U.S. International Development Finance Corporation, which finances private sector development solutions, has asked its independent office that reviews complaints to investigate its investment in Bridge International Academies, a for-profit chain of schools where child sex abuse was reported in Kenya in 2020.
A new open-access online tool, developed by human rights NGO Inclusive Development International and the University of Chicago Data Science Institute, aims to address this issue. Called PalmWatch, it links 15 major industrial consumers of palm oil, such as Nestlé, PepsiCo and Unilever, to the ground-level impacts of their palm oil consumption, including deforestation.
World Bank President Ajay Banga has apologized for the “trauma” experienced by children sexually abused at schools in Kenya supported by the bank’s private-sector arm, but has stopped short of offering them financial compensation.
The World Bank’s internal watchdog on Thursday criticized the organization’s handling and oversight of its investment in a chain of Kenyan schools that were subject to an internal investigation after allegations that students were abused.
The Inclusive Development International, Blood Money Campaign Myanmar (BMC), and Alternative ASEAN Network on Burma (ALTSEAN-Burma) submitted complaints against indexes MSCI, FTSE Russell, and S&P Dow Jones Indices for alleged violation of the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises on Responsible Business Conduct.
Environmental and human rights groups have filed a complaint with a British government mediation body against Standard Chartered (STAN.L) over its financing of four coal-fired power plants in the Philippines, the groups told Reuters on Thursday.
