The Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information, which came into effect on April 30, 2006, constitute the IFC’s Sustainability Framework.
While in many ways, three years of application is not a very long timeframe in which to gain implementation experience, CODE agreed with Report's conclusions that there are clarifications and modifications that would improve its effectiveness, and approved IFC's proposal to initiate the review and update process of the Sustainability Framework. IFC launched the review and update process of the Sustainability Framework on September 8, 2009. The updated framework is expected to come into effect in 2011.
Consultation and Engagement Process
IFC believes that stakeholder input is critical for the successful update of the Sustainability Framework and is committed to a collaborative and transparent review process.
The goal of the consultation is to give all stakeholders, particularly those affected by IFC's projects, sufficient opportunity to participate in the review and update process by voicing their opinions, suggestions and concerns.
IFC will solicit feedback through a combination of web-based consultations, face-to-face consultations in Washington, DC and in different regions. Consultations will take places in three phases - Some meetings will be "by invitation only" while others will be open to anyone. We will also consult with project-affected communities. IFC will also use available electronic tools to organize live e-discussion meetings open to a broad spectrum of stakeholders. Information on specific dates and venues are available on our Events and Milestones page.
Consultations are conducted in English, though translation services will be available during meetings. A summary of the meeting notes in the local language will be provided for regional face-to-face meetings and meetings with local communities.
IFC asks that comments outside of these meetings be submitted in English. Translations of the Sustainability Policy, Performance Standards and the Access to Information Policy will be available for Phase II and Phase III Consultation in track change in English, Arabic, Chinese, French, Portuguese, Russian and Spanish. Once approved by the Board, these documents, as well as the Guidance Notes, will be translated.