Conakry, Guinea, June 8, 2016—IFC, a
member of the World Bank Group, today signaled its growing support for
solutions in Guinea to protect biodiversity as the country expands its
mining sector. Working with the Guinean government, which today is hosting
the Biodiversity Responsible Mining Roundtable, IFC aims to help mining
investors adopt best practices and develop viable approaches to protecting
biodiversity as they expand and spur further growth and development in
“Guinea has abundant mining, agricultural,
and hydropower resources that are being explored alongside rich biodiversity,”
said Seynabou Ba, IFC Head of the Environment and Social Department in
Africa. “IFC will bring together a coalition of stakeholders to identify
approaches to addressing biodiversity issues at a landscape level rather
than simply focusing on individual projects.” IFC’s Sustainability
Framework and Performance Standards guide companies in this process.
Today’s Roundtable will explore the effects
of mining on terrestrial and marine biodiversity, and ecosystem services.
Solutions for the private sector and the government are being considered.
“The Government of Guinea is committed to
extracting our mineral resources to meet our development goals while safeguarding
our environment,” said Abdoulaye Magassouba, Minister of Mines and Geology.
“This Roundtable offers an excellent opportunity to work with different
stakeholders to raise awareness of established global practices that are
effective in taking into account the impacts of mining activity and protecting
IFC is investing in the mining sector in
Guinea and is ensuring that projects in which it invests
are developed in compliance with the IFC’s
Performance Standards intended to safeguard biodiversity and to maximize
benefits to communities and the local economy. IFC’s involvement in the
Roundtable is part of IFC’s enhanced client support program, which aims
to address constraints that can derail or hinder an investment by a single
client or group of clients.
Solutions often require the collaboration
across multiple stakeholders. The Roundtable is intended to provide a platform
for the Guinean government, donors, the private sector, and civil society
to explore opportunities to improve management of biodiversity risks. Participants
will share perspectives on possible the roles, responsibilities, and capacity
of different stakeholders, and to explore possible partnerships and areas
of collaboration to support the sustainability of ecosystems.
The Biodiversity Roundtable builds on World
Bank Group programs to improve governance in the mining sector, and transparency
of the public sector in Guinea
IFC, a member of the World Bank Group, is
the largest global development institution focused on the private sector
in emerging markets. Working with more than 2,000 businesses worldwide,
we use our capital, expertise, and influence, to create opportunity where
it’s needed most. In FY15, our long-term investments in developing countries
rose to nearly $18 billion, helping the private sector play an essential
role in the global effort to end extreme poverty and boost shared prosperity.
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