Independent accountability mechanism

Independent accountability mechanism

Multilateral development banks and otherdevelopment agencies have adopted environmental and social safeguard policiessetting the standards for the provision of project finance. Each institutionhas also established independentaccountability mechanisms, variously functioning to ensure compliance withthe applicable safeguards, to facilitate communication with affectedcommunities, to advise management regarding the application of the obligationsinvolved, with a view to resolving project-related disputes. IAMs are centralto the implementation, interpretation, and ongoing elaboration of safeguardpolicies. Thus it became essential for sustainable development forenvironmental and social good governance. To know more, you must land onSustainable Finance.