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Ottawa, Canada, March 6, 2017
-- IFC, the private sector arm of the World Bank Group, unveiled a new resource for companies operating in emerging markets to support responsible management of security personnel and promote respect for human rights. As IFC increasingly engages in fragile, conflict, and violence-prone areas, this handbook provides practical, project-level guidance for assessing and managing security-related risks and impacts, including risks to local communities.
“Particularly in high risk and conflict contexts, identifying and addressing adverse security-related risks and impacts on communities can help companies strengthen relations with the local population and improve stability of the operating environment, ” commented Morgan Landy, IFC Director for Environment, Social and Governance Department.
“The guide takes a straightforward and practical approach; and is a very helpful contribution to companies in designing and implementing security and human rights programs," said Jonathan Drimmer, Vice President and Deputy General Counsel of Barrick Gold, a member of the Voluntary Principles initiative.
The Handbook was developed by IFC in collaboration with the Fund for Peace and Monkey Forest Consulting. It draws on IFC’s practical experience of applying Performance Standard 4 to its investment clients across sectors and markets. IFC’s Performance Standard 4 on Community Health, Safety, and Security requires companies to 1) assess the security risk their operations may have or could create for communities; 2) develop ways to manage and mitigate these risks; 3) manage private security responsibly; 4) engage with public security; and 5) consider and investigate allegations of unlawful acts by security personnel. Performance Standard 4 applies to companies of any size and in any country or sector.
IFC’s Environmental and Social Performance Standards
(eight in total) provide guidance to IFC’s clients 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 sustainable way, including stakeholder engagement and disclosure obligations of the client in relation to project-level activities. IFC requires its clients to apply the Performance Standards to manage environmental and social risks and impacts so that development opportunities are enhanced. Since their adoption in 2006, IFC’s Performance Standards have become a global benchmark for project finance across emerging markets. Eighty-nine financial institutions in 37 countries have adopted the Equator Principles, which are based on these standards. Other leading development institutions have also adopted practices rooted in our standards. Over the past decade, an estimated $4.5 trillion in investments across emerging markets have adhered to IFC’s standards, or principles inspired by them.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
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