In preparing the IFC's 2009 Annual Report, we drew on the principles of the Global Reporting Initiative (G3 Guidelines and Financial Services Sector Supplements) to help us improve our reporting and conform to international best practice.
The following index indicates the location of information relevant to applicable GRI standard disclosures and performance indicators. Key sections include:
 | GRI Indicator | Location |
| Strategy and Analysis | |
| 1.1 | Statement from CEO | AR pgs 19-20 |
| 1.2 | Description of key impacts, risks, and opportunities | AR pgs 21-101 |
| | Organization Profile | |
| 2.1 | Name of organization | IFC (International Finance Corporation) |
| 2.2 | Primary brands, products, and services | AR pgs 36-39, 112 |
| 2.3 | Operational structure | www.ifc.org/about |
| 2.4 | Location of organization's headquarters | Washington, D.C. (USA) |
| 2.5 | Countries of operation | www.ifc.org/about |
| 2.6 | Nature of ownership | AR pg 106
www.ifc.org/about |
| 2.7 | Markets served | AR pgs 14-15
www.ifc.org/about |
| 2.8 | Scale of organization | AR pgs 104-105
www.ifc.org/about |
| 2.9 | Significant changes during the reporting period regarding size, structure, or ownership | There were no significant changes during this reporting period. |
| 2.10 | Awards received in the reporting period | As a multilateral development institution, IFC promotes excellence in the markets where it operates. The good work of the Corporation is recognized from time to time through awards to individual staff and projects. This is not tracked or reported in a systematic way. |
| Report profile | |
| 3.1 | Reporting period | 1 July 2008 – 30 June 2009 |
| 3.2 | Date of most recent previous report | October 2008 |
| 3.3 | Reporting cycle | Annual |
| 3.4 | Contact point for questions regarding the report or its contents | www.ifc.org/contacts |
| Report Scope and Boundary | |
| 3.5 | Process for defining report content | The scope of the report is defined by IFC's Management Group and Board of Directors in line with international reporting standards. |
| 3.6 | Boundary of the report | IFC's Annual Report combines reporting on the Corporation's financial performance, development effectiveness, sustainability, and donor-funded advisory services. It also includes information regarding governance, corporate strategy, operations, and workplace. |
| 3.7 | State any specific limitations on the scope or boundary of the report | IFC does not report on the performance of individual investments in its portfolio. Descriptions of individual investments can be found at www.ifc.org/disclosure |
| 3.8 | Basis for reporting on joint ventures, subsidiaries, leased facilities, outsourced operations, and other entities that can significantly affect comparability from period to period and/or between organizations | AR pgs 53, 112-113 and Financial Statements
www.ifc.org/disclosure
www.ifc.org/footprint |
| 3.9 | Data measurement techniques and the bases of calculations | AR pg xx and www.ifc.org/results
www.ifc.org/footprint |
| 3.10 | Explanation of re-statements of information | There were no restatements of information in FY09. |
| 3.11 | Significant changes from previous reporting periods in the scope, boundary, or measurement methods applied in the report | There are no changes to report in FY09. |
| 3.12 | Table identifying the location of the Standard Disclosures in the report | See GRI index at www.ifc.org/annualreport |
| Assurance | |
| 3.13 | Policy and current practice with regard to seeking external assurance for the report | AR pg 129 |
| Governance | |
| 4.1 | Governance structure of the organization | www.ifc.org/about |
| 4.2 | Chair of highest governance body is also an executive officer | www.ifc.org/about |
| 4.3 | Number of members of the highest governance body that are independent and/or non-executive members | See "IFC Articles of Agreement, Article IV" |
| 4.4 | Mechanisms for shareholders and employees to provide recommendations or direction to the highest governance body | See "IFC Articles of Agreement"
The World Bank Group Staff Association represents and protects the rights and interests of World Bank Group staff to Management and the Board of Directors. |
| 4.5 | Linkage between compensation for members of the highest governance body, senior managers, and executives and the organization’s performance | AR pgs 106-107 |
| 4.6 | Processes in place for the highest governance body to ensure conflicts of interest are avoided | See Code of Conduct for Board Officials, November 2007
and www.worldbank.org/ethics |
