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Renewable energy investors face financial risks if they do not address human rights issues, finds new report
Author: Robin Hicks, Eco-business.com, Published on: 3 May 2017
"Renewable energy faces growing human rights concerns," 3 May, 2017
[A new] study, by Business & Human Rights Resource Centre…documents how renewables firms, particularly in developing countries, are failing to meet international standards for engaging with the local communities where mainly wind and hydropower projects are being implemented. The report highlights cases of illegal land-grabbing, intimidation and violence, while the large majority of those featured in the research admitted to failing to meet basic rules of engagement around free, prior and informed consent (FPIC)...The report suggested that renewables projects are running into similar problems faced by the extractive industry because both involve the large scale use of land...These include operational delays, legal costs and reputational risks, which are likely to mean lower financial returns for investors, as well as increased operational and capital expenditure, the report noted...