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Estimated Total Budget Pending (Project budget includes all project-funded activities)
Last Updated Date
Sep 14, 2023
Project Estimated Start Date
Feb 1, 2023
Project Estimated End Date
Jun 30, 2025
Project Description
This IP covers the activities IFC will undertake to improve ESG practices and address ESG bottlenecks to investment by working with firms and service providers. There will be two components:
Component 1: Improve ESG performance of firms, and
Component 2: Build capacity of market intermediaries to provide effective and high-quality ESG services.
Development Results
The project aims to improve ESG practices/performance to reduce ESG bottlenecks and facilitate private sector investments. This will be carried out by providing direct advisory support to firms to improve their ESG practices and developing the capacity of market intermediaries to provide ESG trainings in the Pacific.
Indicator
Cumulative
Number of entities trained by partners
0
Number of entities that implemented recommended changes
0
Sales revenue (US$)
0
Number of entities receiving in-depth advisory services
4
Number of trainers trained
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 is Due Diligence, and as mandated by IFC Sustainability Policy, IFC team will screen the project to assess consistency with IFCs Performance Standards. Environment and social risks will be further reviewed throughout the life-cycle of the project. With low capacity clients in the Pacific region, there is a risk that the client is engaged in activities that have negative E&S impacts or may not have an ESMS in place to identify, mitigate and manage risks.
IFC advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team will assist clients in gaining a good understanding of IFCs Performance Standards, and provide recommendations for appropriate mitigation measures whenever warranted. The AS team will comply with the ESRP for AS and include criteria in the selection of projects that includes client's commitment to improve their ESG performance.
Press-Release
Additional Documents
Similar Projects
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.
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