| 4.7 | Process for determining the qualifications and expertise of the members of the highest governance body for guiding the organization’s strategy on economic, environmental, and social topics | See "IFC Articles of Agreement, Article IV" |
| 4.8 | Internally developed statements of mission or values, codes of conduct, and principles relevant to economic, environmental, and social performance and the status of their implementation | AR pgs 23, 108-109, 111
www.ifc.org/about
www.ifc.org/sustainability |
| 4.9 | Procedures of the highest governance body for overseeing the organization’s identification and management of economic, environmental, and social performance, including relevant risks and opportunities, and adherence or compliance with internationally agreed standards, codes of conduct, and principles | AR pgs 106-109
www.ifc.org/about
www.ifc.org/sustainability |
| 4.10 | Processes for evaluating the highest governance body's own performance, particularly with respect to economic, environmental, and social performance | www.ifc.org/about and "Boards of Directors" |
| 4.11 | Explanation of whether and how the precautionary approach or principle is addressed by the organization | IFC applies the precautionary principle through its Sustainability Performance Standards. These require that IFC and its clients anticipate risks to people and the environment related to investments and take steps to mitigate these. See www.ifc.org/sustainability |
| 4.12 | Externally developed economic, environmental, and social charters, principles, or other initiatives to which the organization subscribes or endorses | IFC endorses the Equator Principles which are based on its Performance Standards. The Corporation is also a signatory of the Corporate Governance Approach Statement by Development Finance Institutions. |
| 4.13 | Memberships in associations and/or national/international advocacy organizations | AR pgs 115-117 |
| Stakeholder Engagement | |
| 4.14 | List of stakeholder groups engaged by the organization | AR pgs 115-117 |
| 4.15 | Basis for identification and selection of stakeholders with whom to engage | AR pgs 115-117 |
| 4.16 | Approaches to stakeholder engagement, including frequency of engagement by type and by stakeholder group | AR pgs 115-117 |
| 4.17 | Key topics and concerns that have been raised through stakeholder engagement, and how the organization has responded to those key topics and concerns, including through its reporting. | AR pgs 115-117 |
| DISCLOSURE OF MANAGEMENT APPROACH | |
| Economic | AR pgs 24-29
www.ifc.org/results |
| Environmental | AR pgs 25, 27, 108-109
www.ifc.org/sustainability |
| Social: Labor Practices and Decent Work | AR pgs 111, 117
www.ifc.org/sustainability |
| Social: Human Rights | AR pgs 25, 109, 111
www.ifc.org/sustainability |
| Social: Society | AR pgs 24-25, 111
www.ifc.org/sustainability |
| Economic Performance | |
| EC1 | Economic value generated and distributed, including revenues, operating costs, employee compensation, donations and other community investments, retained earnings, and payments to capital providers and governments | AR overleaf/pg 2, pgs 26-27, 56-57
www.ifc.org/annualreport
Financial Statements |
| EC2 | Financial implications and other risks and opportunities for the organization's activities due to climate change | AR pgs 25, 44-46 |
| EC3 | Coverage of the organization's defined benefit plan obligations | IFC's pension is part of the World Bank Group plan. See "Compensation and Benefits" |
| EC4 | Significant financial assistance received from government | AR pg 114 |
| Market Presence | |
| EC5 | Range of ratios of standard entry level wage compared to local minimum wage at significant locations of operation | AR pg 106
|
| EC6 | Policy, practices, and proportion of spending on locally-based suppliers at significant locations of operation | www.worldbank.org/procurement |
| EC7 | Procedures for local hiring and proportion of senior management hired from the local community at significant locations of operation | AR pgs 104-105 |
| Indirect Economic Impacts | |
| EC8 | Development and impact of infrastructure investments and services provided primarily for public benefit through commercial in-kind or pro bono engagement | AR pgs 118-121
www.ifc.org/results |
| EC9 | Understanding and describing significant indirect economic impacts including the extent of impacts | www.ifc.org/results |
| Environmental | |
| EN1 | Materials used by weight or volume | IFC Footprint: Performance Data |
| EN2 | Percentage of materials used that are recycled input materials | IFC Footprint: Performance Data |
