Global Project Finance, Human Rights and Sustainable Development

What are the implications of project finance for human rights and sustainable development?

Sheldon Leader (Edited by), David Ong (Edited by)

9781107658516, Cambridge University Press

Paperback / softback, published 19 September 2013

534 pages, 4 b/w illus. 8 tables
22.9 x 15.2 x 3 cm, 0.78 kg

'Thanks to the wealth of information and analysis put into the contributions and the high standard [of] editorial coordination, which has avoided the usual problems of collective works, Global Project Finance, Human Rights and Sustainable Development represents essential reading in the field and is, therefore, warmly recommended.' Riccardo Sciaudone, Journal of Energy and Natural Resource Law

Many infrastructure projects around the world are funded through the project finance method, which combines private financing with public sector backing from multilateral finance institutions such as the World Bank. This examination of the theoretical and practical implications of such funding begins with a discussion of the relationship between the financial structuring of these projects and finance, policy and legal disciplines, especially in the form of investment law, human rights and environmental law. A number of case studies are then examined to provide practical insights into the application (or otherwise) of human rights and sustainable development objectives within such projects. While these theoretical perspectives do not conclude that the project finance method detracts from the application or implementation of human rights and sustainable development objectives, they do highlight the potential for the prioritisation of investment returns at the expense of human rights and environmental protection standards.

Part I. The Framework: 1. An introduction to the issues Sheldon Leader
2. The linkages between project finance and sustainable development Annie Dufey and Maryanne Grieg-Gran
3. Project finance and the relevant human rights Ozgur Can Kahale
4. Applying international environmental principles within project-financed transnational investment agreements David M. Ong
Part II. Special Topics: 5. Risk management, project finance, and rights-based development Sheldon Leader
6. Freezing the balancing act?: Project finance, legal tools to manage regulatory risk, and sustainable development Lorenzo Cotula
7. Human rights impact assessments and project finance Tamara Wiher
8. Project finance investments and political risk: an empirical investigation Claudia Girardone and Stuart Snaith
9. Insurance as a risk management tool: a mitigator or an aggravant? Rasmiya Kazimova
10. Irreparable damages, project finance and access to remedies by third parties Judith Schönsteiner
Part III. Case Studies: 11. The implications of the Chad-Cameroon and Sakhalin transnational investment agreements for the application of international environmental principles David M. Ong
12. The human rights and sustainable development implications of the project finance arrangements for the Baku-Tbilisi-Ceyhan (BTC) pipeline project Annie Dufey with contribution from Rasmiya Kazimova
13. The Orion and CMB pulp plants in Uruguay Annie Dufey with contribution from Diana Morales
14. The Newmont and Anglogold mining projects Nii Ashie Kotey and Poku Adusei
15. Overview and recommendations Sheldon Leader and Rasmiya Kazimova.

Subject Areas: Banking law [LNPB], Private international law & conflict of laws [LBG], International human rights law [LBBR], International finance [KCLF], Human rights [JPVH]