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Financing for a Sustainable Future:Analysing the Role of Multilateral Development Banks in an Evolutionary Environmental Law Regime
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This paper attempts to outline the role of MDBs (Multi-lateral Development Banks) in supporting developmental funding activities within an evolutionary environmental law regime. Since the World Bank is seen to have a sustained presence in climate-related finance, its role has been analysed through its principal of funding, climate funds. In this context, our objective in the study was to address three main issues: first, MDBs role in integrating environmental considerations into multilateral funding activities with particular reference to the World Bank’s functions; second, the treatment of environment protection standards under MDBs’ development lending process and under climate-related funds; and third, examining the scope of independent complaints mechanisms with the help of some brief case studies (two of them of). In other words, the objective of the analysis was to draw insights from the experience of MDBs, more specifically, the World Bank, to serve as useful lessons for the climate finance regime in future.
Keywords
Multi-Lateral Development Banks, Environmental Law Regime, Climate Related Finance, Environment Protection Standards, Independent Complaints Mechanism.
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