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WORLD BANK GROUP ANNUAL MEETINGS 2008 Compliance Advisor/Ombudsman (CAO) Thursday October 9, 2008 9.30-11.00AM, MC C1-20

WORLD BANK GROUP ANNUAL MEETINGS 2008 Compliance Advisor/Ombudsman (CAO) Thursday October 9, 2008 9.30-11.00AM, MC C1-200. Our approach. Distribution of project risks and benefits underlie many concerns/ complaints to the CAO

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WORLD BANK GROUP ANNUAL MEETINGS 2008 Compliance Advisor/Ombudsman (CAO) Thursday October 9, 2008 9.30-11.00AM, MC C1-20

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  1. WORLD BANK GROUP ANNUAL MEETINGS 2008 Compliance Advisor/Ombudsman (CAO) Thursday October 9, 20089.30-11.00AM, MC C1-200

  2. 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

  3. 1. What does local development impact mean to you?

  4. 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)

  5. 2. What are the opportunities?

  6. Opportunities • Build strong corporate-community relationships • Create benefits = reduce conflict • Shared value

  7. 3. What are the obstacles?

  8. Obstacles • Confidentiality of business-related information • Flexibility and managing expectations • IFC/MIGA v. client reporting

  9. 4. What are the opportunities for implementing local DI reporting at IFC/MIGA?

  10. Our recommendations • Help companies engage with communities e.g. guidance on indicators & processes • Improve reportingaround significant impactprojects • Integrate E&S impact assessment with economic analysis • Address DI in strategy & staff/management incentives

  11. 5. Next stepsHow can we encourage implementation of these recommendations?

  12. www.cao-ombudsman.org

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