Mitsubishi UFJ Financial Group Joins Growing List of Banks Distancing Themselves from East African Crude Oil Pipeline

Eacop banner

In a significant development, Japan’s Mitsubishi UFJ Financial Group (MUFG) announced its non-involvement in financing the controversial East African Crude Oil Pipeline (EACOP). The decision comes in response to mounting pressure from climate activists and the StopEACOP coalition, highlighting concerns over the project’s impact on climate, nature, and human rights. MUFG’s withdrawal follows that of […]

SMBC Ends Involvement as EACOP Financial Advisor, Taking a Stance Against Controversial Project

The StopEACOP coalition celebrates Sumitomo Mitsui Financial Group’s (SMBC Group) recent declaration of non-involvement in the East African crude oil pipeline project (EACOP). SMBC’s decision comes on the heels of Standard Chartered Bank’s similar announcement, highlighting the growing concerns over climate change, the environmental impact associated with the project and the impact on frontline communities. This […]

Joint CSO Statement Calls on IFC and MIGA to Strengthen its New Approach to Remedial Action Policy

Inclusive Development International joins an alliance of civil society organizations to assert that a newly released proposal on remedial action by the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) falls short of expectations and fails to provide a comprehensive plan for delivering remedy to affected communities. If IFC and MIGA cannot […]

Comments on U.S. National Action Plan on Responsible Business Conduct

The U.S. Capitol building with American flag

In June 2021, the Biden-Harris Administration announced plans to update the U.S. National Action Plan on Responsible Business Conduct. This presents an important opportunity to fix weaknesses in the original plan, published in 2016, which lacks concrete commitments concerning accountability and remedy for harms stemming from U.S. government and private sector investments and development activities. Inclusive Development […]

Watchdog Slams World Bank Group for Helping Bankroll Philippines Coal Boom

MANILA, Philippines – The World Bank Group’s private lending arm, the International Finance Corporation (IFC), violated its own environmental and social protection policies  as it helped bankroll a disastrous coal boom in the Philippines, according to an independent investigation made public today. In its report, the IFC’s internal watchdog, the Compliance Advisor Ombudsman (CAO), calls […]

New Guide For Making Accountability Mechanisms More Effective

The Good Policy Paper: Guiding Practice from the Policies of Independent Accountability Mechanisms, published today, is a roadmap for financial institutions setting up new independent accountability mechanisms (IAMs), as well as a tool for existing IAMs to evaluate the effectiveness of their current policies. The Good Policy Paper examines the policy provisions currently in place […]