| EN3 | Direct energy consumption by primary energy source | IFC Footprint: Performance Data |
| EN4 | Indirect energy consumption by primary source | IFC Footprint: Performance Data |
| EN5 | Energy saved due to conservation and efficiency improvements | IFC Footprint: Performance Data |
| EN6 | Initiatives to provide energy-efficient or renewable energy based products and services, and reductions in energy requirements as a result of these initiatives | See "Identifying Climate Change Business Risks and Opportunities" |
| EN7 | Initiatives to reduce indirect energy consumption and reductions achieved | IFC Footprint: Performance Data |
| EN8 | Total water withdrawal by source | IFC Footprint: Performance Data |
| EN9 | Water sources significantly affected by withdrawal of water | IFC's operations do not require significant use of water. |
| EN10 | Percentage and total volume of water recycled and reused | IFC depends on local infrastructure and services for its water supply. |
| EN11 | Location and size of land owned, leased, managed in, or adjacent to, protected areas and areas of high biodiversity value outside protected areas | IFC's offices are located in urban areas. |
| EN12 | Description of significant impacts of activities, products, and services on biodiversity in protected areas and areas of high biodiversity value outside protected areas | Where IFC's investments have a significant impact on biodiversity, this is disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| EN13 | Habitats protected or restored | www.ifc.org/biodiversity |
| EN14 | Strategies, current actions, and future plans for managing impacts on biodiversity | www.ifc.org/biodiversity |
| EN15 | Number of IUCN Red List species and national conservation list species with habitats in areas affected by operations, by level of extinction risk | IFC's offices are located in urban areas. Where IFC's investments have impacts related to this indicator, they are disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| EN16 | Total direct and indirect greenhouse gas emissions by weight | IFC Footprint: Performance Data |
| EN17 | Other relevant indirect greenhouse gas emissions by weight | IFC Footprint: Performance Data |
| EN18 | Initiatives to reduce greenhouse gas emissions and reductions achieved | IFC Footprint: Performance Data |
| EN19 | Emissions of ozone-depleting substances by weight | IFC Footprint: Performance Data |
| EN20 | NOx, SOx, and other significant air emissions by type and weight | IFC Footprint: Performance Data |
| EN21 | Total water discharge by quality and destination | This information is not currently tracked for IFC's operations. IFC's offices are located in urban areas and depend on local infrastructure and services. |
| EN22 | Total weight of waste by type and disposal method | IFC Footprint: Performance Data |
| EN23 | Total number and volume of significant spills | IFC's direct operations as a financial institution do not include activities for which this indicator would be material. Aggregate information for the Corporation's investment portfolio is not currently available. |
| EN24 | Weight of transported, imported, exported, or treated waste deemed hazardous under the terms of the Basel Convention Annex I, II, III, and VIII, and percentage of transported waste shipped internationally | IFC's direct operations as a financial institution do not include activities for which this indicator would be relevant. Aggregate information for the Corporation's investment portfolio is not currently available. |
| EN25 | Identity, size, protected status, and biodiversity value of water bodies and related habitats significantly affected by the reporting organization's discharges of water and runoff | IFC's offices are located in urban areas and depend on local infrastructure and services. |
| EN26 | Initiatives to mitigate environmental impacts of products and services, and extent of impact mitigation | www.ifc.org/sustainability |
| EN27 | Percentage of products sold and their packaging materials that are reclaimed by category | IFC's direct operations as a financial institution do not include activities for which this indicator would be relevant. |
| EN28 | Monetary value of significant fines and total number of non monetary sanctions for non compliance with environmental laws and regulations | IFC's direct operations as a financial institution do not include activities for which this indicator would be material. In its investments, IFC promotes transparency by clients and partners with regard to sustainability and significant impacts of projects.
