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Article

3 Jul 2012

Author:
Bretton Woods Project

No IFC audit despite new Peru oil spill

In May, the Compliance Advisor/Ombudsman (CAO), the accountability mechanism of the International Finance Corporation (IFC, the Bank's private sector arm), closed the Maple Energy case…as it "does not merit an audit of IFC", despite a new oil spill by the company being reported in April. The CAO case was initiated after two indigenous communities from nearby the IFC-funded company's oil producing site in Peru filed a complaint in 2010 that oil spills from the Maple Energy operations had caused numerous social, environmental and health issues…

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