During the Phase I consultation period, IFC held over 55 consultation meetings, including three open sessions in Istanbul, Washington, D.C., and Brussels and one External Advisory Groupmeeting.
In total, IFC met over 500 stakeholders from a range of backgrounds and regions, including multilateral banks, bilateral banks, commercial financial institutions including the Steering Committee of Equator Principles Financial Institutions (EPFIs), trade unions, select UN agencies, Indigenous Peoples, conservation organizations, business associations, individual companies, the NGO and CSO community, World Bank Group colleagues and the External Advisory Group.
Phase I consultations focused on obtaining feedback in the following areas:
Clarity of Language: IFC sought advice on how to increase clarity and reduce ambiguity in language wherever necessary.
Implementation Effectiveness: IFC sought suggestions on how to improve implementation, especially from those who have implemented the Performance Standards on projects, or from those who have been directly impacted by projects that implemented the Performance Standards.
Gaps in Current Coverage: IFC sought help in identifying missing areas and accompanying guidance on ways to implement new requirements on the ground.