Why is IFC conducting a review and update of the IFC Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information?

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Why is IFC conducting a review and update of the IFC Policy and Performance Standards on Social and Environmental Sustainability and Policy on Disclosure of Information?

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When the Policy and Performance Standards on Social and Environmental Sustainability and the Policy on Disclosure of Information (sustainability framework) were approved in 2006, the Board asked IFC to report on the implementation of the framework after the initial three years of application and subsequently update the policies if necessary. IFC’s implementation experience shows that the framework is generally sound but there are clarifications and modifications that would improve its effectiveness. IFC also seeks to capture new developments and trends in the marketplace. Therefore, IFC requested an approval from the Board’s Committee of Development Effectiveness to start the review and update process. It was granted on July 29, 2009.

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