Sec. 6. Safeguards and accountability
180 words·~1 min read·
/bill/118/s/3207/is/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Foundation shall develop, and incorporate into any agreement for support provided by the Foundation, appropriate safeguards, policies, and guidelines, consistent with internationally recognized best practices and standards for environmental and social safeguards. The Foundation shall establish a transparent and independent accountability mechanism, which shall provide— a compliance review function that assesses whether Foundation-supported projects adhere to the requirements developed pursuant to subsection (a); a dispute resolution function for resolving concerns between project implementers regarding the impacts of specific Foundation-supported projects with respect to such standards; and an advisory function that reports to the Foundation on projects, policies, and practices.
The accountability mechanism established pursuant to paragraph
(1)shall— report annually to the Board and to the appropriate congressional committees regarding the Foundation’s compliance with internationally recognized best practices and standards in accordance with paragraph (1)(A); have permanent staff to conduct compliance reviews and dispute resolutions; or maintain a roster of experts to serve such roles, to the extent needed; and hold a public comment period lasting not fewer than 60 days regarding the initial design of the accountability mechanism.