|
Washington D.C., July 12, 2011
—IFC, a member of the World Bank Group, today launched a new Web portal aimed at advancing the environmental and social performance of financial intermediaries in emerging markets.
The portal, Financial Institutions, Resources, Solutions & Tools for Sustainability or “FIRST for Sustainability”, will serve as a global resource on environmental and social risk management, environmental business opportunities, and sustainability-related tools and information developed by IFC and other development finance institutions. It can be accessed at
www.firstforsustainability.org
.
“Over the past decade, IFC has developed guidance, tools, and training that enable financial institutions to manage their environmental and social risks while bringing about sustainable economic growth,” said William Bulmer, Director for Environment, Social, and Governance. “We are now making these resources available to the broader financial community. Our goal is to support our clients and help improve the environmental and social performance of financial intermediaries in the broader market.”
IFC has an active investment program with financial intermediaries, including commercial banks, private equity funds, leasing companies, and microfinance institutions. IFC supports these clients in managing the environmental and social risks in their lending and investment operations. In addition, IFC’s financial intermediary clients are required to develop an environmental and social management system and report on the environmental and social performance of their clients as conditions of IFC’s financial support.
FIRST for Sustainability is expected to improve the quality and consistency of guidance available to financial intermediaries, provide broader access resources, and serve as the knowledge anchor for IFC’s future environmental and social capacity building initiatives for clients. It aims to build institutional capacity, market support, and information available for financial intermediaries on how to manage environmental and social issues.
FIRST for Sustainability was supported by contributions from the governments of Finland and Sweden.
A
bout IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
Stay Connected
|
