605069 - Jordan Integrated Environment, Social, and Governance

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Summary of Advisory Services Project Information

Project Number

605069

Primary Business Area

Environment, Social and Governance

Disclosure Date

Sep 5, 2023

Country

Jordan

Region

Middle East

IFC Approval Date

May 30, 2023

Status

Active

Estimated Total Budget

$969,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Sep 14, 2023

Project Estimated Start Date

Jun 1, 2023

Project Estimated End Date

Jun 1, 2026

Project Description

The Project includes three components: Firm-Level: improve ESG performance of companies by advising selected clients in the real and financial sectors. This includes: - Aligning their practices with IFC corporate governance (CG) methodology and Performance Standards (PS), thereby reducing their ESG risks and improving ESG performance. - Strengthening companies’ boards, control environment, risk management, family governance, IESG commitment or developing their Environmental and Social Management Systems (ESMS). Market-Level: build ESG market demand and local capacity by building the capacity of selected local intermediaries. This will help them improve their ability to provide training and advice on ESG (including on the governance of E&S practices). This includes: - Raising awareness on the ESG business case and aligning their CG training with IFC’s updated CG methodology. - Advancing their ability to promote the ‘women on boards’ agenda through training the future pipeline of women directors. Regulatory-Level: support the market regulator, the Amman Stock Exchange (ASE), to strengthen ESG voluntary frameworks for ASE 20 Index 20 listed companies. This includes: - Developing guidance on climate reporting requirements and disclosure for ASE 20 listed companies to follow.

Development Results

Indicator	Cumulative
Number of entities reporting improved performance (e.g., improvements in productivity, accountability, operations, loan terms, valuations)	0
Sales revenue (US$)	0
Number of entities receiving in-depth advisory services	1
Value of financing facilitated (US$)	0
Value of IFC financing facilitated (US$)	0
Number of entities that implemented recommended changes	null
Number of recommended laws/regulations/amendments/codes enacted or government policies adopted	null
Number of workshops, training events, seminars, conferences, etc. conducted with/by partners	null
Number of entities reached by our partners that implemented recommended changes	null
Number of entities trained by partners	null
Number of trainers trained	null
Number of individuals trained by project-trained people and/or institutions	null
Number of new laws/regulations/amendments/codes/government policies drafted, or contributed to the drafting	null
Number of participants in workshops, training events, seminars, conferences, etc.	null
Number of participants providing feedback on satisfaction	null
Number of participants reporting satisfied or very satisfied with workshops, trainings, seminars, conferences, etc.	null
Number of women trained by project-trained people and/or institutions	null
Number of women participants in workshops, training events, seminars, conferences, etc.	null
Number of workshops, training events, seminars, conferences, etc.	null

E&S Risks / Impacts and Mitigation

Performance Standard	Description and Potential Impact	Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts	As part of its Due Diligence process, IFC reviews project risks, including environmental and social (E&S) risks, and assesses the consistency of its advice with IFCs Performance Standards. Based on sector and context specific risks, the project has the potential for E&S risks and/or impacts in relation to its work on promoting ESG standards and practices.	IFC's advice will be provided in a manner consistent with IFCs Performance Standards as defined in IFCs Policy on Environmental and Social Sustainability. Where relevant, IFC will assist the client in defining measures to identify and manage E&S risks and impacts of the business activities supported by the project.

This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein.
It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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