Please join us for a discussion about the International Finance Corporation's investments in Indonesian Palm Oil and the resulting World Bank decision to suspend further palm oil investment until a sector strategy is prepared

Co-hosted by the World Resources Institute and the Center for International Environmental Law
November 19, 2009

What: Discussion about the Compliance Advisor Ombudsman’s Wilmar Case

When: Thursday, November 19, 5pm-6:30pm

Where: World Resources Institute, 10 G Street NE, Suite 800, Washington, DC (Directions: http://www.wri.org/about/contact)

Please RSVP to: Kirk Herbertson

Who:

• Marcus Colchester, Director, Forest Peoples Programme
• Jyrki Koskelo, IFC Vice President, Europe, Central Asia, Latin America and the Caribbean, and Global Financial Markets
• Oscar Chemerinski, Director, IFC Agribusiness Department
• Meg Taylor, IFC Vice President, Compliance Advisor Ombudsman
• Amar Inamdar, Principal Specialist, Ombudsman, CAO
• Henrik Linders, Senior Specialist, Compliance, CAO

Call in number: Participants will also be able to call into this meeting. If you plan to join by telephone, please email Kirk Herbertson.

In July 2007, Forest Peoples Programme, indigenous organizations, and other local and international NGOs lodged a complaint with the Compliance Advisor Ombudsman (CAO) of the International Finance Corporation (IFC) raising concerns about the adverse environmental and social impacts of Wilmar Group palm oil operations in Indonesia, which had received four separate loans from the IFC. The CAO Ombudsman facilitated a settlement between the communities and company that resulted in a settlement which included the communities regaining access to a portion of its land. The CAO Compliance Audit found that IFC had failed to ensure compliance with its Performance Standards on Social and Environmental Sustainability, stating that “the adoption of a narrow interpretation of the investment impacts—in full knowledge of the broader implications—is inconsistent with IFC‘s asserted role, mandate of reducing poverty and improving lives, and a commitment to sustainable development.” As a result of this case, World Bank President Zoellick has suspended IFC investment in palm oil until a sector strategy is prepared. This case comes as the IFC is undertaking a three-year review of its Policy and Performance Standards on Social and Environmental Sustainability.

Please join CIEL, WRI, Forest Peoples Programme, IFC, and the CAO in a discussion about this important case.

For more information, see:

• Forest Peoples Programme

• CAO’s summary of the case

• CAO’s audit report

• Or contact Kristen Genovese, CIEL Senior Attorney, and Moderator for the event.