607344 - IESG Kenya IESG Kenya MAS and Affordable Housing

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Summary of Advisory Services Project Information

Project Number

607344

Primary Business Area

Environment, Social and Governance

Disclosure Date

Jun 5, 2023

Country

Kenya

Region

Africa

IFC Approval Date

Mar 21, 2023

Status

Active

Estimated Total Budget

$904,000.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 9, 2023

Project Estimated Start Date

Jul 13, 2022

Project Estimated End Date

Jun 30, 2027

Project Description

The project focuses on supporting Kenyan industry associations, market intermediaries and private sector entities, predominantly in the agribusiness, manufacturing and affordable housing sectors on the improvement of ESG standards and uptake of good ESG practices. It will conduct activities across three components: (1) ESG Guidelines Development: IFC will support the National Environmental Management Agency (NEMA) to support them in developing ESG guidelines to be implemented on voluntary basis by private sector entities operating in priority sectors. The guidelines aim to provide guidance to the private sector in adopting good environment and social risk management as well as good corporate governance practices. (2) Build market demand and capacity: IFC will raise awareness on the importance and business case for good ESG risk management practices. It will also develop a training course to equip private sector participants with foundational knowledge on ESG. (3) Provide hands on support to individual firms: in-depth and customized advice to IFC potential and existing investees which may include diagnostics/assessments, training, development of ESG policies and guidance on implementation of good ESG practices in alignment with the IFC Performance Standards and Corporate Governance methodology.

Development Results

The overall goal of the Project is to address key constraints to the uptake of ESG good practices in the financial Sector by enhancing ESG standards, ESG knowledge and ESG performance. This will be done by developing an ESG framework for the agribusiness, manufacturing and affordable housing sectors and building the capacity of ESG intermediaries at the market level and equipping companies with ESG best practices and tools at firm level.

Indicator	Cumulative
Number of entities accessing investment/financing	0
Number of entities reporting improved performance (e.g., improvements in productivity, accountability, operations, loan terms, valuations)	0
Sales revenue (US$)	0
Value of IFC financing facilitated (US$)	0
Value of 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 entities receiving in-depth advisory services	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	The risk impact is assessed as a medium as the scope of the advisory activities will include advice related to E&S, including as relating to improving the alignment between national standards with the Performance Standards and alignment between client ESG risk management practices with the Performance Standards. There is a potential reputational risk to IFC if an AS client engages in activities that have negative environmental or social consequences. This risk is deemed to be negligible given the nature of the advisory services we will be providing (to recommend ESG improvements).	To mitigate the risk of inconsistency of the advice delivered with the Performance Standards: the advice will be delivered by seasoned IFC E&S staff and consultants, consistent with the Performance Standards, and subject to quality control from CEG RTLs and/or E&S specialists with experience as LESS.

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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