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Annual Report

GRI Index


In preparing IFC’s 2011 Annual Report (AR), we drew on the principles of the Global Reporting Initiative (G3.1 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.

 

GRI Indicator

Location

Strategy and Analysis

1.1

Statement from the CEO.

AR Introduction

1.2

Description of key impacts, risks, and opportunities.

AR pgs 1-56

Organization Profile

2.1

Name of organization.

IFC (International Finance Corporation)

2.2

Primary brands, products, and/or services.  

AR pgs 64-76

2.3

Operational structure of the organization, including main divisions, operating companies, subsidiaries, and joint ventures.

About IFC

2.4

Location of organization’s headquarters

Washington, D.C. (USA)

2.5

Number of countries where the organization operates, and names of countries with either major operations or that are specifically relevant to the sustainability issues covered in the report.

About IFC

2.6

Nature of ownership and legal form.

AR pgs 90-91
About IFC

2.7

Markets served (including geographic breakdown, sectors served, and types of customers/beneficiaries).

AR pgs 8-13
About IFC

2.8

Scale of the reporting organization.

AR overleaf, pgs 65-69

About IFC

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 (e.g., fiscal/calendar year) for information provided.

1 July 2010–30 June 2011

3.2

Date of most recent previous report (if any).

September 2010

3.3

Reporting cycle (annual, biennial, etc.)

Annual

3.4

Contact point for questions regarding the report or its contents.

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 (e.g., countries, divisions, subsidiaries, leased facilities, joint ventures, suppliers). See GRI Boundary Protocol for further guidance.

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 (see completeness principle for explanation of scope).

IFC does not report on the performance of individual investments in its portfolio. Descriptions of individual investments can be found at IFC Project 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 69, 81-86, and Financial Statements.
IFC Project Disclosure
IFC Footprint Program

3.9

Data measurement techniques and the bases of calculations, including assumptions and techniques underlying estimations applied to the compilation of the Indicators and other information in the report. Explain any decisions not to apply, or to substantially diverge from, the GRI Indicator Protocols.

AR pgs 81-86

IFC Results Measurement Portal
IFC Footprint Program

3.10

Explanation of the effect of any re-statements of information provided in earlier reports, and the reasons for such re-statement (e.g., mergers/acquisitions, change of base years/periods, nature of business, measurement methods).

There were no restatements of information in FY10.

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 FY11.

3.12

Table identifying the location of the Standard Disclosures in the report.

See GRI Index at Annual Report

Assurance

3.13

Policy and current practice with regard to seeking external assurance for the report.

AR pgs 92-93

Governance

4.1

Governance structure of the organization, including committees under the highest governance body responsible for specific tasks, such as setting strategy or organizational oversight.

About IFC

4.2

Indicate whether the Chair of the highest governance body is also an executive officer.

About IFC

4.3

For organizations that have a unitary board structure, state the number and gender 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 (including departure arrangements), and the organization’s performance (including social and environmental performance).

AR pgs 88-91

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 composition, qualifications, and expertise of the members of the highest governance body and its committees, including any consideration of gender and other indicators of diversity.

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 58-59, 72-73, 78-80
About IFC
IFC Sustainability Website

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 72-73, 90-91, 96-97
About IFC
IFC Sustainability Website

4.10

Processes for evaluating the highest governance body’s own performance, particularly with respect to economic, environmental, and social performance.

About IFC 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 Performance Standards on Environmental and Social Sustainability. These require that IFC and its clients anticipate risks to people and the environment related to investments and take steps to mitigate these.

IFC Sustainability Website

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 (such as industry associations) and/or national/international advocacy organizations in which the organization: * Has positions in governance bodies; * Participates in projects or committees; * Provides substantive funding beyond routine membership dues; or * Views membership as strategic.

AR pgs 74-76

Stakeholder Engagement

4.14

List of stakeholder groups engaged by the organization.

AR pgs 72-76, 101

4.15

Basis for identification and selection of stakeholders with whom to engage.

AR pgs 72-76, 104-105

4.16

Approaches to stakeholder engagement, including frequency of engagement by type and by stakeholder group.

AR pgs 72-76, 104-105

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 72-76, 104-105

DISCLOSURE OF MANAGEMENT APPROACH

Economic.

AR pgs 9-11
IFC Results Measurement Portal

Environmental.

AR pgs 68, 72, 96-99
IFC Sustainability Website

Social: Labor Practices and Decent Work.

AR pgs 72, 96-97
IFC Sustainability Website

Social: Human Rights.

AR pgs 72, 92-93, 96-97
IFC Sustainability Website

Social: Society.

AR pgs 72, 96-97
IFC Sustainability Website

Social: Product Responsibility.

AR pgs 60-61, PR1-PR9

Economic Performance

EC1

Direct 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 pgs 9-13, 88-89
Annual Report
Financial Statements

EC2

Financial implications and other risks and opportunities for the organization’s activities due to climate change.

AR pgs 25, 35, 39, 59
Climate Business Website

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 75

Market Presence

EC5

Range of ratios of standard entry level wage by gender compared to local minimum wage at significant locations of operation.

