Sec. 5430. United States policy on international finance corporation disclosure of high and substantial risk sub-projects of financial intermediary clients
284 words·~1 min read·
/bill/117/hr/7900/pcs/section-5430·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Title XVI of the International Financial Institutions Act ( 22 U.S.C. 262p et seq. ) is amended by adding at the end the following: The Secretary of the Treasury shall instruct the United States Executive Director at the International Finance Corporation to use the voice, vote, and influence of the United States to seek the adoption at the institution of a policy to require each financial intermediary client to publicly disclose on the website of the International Finance Corporation, in searchable form, and updated annually, the following information about the Category A and B sub-projects of the client, within 6 months after the date of the enactment of this section for existing clients and, for new clients, within 6 months after the date of Board approval for new investments:
The name, city, and sector for all sub-projects. The environmental and social risk assessments and mitigation plans that have been completed for each sub-project. A summary of the Environmental and Social Management System of the client including a detailed description of policies to appropriately identify, categorize, assess, and address the environmental and social risks relevant to the activities the client is financing. A link to the full Environmental and Social Management System policy on the website of the client.
Within 6 months after the date of the enactment of this section, the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate containing— a description of the efforts by the Secretary to achieve the policy outlined in subsection (a); and a description of any opposition from management, shareholders, and clients to the adoption of the policy. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 5430
United States policy on international finance corporation disclosure of high and substantial risk sub-projects of financial intermediary clients
Cites 1Cited by 0 across 0 sources