The watchdog organization Bretton Woods Project has issued a report that is strongly critical of the International Finance Corporation’s (IFC) new social and environmental standards for development projects, saying that they do not adequately protect indigenous rights. According to Bretton Woods, the IFC standards do not specify when local populations will be consulted about the potential impact of development projects and do not guarantee communities’ rights to free, prior, and informed consent; nor do they adequately protect the land rights of indigenous peoples. The report also finds that the new guidelines rely too heavily on companies’ self-monitoring and reporting, rather than requiring independent assessment of project impacts. "The slippage is a clear weakening of IFC’s commitment to ’do no harm,’" says David Hunter, assistant law professor at American University. "Furthermore, the new standards fail to acknowledge… U.N. norms on human rights and transnational corporations." Joining Bretton Woods in criticizing the new standards are the Bank Information Center, BothEnds, Environmental Defense, Forest Peoples Programme, Friends of the Earth, Indian Law Resource Center, and the International Accountability Project.
