Management Response to the Final Report of the Independent Advisory Group on Sustainability: From Managing Risks to Embracing New Opportunities
The IAG presented its Final Report to the Committee of the Whole and to the Management in February 2011. The report concluded that the environmental and social safeguards provided for in the Environment and Safeguard Compliance Policy were adequate. However the report recommended a number of additional measures in order to strengthen the Bank's capacity to meet the commitments of IDB-9 and maintain a leadership role in the region. These recommendations mainly seek to mainstream sustainability considerations in the Bank's work and ensure better effectiveness in the implementation of the safeguards. In response to the recommendations included in the report, Management created an internal working group to determine, with the benefit of independent expertise, the best way to incorporate appropriate activities for this purpose. This document presents the working group's response to the recommendations of the report. Following a summary of the IAG Sustainability report, this document describes the mandate and work of the IDB Working Group on Sustainability and presents the action plan and implementation strategy developed by the Working Group.