AR pgs 88-89
 

EC6

Policy, practices, and proportion of spending on locally-based suppliers at significant locations of operation.

See World Bank Procurement Website

EC7

Procedures for local hiring and proportion of senior management hired from the local community at significant locations of operation.

AR pgs 88-89

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 8-13, 81-86
IFC Results Measurement Portal

EC9

Understanding and describing significant indirect economic impacts, including the extent of impacts.

IFC Results Measurement Portal

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 Environmental and Social Review Summary 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

IFC Sustainability Policy and Performance Standards

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 Environmental and Social Review Summary 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.

IFC Sustainability Website

IFC Sustainability Policy and Performance Standards

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 IFC Sustainability Website

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 pgs 10-13, 25, 35, 39, 59

Social Performance: Labor Practices and Decent Work

LA1

Total workforce by employment type, employment contract, and region, broken down by gender.

AR pgs 65, 88-89

LA2

Total number and rate of new employee hires and employee turnover by age group, gender, and region.

AR pgs 88-89

LA3

Benefits provided to full-time employees that are not provided to temporary or part-time employees, by major operations.

AR pgs 88-89
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 and by gender.

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 gender, and by employee category.

Working at IFC

LA11

Programs for skills management and lifelong learning that support the continued employability of employees and assist them in managing career endings.

Working at IFC

LA12

Percentage of employees receiving regular performance and career development reviews, by gender.

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 employee category according to gender, age group, minority group membership, and other indicators of diversity.

AR pgs 65, 88-89

 

IFC’s diverse management team at the end of FY 11 consisted of 7 men and 4 women (36 % women).

 

IFC also has Women's Networks, which consist of female staff who have a shared interest in the recruitment, development, and retention of talented women in the organization.

LA14

Ratio of basic salary and remuneration of women to men by employee category, by significant locations of operation.

IFC’s compensation system is designed to ensure equal pay for equal work. IFC periodically conducts equal pay reviews/audits to avoid/redress any pay gaps accordingly.

LA15

Return to work and retention rates after parental leave, by gender.

Almost all women who took maternity leave in FY10 returned to work and were employed for at least 12 months following their return from maternity leave.

Social Performance: Human Rights

HR1

Percentage and total number of significant investment agreements and contracts that include clauses incorporating human rights concerns, or that have undergone human rights screening.

Due diligence against IFC’s Performance Standards enables clients to address many relevant Human Rights issues in their projects.

HR2

Percentage of significant suppliers, contractors and other business partners that have undergone human rights screening, 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 corrective actions taken.

This information is currently not publicly reported.

HR5

Operations and significant suppliers identified in which the right to exercise freedom of association and collective bargaining may be violated or at significant risk, and actions taken to support these rights.

This indicator is addressed by IFC’s Performance Standard 2 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 Environmental and Social Review Summary published online for individual projects.

HR6

Operations and significant suppliers identified as having significant risk for incidents of child labor, and measures taken to contribute to the effective abolition of child labor.

See HR5

HR7

Operations and significant suppliers identified as having significant risk for incidents of forced or compulsory labor, and measures to contribute to the elimination of all forms 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 7 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 Environmental and Social Review Summary published online for individual projects.

HR10

Percentage and total number of operations that have been subject to human rights reviews and/or impact assessments.

AR pgs 92-93

 

For the majority of projects with defined environmental and social risks, Environmental and Social Impact Assessments (ESIAs) are required. These cover broad areas of human rights relevant to business operations. Additional human rights methodology is offered, and may be appropriate, in certain circumstances.

HR11

Number of grievances related to human rights filed, addressed and resolved through formal

grievance mechanisms.

AR pgs 92-93

 

A number of accountability mechanisms are available for human rights-related grievances.  Where there are Affected Communities, the Performance Standards require clients to establish an independent system to receive and facilitate resolution of concerns and grievances about the client’s environmental and social performance.  Individuals and communities affected by IFC-supported business activities with grievances related to IFC’s procedures and actions, also have access to the independent oversight authority of the Office of the Compliance Advisor/ Ombudsman.

Social Performance: Society

SO1

Percentage of operations with implemented local community engagement, impact assessments, and development programs.

This indicator is addressed by IFC’s Performance Standard 1 on Assessment and Management on Environmental and Social Risks and Impacts; Performance Standard 4 on Community Health, Safety, and Security; Performance Standard 5 on Land Acquisition and Involuntary Resettlement; and Performance Standard 7 on Indigenous Peoples, when applicable. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Environmental and Social Review Summary 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.

All IFC staff receive training on the World Bank Group’s anti-corruption policies and procedures. This is provided through a dedicated e-learning course.

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 anti-competitive behavior, anti-trust, 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.

SO9

Operations with significant potential or actual negative impacts on local communities.

This indicator is addressed by IFC’s Performance Standard 1 on Assessment and Management on Environmental and Social Risks and Impacts; Performance Standard 4 on Community Health, Safety, and Security; Performance Standard 5 on Land Acquisition and Involuntary Resettlement; and Performance Standard 7 on Indigenous Peoples, when applicable. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Environmental and Social Review Summary published online for individual projects.

