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The buck's gotta stop somewhere: Report
bucks_gotta_stop_somewhere.doc
The rapid expansion of the mining industry within the Asia-Pacific is a significant threat to biodiversity and cultural survival. A shift in the financing of mining operations from multilateral development banks (MDB) to private sector financial operations has taken place, leaving private investment, lending and insurance firms with enormous influence over the minerals industry. The Mineral Policy Institute's report on social and environmental accountability in the financing of mining, The Bucks Gotta Stop Somewhere, examines the track record of Australian private financial institutions in taking responsibility for the environmental and social ramifications of the projects they support.
MPI's The Buck's Gotta Stop Somewhere is a ground breaking report exposing the absence of environmental and social policies in large private banks in Australia. Since the release of this report, Westpac Banking Australia became a founding member of the Equator Principle banks, agreeing to minimal enviromnetal and social standards. Other Australia banks have failed to sign up to these voluntary commitments.
For more information, please contact:
Igor O'Neill
Workphone: +62 21 794 1672
Mobile: +62 81 286 12 286
Created: 01 Jan 1970 | Last updated: 08 Oct 1998
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