IFC Performance Standards on Environmental and Social Sustainability

IFC Performance Standards on Environmental and Social Sustainability

Organization

International Finance Corporation (IFC) World Bank Group

Type(s) of Tool

StandardsProvide information about the compliance of projects or assets with a given set of sustainability criteria.

Sector(s)

Tools applicable to all sectors

Lifecycle Phase(s)

PrioritizationAuthorities decide which projects to realize and how to allocate resources., Project PlanningGeneral strategy for a project’s delivery is developed., Concept DesignTechnical experts broadly outline the project’s basic characteristics., ProcurementThe provision of goods and services to realize a project are tendered and closed., FinanceDevelopers decide how to pay for their project., Detailed DesignTechnical experts further elaborate the Concept Design., ConstructionThe asset is constructed in line with design, budget and timeline.

Open Source

Yes

Language Availability

Arabic, Chinese, Dutch, English, French, Portuguese, Russian, Spanish, Turkish, Vietnamese

Country of Origin

USA

Date of Development

2006

Version

v.2012

Description

The Environmental and Social Performance Standards of the International Finance Coalition (IFC) define IFC clients’ responsibilities for managing the environmental and social risks of their projects. The Performance Standards provide guidance on how to identify risks and impacts and are designed to help avoid, mitigate and manage risks and impacts as a way of doing business in a more sustainable way. Since 2012, the Standards apply to all IFC clients whose projects go through IFC’s initial credit review process.

Tool Outcome

The Performance Standards provide guidance on how to identify sustainability risks and impacts and are designed to help avoid, mitigate, and manage them as a way of doing business in a more sustainable way.

Sustainability Criteria

The tool encompasses eight sustainability standards:
– Risk management
– Labor
– Resource efficiency
– Community
– Land resettlement
– Biodiversity
– Indigenous people
– Cultural heritage

Link to Product

https://www.ifc.org/wps/wcm/connect/Topics_Ext_Content/IFC_External_Corporate_Site/Sustainability-At-IFC/Policies-Standards/Performance-Standards/

Contact Information