BANKS DODGY DEALS CAMPAIGNS
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate
Banks and Human Rights
Banks and Nature
Our projects
Tracking the NZBA
Banks and Russia
Banks and Steel
Tracking the Equator Principles
Tracking the PRBs
Find a Better Bank
Banks and the OECD Guidelines
Media
News Publications
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Visit us
Successes Contact BankTrack
Donate Mailing list Facebook Twitter Linkedin Login
Home › BankTrack news ›
BankTrack News

NGO Briefing on Independent Complaints Mechanism of FMO and DEG

2014-02-17 | The Hague
By: BankTrack, Both ENDS, SOMO, Amnesty International
Contact:

Anouk Franck, Both ENDS,  Kris Genovese, SOMO. 

Protest against the financiers (among them FMO) of the Agua Zarca Dam project. Photo: COPINH
2014-02-17 | The Hague
By: BankTrack, Both ENDS, SOMO, Amnesty International
Contact:

Anouk Franck, Both ENDS,  Kris Genovese, SOMO. 

The Dutch development bank, FMO, together with the German Entrepreneurial Development Cooperation (DEG), has become the first European Development Finance Institution and the first Equator Principles Financial Institution to introduce an Independent Complaints Mechanism. 

Amnesty International, BankTrack, Both ENDS and SOMO engaged in the limited consultation process that was organized in the Netherlands by FMO, which led to this mechanism. There was no similar consultation in Germany, nor has DEG announced the availability of the Mechanism. 

While this mechanism is not perfect, it presents an important step in ensuring that project affected people can hold FMO accountable to its policies. As FMO has adopted the Equator Principles the establishment of FMO's Mechanism also sets an important precedent for other Equator Principle Financial Institutions, which so far have categorically refused to establish an accountability mechanism as part of the Equator Principles governance system.

We further support FMO's invitation to other European DFIs to join them in their commitment to redress any harm caused by their investments through the establishment of, or linking themselves to, this mechanism. 

Establishing a mechanism is one thing. The proof of the pudding, as always, is in the eating. Please get in touch with us if you or a community you work with has been adversely affected by a project financed by the FMO or DEG. We from our side will seek to ensure that the Mechanism gets tested and improved. We will keep pushing for greater public participation and transparency in future reviews of the Mechanism.

The attached briefing presents our view on the final outcome of this process.

Banks

FMO

Netherlands
Active
Sections
Banks Dodgy Deals Campaigns
Our campaigns
Banks and Climate Banks and Human Rights Banks and Nature
Our projects
Tracking the NZBA Banks and Russia Banks and Steel Tracking the Equator Principles Tracking the PRBs Find a Better Bank Banks and the OECD Guidelines
Media
News Publications
Raiffeisen Out! Bank.Green End Coal Finance Plastic Banks Tracker Defund TotalEnergies Financial Exclusions Tracker Equator-Complaints.Org Don't Buy into Occupation Banks & Biodiversity Forests & Finance Drop JBS StopEACOP Fossil-Free Finance
BankTrack
About BankTrack Organisation Our team Our board Our annual reports Funding and finances Guiding principles Our history BankTrack in the media Team up with us Our privacy policy Donate Visit us
Successes Contact BankTrack
Vismarkt 15
6511 VJ Nijmegen
The Netherlands
Contact@banktrack.org
Donate Mailing list Facebook Twitter Linkedin
©2023 BankTrack
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted