There is now a debate about whether higher interest rates would actually improve the economy by setting a higher standard for corporate performance, and thereby driving needed consolidation and innovation, as well as rewarding savers.

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He should at least step down until the performance of KPMG in the audit of HBOS, and accounting standard setting, has been properly and independently investigated.

BBC: HBOS bosses remain under fire as Sir James resigns posts

These include using the IFCs Performance Standard 6 to guide the establishment of corporate biodiversity management systems, setting up IUCN Independent Review Panels to advise and monitor the implementation of these systems, certifying biodiversity management areas under the GDI, using the Biodiversity Offset Standard as needed, and adopting the GRI public reporting guidelines for biodiversity and ecosystem services.

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