Guidelines For Next Generation Of Environmen...( ays to attract foreigninvestment into ...)

Guidelines For Next Generation Of Environmental Policy

ays to attract foreign investment into water and sewage infrastructures, and into industrial pollution controls.

Redefining the World Bank's development role to get it out of the business of funding big projects such as dams and power plants. Instead the World Bank's central mission should be to do what national governments will not: underwrite prevention and control of transboundary pollution.

"This would mean, for example, that the World Bank would help the Chinese build high-efficiency electric generating stations with appropriate smokestack controls to replace polluting coal power plants," says Professor Esty. He adds that the Multilateral Agreement on Investment, now under negotiation in Paris by the Organization of Economic Cooperation and Development, offers mechanisms to support global capital investments, if environmental guidelines are added.

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Note to Editors: Major project support has come from the Avina Foundation, the Bechtel Foundation of the United States, Geraldine R. Dodge Foundation, GE Fund, German Marshall Fund, Hughes Foundation and the McKnight Foundation. For more information, contact project administrator Janet Testa at (203) 432-6197. E-mail her at janet.testa@yale.edu or consult the web site at http://www.yale.edu/nextgen.

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Contact: Cynthia Atwood
Cynthia.Atwood@yale.edu
203-432-1326
Yale University
18-Dec-1997

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