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UNDRIP Report - English FINAL - International Forum on Globalization

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for progress <strong>on</strong> human rights, if you really have a<br />

focused campaign,” he said.<br />

Daphne Wysham of the Institute for Policy Studies’<br />

Sustainable Energy and Ec<strong>on</strong>omy Network<br />

commented <strong>on</strong> Chad Dobs<strong>on</strong>’s point that the carb<strong>on</strong><br />

investment funds are minor compared to the energy<br />

allocati<strong>on</strong> in terms of the World Bank’s budget. “If<br />

the World Bank gets its way, and gets ahold of the<br />

climate investment funds and adaptati<strong>on</strong> funds,<br />

potentially, hundreds of billi<strong>on</strong>s of dollars will be<br />

going toward the World Bank and its offshoots,” she<br />

said. Wysham suggested keeping a careful eye <strong>on</strong><br />

what the World Bank is doing with carb<strong>on</strong><br />

investment funds.<br />

Wysham said, “In regard to REDD and CDM, there<br />

are divisi<strong>on</strong>s within the envir<strong>on</strong>mental and<br />

indigenous communities— some people think this is<br />

the right thing to do and some people d<strong>on</strong>’t. I think<br />

what we haven’t d<strong>on</strong>e well is educate our own<br />

friends and allies in the envir<strong>on</strong>mental and<br />

indigenous communities <strong>on</strong> all of the problems<br />

associated with these projects.” Wysham urged that<br />

this happen quickly, because a lot of the projects are<br />

moving forward very fast. She added that currently<br />

there is a campaign <strong>on</strong> whistle blower rights within<br />

the IFIs, and suggested that we should support it so<br />

we can get more people to speak out <strong>on</strong> all the<br />

problematic projects in the World Bank.<br />

Victor Menotti of the IFG pointed to private capital<br />

as the major force that needs to be held accountable<br />

to <str<strong>on</strong>g>UNDRIP</str<strong>on</strong>g>, yet there is no clear policy arena for<br />

governing global finance where <str<strong>on</strong>g>UNDRIP</str<strong>on</strong>g> might be<br />

introduced. He noted that the three goals of the<br />

November 2008 G-20 meeting in Washingt<strong>on</strong> would<br />

be to: 1) get c<strong>on</strong>sensus <strong>on</strong> the causes of the current<br />

crisis; 2) assess the effectiveness of various bailout<br />

packages; and 3) agree <strong>on</strong> principles for reforming<br />

the financial system. He suggested the Bank for<br />

<str<strong>on</strong>g>Internati<strong>on</strong>al</str<strong>on</strong>g> Settlements (BIS) and the Financial<br />

Stability <str<strong>on</strong>g>Forum</str<strong>on</strong>g> — global bodies that coordinate<br />

nati<strong>on</strong>al regulati<strong>on</strong> of finance—as the two main<br />

venues to target. One entry point for <str<strong>on</strong>g>UNDRIP</str<strong>on</strong>g> could<br />

be to explore how these bodies are rethinking the<br />

many c<strong>on</strong>siderati<strong>on</strong>s that must be calculated when<br />

investors are assessing risk, so that they recognize<br />

land rights, prior informed c<strong>on</strong>sent, and other<br />

<str<strong>on</strong>g>UNDRIP</str<strong>on</strong>g> principles. Ignoring indigenous rights is<br />

becoming an increasingly significant risk for<br />

investors, so that may be a way to codify these<br />

c<strong>on</strong>siderati<strong>on</strong>s.<br />

Athena Ballesteros of the World Resources Institute<br />

agreed that the climate investment funds are<br />

currently “just a drop in the bucket” in terms of the<br />

overall investments of the World Bank and its pledge<br />

of $6.1 billi<strong>on</strong>. “This gives us a space to expose the<br />

hypocrisy of the World Bank, in terms of it<br />

positi<strong>on</strong>ing itself as a climate bank,” she pointed out.<br />

Ballesteros suggested working with the World<br />

Wildlife Fund in Beijing, as well as the Chinese<br />

Academy for Envir<strong>on</strong>mental Planners, to engage civil<br />

society and to craft or review the safeguard policies<br />

of Chinese overseas investments. “It’s a very<br />

sensitive partnership, but I think it is worth trying,<br />

and I think menti<strong>on</strong>ing FPIC and <str<strong>on</strong>g>UNDRIP</str<strong>on</strong>g> would be<br />

worth it,” she said. She also added that this might be<br />

useful as well as a way to influence the Japan Bank<br />

for <str<strong>on</strong>g>Internati<strong>on</strong>al</str<strong>on</strong>g> Cooperati<strong>on</strong> (formerly The Export-<br />

Import Bank of Japan). “The Japanese portfolio is<br />

scary, combined with the World Bank and the Asian<br />

Development Bank portfolio. They spend so much <strong>on</strong><br />

nuclear, fossil fuels, hydro, logging, mining and<br />

anything and everything that was referred to at the<br />

beginning. Japanese NGOs can exert very little<br />

influence <strong>on</strong> these instituti<strong>on</strong>s,” Ballesteros argued.<br />

Ballesteros highlighted two upcoming opportunities.<br />

The first is that the <str<strong>on</strong>g>Internati<strong>on</strong>al</str<strong>on</strong>g> Finance<br />

Corporati<strong>on</strong>’s Performance Standards is up for<br />

review in 2009, and the sec<strong>on</strong>d is that the Asian<br />

Development Bank’s safeguard policy particularly<br />

because its indigenous peoples’ policy and its<br />

involuntary recipient policy are up for review.<br />

Victoria Tauli-Corpuz reflected <strong>on</strong> the fact that the<br />

many people she has talked to about REDD are<br />

unsure about how to go about it. “We should come<br />

up with a design that will feed the needs and rights<br />

of indigenous peoples, and that is precisely why we<br />

are holding these global and Far East meetings where<br />

we are bringing the UN REDD people, the Secretariat<br />

of the C<strong>on</strong>venti<strong>on</strong> <strong>on</strong> Biodiversity, and indigenous<br />

peoples from all the affected countries that are<br />

c<strong>on</strong>sidered REDD countries. We are trying to come<br />

up with the elements that we think should be the<br />

guideposts for the REDD strategy,” she said. She<br />

raised the questi<strong>on</strong> of how to go about shaping<br />

REDD so that it is meaningful for indigenous<br />

peoples. “If it is not meaningful, what kind of<br />

campaigns can we mount to reject the idea?” she<br />

19

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