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Recently Sinzer announced the formal Data Partnership with the Global Value Exchange (GVE). We are presenting a series of blogs with more detailed information about which data sources GVE uses to extract outcomes, indicators and valuations from. This week we highlight indicators from the International Finance Corporation (IFC) Sustainability Framework, which – through our new data partnership – can now be accessed from the Sinzer platform as well.
The IFC Framework summarizes IFC’s commitment to sustainable development, and provides guidance on how the social and environmental risks of a project can be avoided, mitigated and managed. This Framework outlines 8 Environmental and Social Performance Standards which IFC’s clients are required to meet throughout the lifespan of a project, forming a regulatory structure.
Although the Performance Standards were originally developed for IFC and World Bank funded projects, a range of financial institutions now use these to promote the sustainability of their investments. We expect these indicators will therefore be of interest to many users of the GVE and Sinzer involved in impact investing.
The Performance Standards have been added to the GVE as outcomes, by rewording each to reflect a change made by an organization. For example, Performance Standard 2: ‘Labour and Working Conditions’ has been reworded to “Organization has taken steps to improve its labor and working conditions”. Sections within each Performance Standard have been uploaded as indicators and linked to the relevant outcome. For example, the indicator “Protection of Cultural Heritage in Project Design and Execution” (IFC Performance Standard 8) has been linked to the outcome: “Organization has implemented or improved systems for protecting and preserving cultural heritage”.
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IFC Performance Standard |
GVE outcome developed from this |
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Performance Standard 1: Assessment and Management of Environmental and Social Risks and Impacts |
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Performance Standard 2: Labour and Working Conditions |
Organization has taken steps to improve its labor and working conditions |
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Performance Standard 3: Resource Efficiency and Pollution Prevention |
Organization has taken steps to improve resource efficiency and prevent pollution |
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Performance Standard 4: Community Health, Safety and Security |
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Performance Standard 5: Land Acquisition and Involuntary Resettlement |
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Performance Standard 6: Biodiversity Conservation and Sustainable Management of Living Natural Resources |
Organization has taken steps to protect and enhance biodiversity and ecosystem functioning |
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Performance Standard 7: Indigenous Peoples |
Organization has taken steps to protect indigenous people and their communities |
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Performance Standard 8: Cultural Heritage |
Organization has implemented or improved systems for protecting and preserving cultural heritage |
See below for a visualization of this structure:
Source: Global Value Exchange
For more information on the IFC Performance Standards, click here. Interested to learn more about how to use this data in the Sinzer platform? Request a free demo here.
