IFC's Performance Standards on Environmental and Social Sustainability have become globally recognized good practice in dealing with environmental and social risk management. In the financial markets worldwide, the Performance Standards have been catalyzing the swift convergence of standards for cross-border project finance.
- More than 90 banks and financial institutions have voluntarily adopted the Equator Principles, which are based on IFC's Performance Standards.
- 32 export credit agencies of the OECD countries benchmark private sector projects against IFC's Performance Standards.
- The Multilateral Investment Guarantee Agency (MIGA) applies IFC's Performance Standards in its operations.
- The World Bank applies IFC's Performance Standards (known as World Bank Performance Standards) to projects supported by IBRD/IDA (International Bank for Reconstruction and Development/International Development Association) that are owned, constructed and/or operated by the private sector.