community disputes and conflict.
Recent changes to the disclosure policies of MIGA create opportunities for enhanced reporting to local communities. IFC has adopted a more comprehensive approach, but one which relies on aggregate reporting. The CAO has published this Advisory Note to examine the business case for grievance mechanisms and the constraints to enhanced project-level development impact reporting. CAO's objective, in accordance with its Advisory function, is to provide practical recommendations and advice to Senior management based on this work.
The Advisory Note focuses on three key issues:
- The challenges to project-level development impact reporting of private sector operations
- Practical recommendations for overcoming such challenges
- How development impact reporting at IFC and MIGA can be most meaningful and useful for project-affected communities
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