8 September 2009
IFC officially begins the review of its Performance Standards with launch of website.
The International Finance Corporation (IFC) officially began the review and update process of its Sustainability Framework on September 8 with the launch of a website dedicated to the review process.
The Sustainability Framework includes IFC's:
- Policy on Social and Environmental Sustainability, which spells out IFC's role in ensuring sustainability in its projects
- Performance Standards, which govern the clients' responsibilities
- Disclosure Policy
The IFC policy review is expected to last through 2010 and will include three stages of face-to-face consultations with stakeholders as well as online consultations via IFC's policy review website. According to the site, the first stage of consultations, from mid-September to mid-November, will be dedicated to seeking stakeholders' inputs on 1) clarity of language, 2) implementation effectiveness and 3) gaps in the current coverage, while stages two and three will consult stakeholders on proposed revisions to the policies.
resources
IFC Policy Review webpage (IFC website)
IFC Policy and Performance Standards on Social and Environmental Sustainability Review and Update (IFC website)
IFC Policy on Disclosure of Information Review and Update (IFC website)