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The International Finance Corporation’s Sustainability Framework FY2012–25: An Independent Evaluation (Approach Paper)

Washington, DC: World Bank

🛡CC BY-NC 3.0 IGOPermitted use with attribution

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Abstract

The Independent Evaluation Group (IEG) is evaluating the International Finance Corporation (IFC) Sustainability Framework to identify lessons for its planned update. The evaluation will focus on how IFC and its clients have applied the framework, assessing the systems and processes used for its implementation. It will also examine the adequacy of the framework's policy architecture and coverage, in coordination with the ongoing evaluation of the World Bank's Environmental and Social Framework (ESF). Introduced in 2006, the IFC Sustainability Framework represents IFC's strategic commitment to sustainable development and is integral to its risk management approach. The framework outlines the E&S responsibilities of IFC and its clients, ensuring that projects financed by IFC contribute to positive development outcomes while effectively managing E&S risks. It replaced the 1998 Safeguards Policies with an integrated approach to managing environmental and social (E&S) risks. The framework includes the Policy on Environmental and Social Sustainability, Performance Standards, and Access to Information Policy, supplemented by over 80 publications providing detailed implementation guidance.

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