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Washington, October 24, 2018
—IFC, a member of the World Bank Group, signed an agreement with EDGE Gender Equality Certification, which sets benchmarks for gender equality in workplaces, to promote gender diversity among IFC clients and partners in emerging markets.
As an accredited licensing partner for Economic Dividends for Gender Equality (EDGE) Certification, IFC can offer EDGE Gender Equality Certification as a key part of its investment and advisory services. EDGE-certified companies are evaluated according to global and industry benchmarks through a third-party audit of four pillars: gender balance at all levels, equal pay for equivalent work, effective policies and practices to ensure equitable career flows, and an inclusive culture.
“Through this partnership we hope that more companies in emerging markets will discover the strength of the business case for greater gender equality in the workplace,” said Henriette Kolb, Head of IFC Gender Secretariat. “There is no doubt that companies can deliver greater business impact and be more competitive by fostering an equitable and inclusive workplace for women and men.”
The EDGE gender methodology can provide companies with a competitive advantage by positioning the organization as a gender-equal environment to work in, invest in, and do business with.
Aniela Unguresan, Co-Founder of the EDGE Certified Foundation, said, “This joint effort will accelerate progress toward workplace gender equality with a focus on emerging markets. As an investor in private-sector companies and accredited licensing partner for EDGE Gender Equality Certification, IFC is sending a strong signal that workplace gender equality is fundamental to sustainable business success, improved governance, and an increased ability to adapt to shifting market trends.”
The IFC-EDGE Gender Equality Certification licensing partnership follows a long-standing relationship supporting companies to assess and identify opportunities to close gender gaps at the workplace. In 2014, as part of the IFC-led SheWorks partnership, EDGE Gender Equality Certification, the International Labour Organization, and the UN Global Compact partnered with 13 global companies that had made pledges to implement measures proven to enhance women’s employment opportunities. In 2016, IFC, along with the World Bank, became the first international financial institution to obtain EDGE Gender Equality Certification. In 2018, IFC and its global offices were successfully re-certified.
Women entrepreneurs, employees, suppliers, and leaders are engines of economic growth and business opportunity. IFC provides companies investment and advisory solutions to create equal opportunities for women and men to participate in the private sector.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, we delivered more than $23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
.
About EDGE Gender Equality Certification
EDGE is the leading global assessment methodology and business certification standard for gender equality. It measures where organizations stand in terms of gender balance across their pipeline, pay equity, effectiveness of policies and practices to ensure equitable career flows as well as inclusiveness of their culture. Launched at the World Economic Forum in 2011, EDGE Gender Equality Certification has been designed to help companies not only create an optimal workplace for women and men, but also to benefit from it. EDGE stands for Economic Dividends for Gender Equality and is distinguished by its rigor and focus on business impact. EDGE Gender Equality Certification is currently working with 200 global organizations, in 50 countries and 23 sectors. For more information, visit
www.edge-cert.org
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