Lessons Learned: Pangue Hydroelectric[PDF]
5 pages | © September 2008 IFC | Complimentary
In the early 1990s, IFC commenced a decade-long involvement in the Pangue Hydroelectric project in Chile. The project sparked a multitude of controversies that have greatly influenced IFC's approach to addressing environmental and social issues. Unknown to many, it was the Pangue project that catalyzed the strengthening of IFC's institutional capacity to address environmental and social issues, most notably the emergence of IFC's Environment and Social Development Department; the adoption of the Safeguard Policies and eventually the Performance Standards; the formulation of robust environmental and social project review procedures; and the establishment of the CAO Office. All these aspects have become a mainstay of IFC's business. This case study has been written for an internal audience to relate key aspects of the Pangue story from the perspective of IFC. Its purpose is to ensure that 'lessons learned' by staff who worked on the project can benefit the wider institution as IFC moves forward with its focus on sustainability.