Latest Post:
Nobel Prize-Winning Economist Joseph Stiglitz and Others Urge the US Supreme Court to Review World Bank Group Immunity in the Tata Mundra Finance Case.
Read the full Press Release here.
US Federal Court Rules in Favour of IFC in Tata Mundra Case – Download judgment
Earlier Posts:
Historic Supreme Court Win: World Bank Group Is Not Above The Law
In a historic 7-1 decision, the U.S. Supreme Court decided in Jam v. IFC that international organizations like the International Finance Corporation of the World Bank Group do not enjoy absolute immunity.
The Court’s decision marks a defining moment for the IFC – the arm of the World Bank Group that lends to the private sector. For years, the IFC has operated as if it were “above the law,” at times pursuing reckless lending projects that inflicted serious human rights abuses on local communities, and then leaving the communities to fend for themselves.
Press Release: Historic Supreme Court Win: WB Group Is Not Above The Law
Analysis of the Judgement
The Supreme Court Rules in Jam v. International Finance Corporation (Lawfareblog.com)
Opinion analysis: Justices hold that international organizations do not have near-complete immunity (Scotusblog.com)
Wake Up World Bank (Down To Earth)
US Supreme Court Construes Scope of Immunities in Jam (Lexology.com)
No Longer Above The Law, The World Bank Faces Fight Of Its Life (International Consortium of Investigative Journalists)
The World Bank Must Clean up its Act (Nature)
Jam v. IFC – What does it mean for Accountability? (Green Climate Fund)
The US Supreme Court Judgment: A Challenge to World Bank’s unfettered immunity (Committee for the Abolition of Illegitimate Debt)
US Supreme Court rules against the World Bank’s claim of absolute immunity (Brettonwoodsproject.org)
Lifting The Veil On Legal Immunity To Multilateral Institution (Business Standard)
How IFC Is Dealing With Pressure To Boost Accountability (Devex)
The World Bank’s legacy of environmental destruction: a case study (Open Democracy)
Coal-Ravaged Indian Fishers Take to the Supreme Court (Sierra Magazine)
Media Coverage of the Ruling
Gujarat Farmers Win The First Round Against World Bank (Bloomberg Quint)
No Absolute Immunity For World Bank Affiliate: US Supreme Court (Down To Earth)
World Bank Affiliate Is Not Shielded From All Legal Action, Supreme Court Rules (Washington Post)
US Supreme Court Revives India Power Plant Lawsuit (MoneyControl.com)
World Bank’s Legal Immunity Stripped, Opening Door for Lawsuits (International Consortium of Investigative Journalists)
अमेरिकी सुप्रीम कोर्ट में मुंद्रा के मछुआरों के एक संगठन ने कैसे विश्व बैंक को दिखा दी औकात (Mediavigil.com)
US Supreme Court Order “Clears Way” To File Case On IFC Funding Of Tata Mundra Plant (Counterview.net)
Calls for Stronger Accountability After IFC Supreme Court Ruling (Devex)
What does the US Supreme Court’s decision on IFC impunity mean for Indian fishermen? (Business and Human Rights Resource Centre)
Gujarat Fishermen’s Landmark Victory in US Supreme Court Goes Unreported in Indian Media (The Wire)
IFC’s kettle of fish (The Statesman)
How Gujarat Fishermen Won US Top Court Ruling Against Global Funding Agency (Indian Express)
U.S. Supreme Court Rules That World Bank Can Be Sued (Npr.org)
विश्वबैंक जैसे अंतरराष्ट्रीय संगठनों से टकराते जनांदोलन (सुबह सवेरे)
Gujarat’s Mundra Fisherfolk Prepare For Long Battle (Hindustan Times)
Photos: Tata Mundra
Tata Mundra UMPP(CGPL)
Coastal Gujarat Power Limited (―CGPL or the ―company) will build, own and operate a 4,000MW (5 units of 800 MW each) ultra mega‘ supercritical technology based power plant at the port city of Mundra in the Kutch district of Gujarat, India (the ―project). CGPL is sponsored by Tata Power Company Limited (―Tata Power) who owns 100 per cent of CGPL. In May 2011, CGPL announced the successful completion of the steam blowing process at Unit 1. The four remaining units will be commissioned at subsequent intervals of four months each. The total project cost is estimated at about US$4.14 billion. IFC invested $450 million of its own capital in this project, which IFC has classified as a category A project, signifying that IFC believes there are potentially significant adverse social and environmental impacts that may be diverse or irreversible.
