Sustainability ESG Accountability
Environmental, Social and Governance Accountability
IFC'S SUCCESS REFLECTS SIX DECADES OF EXPERIENCE IN PRIVATE SECTOR DEVELOPMENT IN EMERGING MARKETS.
That experience has given us a large body of knowledge—particularly with environmental and social sustainability, and corporate governance—that we share with our clients and others. We expand our knowledge base with each new investment we undertake.
We learn from our experience. We are continually improving our procedures, good-practice guidance, and learning materials based on our engagement with partners, our analytical work, and our operational experience. We also help clients understand and find solutions to difficult challenges they face.
DIALOGUE WITH STAKEHOLDERS
IFC systematically seeks feedback from stakeholders. This is critical to our ability to deliver results.
Through regular consultations and partnerships with civil society organizations, the private sector, and others, we form a continuous feedback loop with our stakeholders about key sustainability issues. We receive valuable feedback regarding our work. We believe that over time, this increased—and ongoing—dialogue and partnerships results in better project outcomes, increased awareness on the part of affected communities, and stronger relationships with stakeholders.
Transparency and Accountability
Transparency and accountability are central to our approach. They are essential aspects of building and maintaining public dialogue. They help improve project design and contribute to strong development outcomes.
IFC believes that transparency and accountability are fundamental to fulfilling our development mandate and strengthening public trust in IFC and our clients. IFC's Access to Information Policy reaffirms and reflects our commitment to these principles.
We disclose information about our projects, including project-level environmental and social review summaries (ESRS), through our disclosure portal.
IFC’s work is continuously evaluated by two independent accountability mechanisms:
The Independent Evaluation Group is charged with evaluating the activities of IBRD and IDA (the World Bank), the work of IFC in private sector development, and MIGA's guarantee projects and services. The goals of evaluation are to provide an objective assessment of the results of the Bank Group’s work and to identify and disseminate lessons learned from experience.
The Compliance Advisor Ombudsman (CAO) is the independent recourse mechanism for IFC and MIGA. The CAO responds to complaints from project-affected communities with the goal of enhancing social and environmental outcomes on the ground.