1 / 5

Compliance Mechanisms

Compliance Mechanisms. Compliance role Advisory role Ombudsman role PLUS: Raise awareness of rights; ensure respect Characteristics: independent, independent funding, high standards, binding, accessible and transparent Among ECAs: EDC, JBIC & OPIC (+CAO, OECD).

licia
Download Presentation

Compliance Mechanisms

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Compliance Mechanisms • Compliance role • Advisory role • Ombudsman role • PLUS: Raise awareness of rights; ensure respect • Characteristics: independent, independent funding, high standards, binding, accessible and transparent • Among ECAs: EDC, JBIC & OPIC (+CAO, OECD)

  2. Export Development Canada’s Compliance Mechanism • Established through Act governing EDC • Plays a compliance/advisor/ombudsman role • Mandate: EDC’s environmental, social, human rights and business ethics policies • Independent? High standards? Binding? Accessible? Transparent and accountable?

  3. Halifax Initiative’s complaint • Cernavoda 2 - $300 million+ loan guarantee • Halifax Initiative and CRBM – filed a complaint • Breached its disclosure policy (no EIA) • Key omission in all three EIAs • Failure to meet host country requirements – consultation, incomplete EIA • Breach of Espoo Convention – transboundary impacts

  4. Outcome of the complaint • EDC fully compliant with all of its policies • Very little reporting out – stopped by Board • No effort by CO to correct weak policies • None of the recommendations taken up • 12 months wait

  5. Lessons Learned: Opportunities and Challenges • Dependent on the strength of institutional policies and key characteristics • Few ECAs with COs – little chance for leverage • Despite failures, could push for COs in all ECAs • Would have potential internal advocates, lessons learned • Limited approach: • May change policies, due diligence, BUT rarely stops projects • Resources  Institution vs. Community (e.g. monitoring) • Compliance or accountability?

More Related