The Conga project is not a viable way to achieve sustainable development.
The World Bank's private investment arm, the International Finance Corporation (IFC), is an equity investor in the Peruvian mining company, Minera Yanacocha. Minera Yanacocha is currently exploring plans to develop a massive gold and copper mine known as Conga in the Cajamarca region of Peru. The IFC has adopted a series of environmental and social "Performance Standards," to ensure that its investments lead to positive development outcomes. Read the full report to understand why the Conga project risks violating these standards, and threatens irreparable harm to the environment and human rights.
The IFC should defend the right of the communities to express and demonstrate opposition to the project, issue a public statement recognizing the project's unviability, and use its influence as an investor in the company to stop this project from moving forward.
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