See www.ifc.org/sustainability |
| EN29 | Significant environmental impacts of transporting products and other goods and materials used for the organization's operations and transporting members of the workforce | IFC's direct operations as a financial institution do not include activities for which this indicator would be material. |
| EN30 | Total environmental protection expenditures and investments by type | AR pg 96 |
| Social Performance: Labor Practices and Decent Work | |
| LA1 | Total workforce by employment type employment contract and region | AR pgs 104-105 |
| LA2 | Total number and rate of employee turnover by age group gender and region | AR pg 105 |
| LA3 | Benefits provided to full-time employees that are not provided to temporary or part-time employees by major operations | AR pg 107
See World Bank Group "Compensation and Benefits" |
| LA4 | Percentage of employees covered by collective bargaining agreements | The World Bank Group Staff Association represents and protects the rights and interests of all World Bank Group staff to Management and the Board of Directors. |
| LA5 | Minimum notice period(s) regarding significant operational changes, including whether it is specified in collective agreements | The World Bank Group's Principles of Staff Employment set out the duties and obligations of IFC management and staff members. These are defined more explicitly in the Staff Manual, which includes procedures for Organization and Personnel Management. |
| LA6 | Percentage of total workforce represented in formal joint management-worker health and safety committees that help monitor and advise on occupational health and safety programs | The World Bank Health Services Department actively engages with the Staff Association's Health Issues Working Group, which represents the interests of all IFC staff in the design and improvement of occupational health promotion programs. |
| LA7 | Rates of injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities by region | This information is currently not publicly reported. |
| LA8 | Education, training, counseling, prevention, and risk-control programs in place to assist workforce members, their families, or community members regarding serious diseases | IFC staff benefit from an integrated health promotion program for the World Bank Group. See "Health Services" |
| LA9 | Health and safety topics covered in formal agreements with trade unions | The World Bank Group Staff Association represents staff concerns on a range of issues including workplace health, the staff medical insurance plan, and returning to work after illness. |
| LA10 | Average hours of training per year per employee by employee category | AR pg 105 |
| LA11 | Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings | AR pg 105 |
| LA12 | Percentage of employees receiving regular performance and career development reviews | All IFC staff participate in a performance management process that follows the fiscal year cycle. The process enables alignment between business and individual objectives, end-of-year evaluation, as well as staff-manager communication. |
| LA13 | Composition of governance bodies and breakdown of employees per category according to gender, age group, minority group membership, and other indicators of diversity | AR pgs 20-21, 104-105 |
| LA14 | Ratio of basic salary of men to women by employee category | This information is currently not publicly reported. |
| Social Performance: Human Rights | |
| HR1 | Percentage and total number of significant investment agreements that include human rights clauses or that have undergone human rights screening | Human rights are covered in IFC's Performance Standards on Labor and Working Conditions (PS 2) and Indigenous Peoples (PS 7). As of April 2006, all new IFC investments were subject to screening under the Performance Standards. |
| HR2 | Percentage of significant suppliers and contractors that have undergone screening on human rights and actions taken | See World Bank Procurement Policies |
| HR3 | Total hours of employee training on policies and procedures concerning aspects of human rights that are relevant to operations, including the percentage of employees trained | All IFC staff are expected to participate in training on IFC's Sustainability Policy and Performance Standards. Specific information is currently not available for this indicator. |
| HR4 | Total number of incidents of discrimination and actions taken | This information is currently not publicly reported. |
| HR5 | Operations identified in which the right to exercise freedom of association and collective bargaining may be at significant risk, and actions taken to support these rights | This indicator is addressed by IFC's Performance Standard on Labor and Working Conditions. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| HR6 | Operations identified as having significant risk for incidents of child labor and measures taken to contribute to the elimination of child labor | See HR5 |
