{"id":32878,"date":"2015-04-30T16:00:00","date_gmt":"2015-04-30T16:00:00","guid":{"rendered":""},"modified":"2020-11-11T16:20:30","modified_gmt":"2020-11-11T16:20:30","slug":"7878-civil-society-call-for-china-led-development-bank-to-foster-green-growth","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/business\/7878-civil-society-call-for-china-led-development-bank-to-foster-green-growth\/","title":{"rendered":"Civil society call for China-led development bank to foster green growth"},"content":{"rendered":"<p>The&nbsp;<a href=\"https:\/\/www.chinadialogue.net\/article\/show\/single\/en\/7591-Growing-business-commitment-to-low-carbon-growth-is-a-bright-spot-at-UN-talks-in-Lima\">AIIB<\/a>, touted as a rival to multilateral banks led by countries such as the US, EU countries and Japan, should enshrine strong safeguards to protect both people and the environment, a coalition of around 250 non-governmental organisations said in a letter to the bank&rsquo;s head.<\/p>\n<p>In an open letter to Jin Liqun, Secretary-General of the AIIB, the NGOs said they hoped &ldquo;robust social and environmental standards will be applied in the principles, policies and actual operations of the&nbsp;<a>AIIB<\/a>,&rdquo; amid uncertainty about how green the lending criteria will be for the China-led bank.<\/p>\n<div>The danger is that a new bank will pay too much attention to the returns on its investments, rather than social and environmental impacts, Yu Xiaogang, head of Chinese NGO Green Watershed, told&nbsp;<i>chinadialogue.<\/i><\/div>\n<div>&nbsp;<\/div>\n<div>The AIIB is expected to announce more about its policies and rules in June.<\/div>\n<div>&nbsp;<\/div>\n<div>The letter calls for the AIIB to respect local cultures, faiths and knowledge; protect the local environment and biodiversity; and to ensure lending decisions are transparent.<\/div>\n<div>&nbsp;<\/div>\n<div>Analysts say that new infrastructure such as new roads, railways and power plants are the most likely to spark social and environmental disputes.<\/div>\n<div>&nbsp;<\/div>\n<div>But if nations with high standards can stick to them, problems could be averted. Michael Clauss, Germany&#8217;s ambassador to China, told media that &ldquo;the AIIB will operate according to high standards. If its environmental standards weren&rsquo;t the same as Germany&rsquo;s we wouldn&rsquo;t have become a founding member.&rdquo;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The newly-launched, and China-led, Asia Infrastructure and Investment Bank (AIIB) needs to act transparently and help the environment and vulnerable populations, says a coalition of NGOs<\/p>\n","protected":false},"author":1281,"featured_media":57941,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_has_post_settings":[],"footnotes":""},"categories":[758],"tags":[504,511,556,580],"hashtags":[],"country":[],"class_list":["post-32878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-aiib","tag-biodiversity","tag-infrastructure","tag-policy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.0) - 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