International Financial Institutions, Environmental Standards and Foreign Direct Investment

Please join us as Harvey Himberg explores the role of financial institutions in foreign direct investment (FDI) and the implications of their role for the relationship between investment and the environment. Without legitimate and relatively functional national and supra-national regulatory mechanisms to set the "rules of the game" and arbitrate disputes, like those enjoyed by trade, how can FDI and its environmental impact be regulated? As of now, financial institutions are, by default, becoming the de facto arbiters of environmental standards for FDI. Furthermore, separate categories of public sector institutions have developed environmental policies following separate learning curves reflecting their distinct mandates. However, it is the private commercial banks and investment funds who will likely become the ultimate implementers of environmental standards and it is they who will have the task of bringing the incomplete learning curves of the public sector institutions to "full circle, " assuming they have the capacity and will to do so.

Participants

• Harvey Himberg
  Deputy Vice President, Overseas Private Investment Corporation