| HR7 | Operations identified as having significant risk for incidents of forced or compulsory labor and measures to contribute to the elimination of forced or compulsory labor | See HR5 |
| HR8 | Percentage of security personnel trained in the organization's policies or procedures concerning aspects of human rights that are relevant to operations | Information is currently not available for this indicator. |
| HR9 | Total number of incidents of violations involving rights of indigenous people and actions taken | This indicator is addressed by IFC's Performance Standard on Indigenous Peoples. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| Social Performance: Society | |
| SO1 | Nature scope and effectiveness of any programs and practices that assess and manage the impacts of operations on communities including entering operating and exiting | This indicator is addressed by IFC's Performance Standard on Community Health, Safety, and Security. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| SO2 | Percentage and total number of business units analyzed for risks related to corruption | See World Bank Group Integrity Vice Presidency www.worldbank.org/integrity |
| SO3 | Percentage of employees trained in organization's anti-corruption policies and procedures | Information is currently not available for this indicator. |
| SO4 | Actions taken in response to incidents of corruption | See "Combating Fraud and Corruption" |
| SO5 | Public policy positions and participation in public policy development and lobbying | IFC promotes principles of sustainable private sector development in the countries where it operates, including through public-private partnerships. IFC's Articles of Agreement prevent interference in the political affairs of any member country. |
| SO6 | Total value of financial and in-kind contributions to political parties, politicians, and related institutions by country | IFC's Articles of Agreement prevent interference in the political affairs of any member country. |
| SO7 | Total number of legal actions for anticompetitive behavior, antitrust, and monopoly practices and their outcomes | IFC's operations as a financial institution do not include activities for which this indicator would be material. |
| SO8 | Monetary value of significant fines and total number of non-monetary sanctions for non-compliance with laws and regulations | IFC requires that its investments comply with local laws and regulations. IFC's Articles of Agreement provide certain immunities to the Corporation as a multilateral development institution. |
| Social Performance: Product Responsibility | |
| PR1 | Life cycle stages in which health and safety impacts of products and services are assessed for improvement and percentage of significant products and services categories subject to such procedures | This indicator is addressed by IFC's Performance Standard on Community Health, Safety, and Security. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Summaries of Proposed Investment and Environmental Documents published online for individual projects. |
| PR2 | Total number of incidents of non-compliance with regulations and voluntary codes concerning health and safety impacts of products and services during their life cycle by type of outcomes | See PR1 |
| PR3 | Type of product and service information required by procedures and percentage of significant products and services subject to such information requirements | IFC's operations as a financial institution do not include activities for which this indicator would be material. |
| PR4 | Total number of incidents of non-compliance with regulations and voluntary codes concerning product and service information and labeling by type of outcomes | See PR3 |
| PR5 | Practices related to customer satisfaction including results of surveys measuring customer satisfaction | IFC conducts an annual client survey as well as surveys to assess donor satisfaction with advisory services. The results of these surveys are not currently publicly reported but are used to improve IFC's services and procedures. |
| PR6 | Programs for adherence to laws standards and voluntary codes related to marketing communications including advertising promotion and sponsorship | IFC's operations as a financial institution do not include activities for which this indicator would be material. |
| PR7 | Total number of incidents of non-compliance with regulations and voluntary codes concerning marketing communications including advertising promotion and sponsorship by type of outcomes | See PR6 |
| PR8 | Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data | See PR6 |
| PR9 | Monetary value of significant fines for non-compliance with laws and regulations concerning the provision and use of products and services | See SO8 and PR6 |
