Impact of financial institution environmental guidelines on international power generation projects
- Westinghouse Electric Corp., Orlando, FL (United States)
Where financing is concerned, two major players for US based international power projects are The World Bank and the Export-Import Bank of the US (Ex-Im Bank). The concern for environmental protection is a global issue, yet many countries still have no enforceable environmental regulations for power generation facilities. In the past, many projects were developed with little or no environmental controls. However, designing a power generation project to meet The World Bank environmental guidelines is now generally regarded as standard practice for independent power projects in the developing world (Price et al, 1994). The World Bank standards are mandatory for projects financed by The World Bank, through the International Finance Corporation (IFC), or associated programs like the Expanded Cofinancing Program of the International Bank for Reconstruction and Development (IBRD). The Ex-Im Bank has recently established new environmental procedures and guidelines that went into effect on February 1, 1995. In order to avoid a competitive disadvantage for US exporters and still provide a means for global environmental protection, Ex-Im Bank has taken a leadership role in encouraging the adoption of common environmental procedures and standards by leading export credit agencies around the world. Until such procedures are established, Ex-Im Bank is seeking to establish common lines in specific cases with the Organization for Economic Cooperation and Development (OECD) on environmental standards for appropriate projects (Ex-Im, 1994).
- OSTI ID:
- 94213
- Report Number(s):
- CONF-950414--
- Country of Publication:
- United States
- Language:
- English
Similar Records
The impacts of the 1995 financial institution environmental guidelines on power projects
Government chartered banks step up oil and gas lending