Financiers: A consortium of Banks including multilateral agencies and Exim Banks invests in this project which costs the US $4.14billion. Financing comprises of the equity of INR 42.50 billion, External Commercial Borrowings (ECB) of up to USD 1.8 billion and Rupee Loans of up to INR 55.50 billion. The ECBs include the International Finance Corporation, the Export‐Import Bank of Korea, Korea Export Insurance Corporation, the Asian Development Bank and BNP Paribas. National financial institutions (FIs) involved are SBI, the India Infrastructure Finance Company Ltd., Housing and Urban Development Corporation Ltd., Oriental Bank of Commerce, Vijaya Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and State Bank of Indore.
Challenging IFC’s immunity in US Federal Court:
In 2015, Fishing communities and farmers from India filed a suit against the International Finance Corporation (IFC), the private lending arm of the World Bank Group, in federal court in Washington, D.C. In the suit, titled Jam v. IFC, the fish workers alleged that the IFC caused the loss of their livelihoods, destroyed their lands and water, and created threats to their health by funding the Tata Mundra coal-fired power plant in Gujarat, India. Earths Rights International is representing the fish workers community.
Engagement with Accountability Mechanisms:
Compliance Advisor Ombudsman:
Compliance Review Panel:
Assessments:
Other Publications:
Landmark corporate accountability case resulted in critical reforms for the World Bank’s lending arm. April 26, 2022 New Delhi: Last evening India time, the U.S. Supreme Court denied a petition from a fishing community...
This week, prominent economic, legal, diplomatic, and civil society experts – including Joseph Stiglitz, a Nobel Prize-winning economist, and former Vice President and Chief Economist of the World Bank – submitted amicus briefs urging...
The northern coast of the Gulf of Kutch has been witnessing large-scale industrialization for the past two decades while a very large Special Economic Zone is also situated in the vicinity. Among several polluting...
The Tata group, one of India’s largest conglomerates, promised to be a good neighbor when it took on the job of building the nation’s first “ultra mega” coal-fired power plant. The plan was to build...
On August 24 evening, a federal court ruled that the World Bank Group cannot be sued for any damage caused by its lending–despite last year’s Supreme Court ruling in the same case that these...
On February 27, a year has passed since the Supreme Court of the United States ruled in a 7-1 judgment that World Bank does not enjoy absolute immunity. The judgment shook the foundations of...
A year back, on February 27 2019, in a landmark judgment, the Supreme Court of the United States ruled that the World Bank is not above the law. For details and more information: https://www.cenfa.org/projects-in-focus/tata-mundra-ultra-mega-project/
Press Statement | February 19, 2020 US Federal Court Rules in Favour of IFC in Tata Mundra Case: Fishworkers and Farmers to Challenge Decision. IFC hides it shame & guilt behind technicalities of jurisdiction...
Mundra, Gujarat January 13, 2020: TATA power has announced to the Union Ministry of Power that it may be forced to stop operating its imported coal-based Mundra ultra-mega power project after February, 2020. Experts...
Statement in response to news reports that the company has written to the Ministry of Power that they will stop operating the Mundra project from February 2020. Mundra, Gujarat January 13, 2020: Tata power...
Almost a decade after the construction for the Tata Mundra Ultra Mega Power Project and eight years since the operations of the project started, a revisit to Mundra tells the story of the destruction...
Machimar Adhikaar Sangharsh Sangathan (MASS) and Centre for Financial Accountability (CFA) get Chico Mendes Award 2019 Statement by CFA It’s an honour to be selected for the Chico Mendes Award 2019, shared with Machimar...
On February 27, 2019, the US Supreme Court in a 7-1 decision ruled that international organisations like the International Finance Corporation (IFC), a private-lending arm of the World Bank Group, do not enjoy absolute...
In its historic decision on 27th Feb 2019, the U.S. Supreme Court decided that international organizations like the World Bank Group “don’t enjoy absolute immunity”. Simply put, with this judgement, the World Bank and...
This February, in a landmark decision, the US Supreme Court ruled that financial institutions like the World Bank’s International Finance Corporation (IFC) are not immune from the law of land, and can be held...