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As part of IFC’s Environmental and Social Review Procedure, all IFC clients including financial institutions are required to report to IFC on an annual basis on their environmental and social performance, from disbursement until the project is closed as an IFC investment. Annual Environmental Performance Reports (AEPRs) from financial institutions must include portfolio information broken down by industry sector and transaction type; implementation of the financial institution’s ESMS; and any significant environmental and social issues or non-compliances associated with individual transactions. The reporting format varies for banking institutions, leasing institutions, microfinance institutions, and private equity funds.

Every year, IFC reviews the Annual Environmental Performance Report (AEPR) submitted by each financial institution client. The review focuses on the following:

  1. The environmental and social risk profile of each client’s portfolio (by transaction type and industry sector);
  2. Assessment of the client’s performance against the applicable IFC environmental and social performance requirements;
  3. Key gaps relating to the client’s performance and Environmental and Social Management System (ESMS); and
  4. Key steps the client may need to take to improve its environmental and social performance.

IFC follows up with each client to discuss gaps and shortfalls in the client’s environmental and social performance; respond to client queries or the need for clarification on applicable IFC environmental and social requirements; and identify any value-added environmental business opportunities.

In doing so, IFC helps its financial institution clients achieve positive development outcomes in emerging markets, thereby putting into practice IFC’s commitment to environmental and social sustainability. This further contributes to IFC’s overall mission and mandate, which is to promote sustainable private sector development in developing countries, helping to reduce poverty and improve people’s lives.

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