Safeguards are powerful tools that help analysts to identify risk, help to reduce development costs and improve sustainability for projects.
Because sustainable development is important to the Bank and its members, especially protecting livelihoods and the environment, safeguards play a critical role in sustainable development. In December 2013 the Bank unanimously adopted the Integrated Safeguards System (ISS), which is the cornerstone of its strategy to promote growth that is socially inclusive and environmentally sustainable. This, in turn, fully supports the Bank’s Ten Year Strategy 2013-2022.
The ISS promotes best practices and also encourages greater transparency and accountability. It provides a process for the people, especially the most vulnerable communities, to express their views by providing project-level grievance and redress mechanisms.
The Bank’s ISS has been developed through extensive consultations. In particular, five regional workshops—in Nairobi, Lusaka, Libreville, Abuja and Rabat—provided the Bank with an opportunity to listen to and address concerns raised by various stakeholders, including civil society.
“Integrated Safeguards System” is the first publication in our series on Safeguards and Sustainability.