IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector.
In 2008 the company rolled out a resource efficiency investment program in Russia and CIS. We aim to increase investments in resource efficiency and encourage application of resource efficient technologies in nitro-based chemistry. It helps to advance the company’s financial performance, save costs and thus improve profitability. The adoption of systematic forward-looking approaches in resources use will beneficially effect abatement including reduction of GHG emission.
IFC has launched a resource efficiency (REF) benchmarking project focusing on nitrogen based chemical and fertilizer production sites. The study covers ammonia, nitric acid, urea and nitrogen-based fertilizer manufacturers from Russia, Ukraine, Turkey, the Balkans region and Central Asia.
OBJECTIVES The project aims to stimulate investment into resource efficiency projects in the sector across the region.
IFC intends to turn resource efficiency benchmarking into a regular practice of the industry. Two to three years repetition cycles will display sector evolution and provide participants with a clear, updated and dynamic picture of the competition field.
Resource efficiency benchmarking compares specific REF indicators with the analogical average and best industry values, and thereby reveals areas for improvement and cost savings. REF outcomes will serve as a practical tool for management to understand where their operations stand against the spectrum of competitors. The outcomes also will help to identify areas for improvement in a company’s operations and equipment, and will support an informed investment decision.
PROJECT LAUNCH: May 2011
CLOSURE: July 2013
PROJECT STAGES: A. Needs assessment and questionnaire
• Questionnaires distribution and responses collection: Sept-Oct 2011
B. Methodology development and testing: 4th Q of 2012
C. Company involvement – individual data collection and preparation of individual reports: end 2012 1st Q 2013
Individual reports for participating plants
General sector report
Guidelines on benchmarks comparison
The increased number of enterprises investing own funds in resource efficiency projects
IFC’s direct investment in the sector (up to five companies)
Driving other financial institutions to invest in resource efficient projects in nitro based chemistry.
PREPARATION At this stage IFC conducted a preliminary survey of industry opinions and needs. Sector experts, professional associations and thought leaders are actively involved in the work.
We respect the privacy and confidentiality of information received during the benchmarking study and do not divulge any portion of a company’s data to either enrolled participants or third parties. The study report comprises only aggregated data and contains no record about particular companies.
IFC initiative received powerful support from the most influential international industry associations: IFA and EFMA. The Russian Chemistry Association and University of Chemical Technology of Russia have become the project’s partners.
Leading sector experts have been invited to participate in the Coordination Committee. We involve the most authoritative and competent specialists with an outstanding expertise to make our work impartial and significant.