world bank group annual meetings 2008 compliance advisor/ombudsman (cao) thursday october 9, 2008...

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WORLD BANK GROUP ANNUAL MEETINGS 2008

Compliance Advisor/Ombudsman (CAO)

Thursday October 9, 20089.30-11.00AM, MC C1-200

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Our approach

Distribution of project risks and benefits underlie many concerns/ complaints to the CAO

Potential for IFC/MIGA to pay more attention to local development impacts to enhance project outcomes

The role of a financial institution presents opportunities and limitations

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1. What does local development impact mean to you?

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What does development impact mean…

…For workers, families, suppliers, business owners, customers:

Employment Supply chain/procurement Community development funds Local capital (e.g. infrastructure, health, training)

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2. What are the opportunities?

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Opportunities

Build strong corporate-community relationships

Create benefits = reduce conflict Shared value

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3. What are the obstacles?

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Obstacles

Confidentiality of business-related information

Flexibility and managing expectations IFC/MIGA v. client reporting

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4. What are the opportunities for implementing local DI

reporting at IFC/MIGA?

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Help companies engage with communities

e.g. guidance on indicators & processes

Improve reporting around significant impact projects

Integrate E&S impact assessment with economic analysis

Address DI in strategy & staff/management incentives

Our recommendations

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5. Next stepsHow can we encourage implementation of

these recommendations?

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www.cao-ombudsman.org