About IFC's Sustainability Framework
The current sustainability framework is part of IFC's longstanding commitment to sound environmental management and social development, going back almost 20 years. It reflects IFC's commitment to the sustainability of the projects IFC finances and to its strategic pillar on climate change and environmental and social sustainability.
The Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information, accompanied by Performance Standards Guidance Notes and Environment, Health and Safety Guidelines, provide private sector clients with a clear and comprehensive view of requirements early in their engagement with IFC. This is of critical importance for private sector clients that need a high level of certainty on roles, responsibilities, and performance expectations before entering into a financial transaction.
| Sustainability Policy |
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Disclosure Policy |
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The Policy on Social and Environmental Sustainability (Sustainability Policy) defines IFC's responsibility for supporting project performance in partnership with clients.
IFC's role is to review the client's assessment; to assist the client in developing measures to avoid, minimize, mitigate or compensate for social and environmental impacts consistent with the Performance Standards; to categorize the project in order to specify IFC's institutional requirements to disclose to the public project-specific information; to help identify opportunities to improve social and environmental outcomes; and to monitor the client's social and environmental performance throughout the life of IFC's investment.
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The Policy on Disclosure of Information (Disclosure Policy) defines IFC's obligations to disclose information about itself as an institution and its activities, including projects it finances. It sets out the policy of the Corporation regarding the scope of information that it makes available to the public either as a routine matter or upon request.
This Policy reaffirms and reflects IFC's commitment to enhance transparency about its activities and promote good governance. |
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| Performance Standards |
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IFC's Performance Standards (PS) define clients' roles and responsibilities for managing their projects and the requirements for receiving and retaining IFC support. They include:
- PS1: Social and Environmental Assessment and Management Systems
- PS2: Labor and Working Conditions
- PS3: Pollution Prevention and Abatement
- PS4: Community Health, Safety and Security
- PS5: Land Acquisition and Involuntary Resettlement
- PS6: Biodiversity Conservation and Sustainable Natural Resource Management
- PS7: Indigenous Peoples
- PS8: Cultural Heritage
Translations of the Performance Standards are also available in French, Spanish, Portuguese, Russian, Arabic and Chinese.
Over time the Performance Standards have become a global benchmark for managing environmental and social risk by financial institutions. Since 2006, the Performance Standards have formed the basis of a revised set of the Equator Principles applied by almost 70 commercial financial institutions worldwide, including 16 from emerging markets. In addition, OECD Export Credit Agencies and European Development Finance Insitutions also refer in their respective poicies to Performance Standards.
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Performance Standards Guidance Notes
The Performance Standards are accompanied by eight respective Guidance Notes that provide additional guidance and interpretation to clients in fulfilling their roles and responsibilities under the Performance Standards.
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