Download Global Project Finance, Human Rights and Sustainable by Sheldon Leader, David Ong PDF

By Sheldon Leader, David Ong

This ebook seems on the confident and unwanted effects undertaking finance has on societies: for socially dependable funding as opposed to the restrictions put upon the making an investment events. The booklet takes those optimistic and unfavorable affects and attempts to marry the calls for of industrial functionality with recognize for human rights and environmental safeguard. It units out the fundamentals at the back of the finance version, observes the confident and detrimental positive factors and is going directly to examine overseas case reports. eventually, it is going directly to make proposals for reform.Review"Thanks to the wealth of data and research positioned into the contributions and the high-standard editorial coordination... [this ebook] represents crucial analyzing within the box and is, consequently, warmly recommended."- Riccardo Sciaudone, magazine of power and ordinary source LawBook DescriptionFinance, coverage and criminal views, together with human rights and sustainable improvement, are delivered to undergo on a number of case experiences with a purpose to study the theoretical and functional implications of infrastructure initiatives which are funded in the course of the undertaking finance process, which mixes deepest financing with public backing. [C:\Users\Microsoft\Documents\Calibre Library]

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Extra info for Global Project Finance, Human Rights and Sustainable Development

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10 The Johannesburg Declaration in 200211 went further in spelling out and broadening the concept of sustainable development, making reference to the ‘interdependent and mutually reinforcing pillars of sustainable development – economic development, social development and environmental protection – at the local, national, regional and global levels’. Like the Rio Declaration, it affirmed the need for poverty eradication but went further in pointing explicitly to the threat posed to global prosperity by the ‘deep fault line’ between rich and poor and the ever increasing gap between the developed and developing worlds.

Ibid. World Investment Report, Transnational Corporations, Extractive Industries and Development (New York and Geneva: UNCTAD/UN, 2007), ch. V, ‘Development Implications for Host Countries’, p. 129. 12 on Mon Oct 08 10:42:04 BST 2012. 003 Cambridge Books Online © Cambridge University Press, 2012 linkages between pf and sustainable development 33 At most the use of project finance can be considered as an additional pressure point for decisions potentially detrimental to sustainable development in situations where bargaining power is unequal or host governments are poorly informed or lack negotiating capacity.

As well as increasing disclosure and hence public scrutiny, another likely effect of the project finance contractual arrangements is to broaden the range of risks addressed. In theory, the non-recourse nature of the loans means that there is greater attention to risks and more extensive due diligence94 undertaken by the lenders than for other types of finance. But the inclusion of social and environmental factors in the risk assessment has not been automatic. It has taken some bad experiences with controversial projects for financial institutions to recognize that certain factors, such as impacts on environment and societies in which the projects are located, could represent serious risks to their financial exposure and therefore should be an integral part of due diligence.

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