IFC Project Disclosure

SO10

Prevention and mitigation measures implemented in operations with significant potential or actual negative impacts on local communities.

This indicator is addressed by IFC’s Performance Standard 1 on Assessment and Management on Environmental and Social Risks and Impacts; Performance Standard 4 on Community Health, Safety, and Security; Performance Standard 5 on Land Acquisition and Involuntary Resettlement; and Performance Standard 7 on Indigenous Peoples, when applicable. Where an IFC investment contains a significant risk in this regard, information about the risk and corrective actions are disclosed in the Environmental and Social Review Summary published online for individual projects.

IFC Project Disclosure

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.

IFC’s operations as a financial institution do not include activities for which this indicator would be material.

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


 

FINANCIAL SERVICES SECTOR SUPPLEMENT

 

Environmental Performance

F1

Environmental policies applied to core business lines

See IFC Sustainability Policy and Performance Standards

F2

Processes for screening environmental risks

AR pgs 72, 96-99
See IFC Environmental and Social Review Procedure

F3

Thresholds for applying environmental risk assessment

AR pgs 72, 96-99
IFC Sustainability Policy and Performance Standards

F4

Monitoring clients’ implementation and compliance with environmental risk management requirements

AR pgs 72, 96-99

F5

Processes for improving staff competency in addressing environmental risks and opportunities

All IFC staff receive training on IFC’s Sustainability Policy and Performance Standards. This is provided through a dedicated e-learning course as well as components in staff induction and credit courses.

F6

Number and frequency of environmental audits that include the examination of environmental risk systems and procedures related to core business lines

AR pgs 12, 72, 96-99
IFC Project Disclosure

F7

Description of interactions with clients regarding environmental risks and opportunities

AR pgs 12, 72, 96-99
See IFC Environmental and Social Review Procedure

F8

Percentage and number of companies in portfolio with which IFC has engaged on environmental issues

AR pgs 12, 72, 96-99

F9

Percentage of assets subjected to positive, negative and best-in-class environmental screening

AR pgs 72, 96-99

F10

Description of share-voting policy on environmental issues

IFC’s Articles of Agreement prevent the Corporation from assuming responsibility for managing any enterprise in which it has invested. This includes exercising voting rights on issues within the scope of managerial control. As an investor, IFC promotes sustainability in all its engagements with clients in line with the Performance Standards.

F12

Monetary value of specific environmental products and services according to each core business line

AR pg 68

F13

Value of portfolio for each core business line according to region and sector

AR pgs 9-13, 66-68

Social

Corporate Social Responsibility (CSR) Management

CSR 1

CSR policy

See IFC Sustainability Policy and Performance Standards, and IFC Footprint Program

CSR 2

CSR organization

See IFC Sustainability Policy and Performance Standards, IFC Environmental and Social Review Procedure, and IFC Footprint Program

CSR 3

CSR audits

See "Report on the First Three Years of Application" of the Sustainability Framework (IFC, July 2009); "Environmental Sustainability: An Evaluation of World Bank Group Support" (Independent Evaluation Group, 2008); and “CAO Advisory Note: Review of IFC’s Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information” (Office of the Compliance Advisor/Ombudsman, May 2010).

CSR 4

Management of sensitive issues

IFC’s Performance Standards on Environmental and Social Sustainability enable identification of sensitive issues during the early stages of the investment cycle. Where an IFC investment contains significant risks to people or the environment, information about the risks and corrective actions are disclosed in the Environmental and Social Review Summary published online for individual projects.

CSR 5

Non-compliance

IFC’s Office of the Compliance Advisor/ Ombudsman oversees compliance reviews for IFC of overall environmental and social performance and in relation to specific projects.

Internal Social Performance

INT 1

Internal CSR policy

IFC Footprint Program

INT 2

Staff turnover and job creation

AR pgs 88-89

INT 3

Employee satisfaction

The World Bank Group conducts a bi-annual staff survey which managers use to develop strategies that respond to staff concerns and improve internal procedures. The results are not publicly reported.

INT 4

Senior management remuneration

AR pgs 88-89

INT 5

Bonuses fostering sustainable success

AR pgs 88-89

INT 6

Female/male salary ratio

This information is not currently reported publicly.

INT 7

Employee profile

AR pgs 88-89

Performance to Society

SOC 1

Charitable contributions

AR pgs 79, 81-86

SOC 2

Economic value-added

AR pgs 60-61, 82-83

Suppliers

SUP 1

Screening of major suppliers

See World Bank Procurement Policies

SUP 2

Supplier satisfaction

This information is currently not tracked in a systematic way.

Investment Banking

IB 1

Investment policy (socially relevant elements)

See IFC Sustainability Policy and Performance Standards

IB 2

Customer profile: Global Transaction Structure

AR pgs 9, 66-69
See About IFC

IB 3

Transactions with high social benefit

AR pgs 10-56, 81-86

 

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