Washington, D.C., March 23, 2011—IFC,
a member of the World Bank Group, announced today that it has become the
first multilateral development bank to sign the United Nations Principles
for Responsible Investment (UNPRI), extending its efforts to mobilize capital
for investments that are environmentally and socially responsible and adhere
to high standards of corporate governance.
IFC’s Asset Management Company also signed the principles, a high-level
framework that demonstrates the signatories’ commitment to integrate environmental,
social, and governance factors into their investment processes. The principles
aim to increase awareness of the importance of managing social, environmental
and governance risks and to provide support in that process through a network
of like-minded institutions.
“Through our Performance Standards, IFC has for many years been setting
the benchmark for how to best consider social and environmental risk when
making investment decisions,” said Rachel Kyte, IFC Vice President for
Business Advisory Services. “Our collaboration with UNPRI will enable
IFC’s approach to be shared by investors across a wider range of asset
classes and have a larger impact promoting sustainable and responsible
IFC brings to its partnership with UNPRI more than 50 years of experience
promoting sustainable and responsible investments in emerging markets.
IFC’s Performance Standards form the basis of the Equator Principles,
the industry standard for banks to manage environmental and social issues
in project financing. IFC Advisory Services also provide advice, problem
solving, and training to companies, industries, and governments to promote
“We are delighted to have the IFC as a formal signatory to the PRI,”
said James Gifford, Executive Director of the Principles for Responsible
Investment. “IFC has, for many years, been a leader in responsible investment
in emerging markets, and we look forward to working with them to demonstrate
to the broader market how responsible investment can deliver strong returns
in a way that also supports sustainable business practices and markets.”
As part of their collaboration, IFC and the UNPRI will initially focus
on three priorities:
- Jointly convene events in emerging markets
to help raise awareness of the business case for responsible investment.
- IFC will support UNPRI work on private
making its procedure for how to manage environmental and social risks available
to other PRI signatories
- IFC and UNPRI will support investors
to link their emerging market investment strategies with the Millennium
Development Goals within a fiduciary, market-return context.
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.
About IFC Asset Management Company
IFC Asset Management Company LLC, a wholly-owned subsidiary of IFC, invests
third-party capital, enabling outside investors to benefit from IFC’s
expertise in achieving strong equity returns as well as positive development
impact in the countries in which it invests. It manages the $3 billion
IFC Capitalization Fund and the $1 billion IFC African, Latin American
and Caribbean Fund.