The World Bank’s standards of corporate social responsibility

The Canadian government’s new policy on corporate social responsibility refers to World Bank standards as the international point of reference on CSR: “The [World Bank’s] International Finance Corporation Performance Standards on Social & Environmental Sustainability address the specific challenges facing extractive sector companies operating in developing countries. They are the de facto performance benchmark for projects in developing countries that require substantial financial investment.”  – Bulding the Canadian Advantage, Dept. of Foreign Affairs and International Trade, March 2009.

There are eight Performance Standards of the World Bank’s International Finance Corporation (IFC):

1: Social and Environmental Assessment and Management System

2: Labor and Working Conditions

3: Pollution Prevention and Abatement

4: Community Health, Safety and Security

5: Land Acquisition and Involuntary Resettlement

6: Biodiversity Conservation and Sustainable Natural Resource Management

7: Indigenous Peoples

8: Cultural Heritage

“These are intended to identify the social and environmental impacts, risks, and opportunities of  projects, to establish effective community engagement through information disclosure and consultation with local communities, to avoid, reduce, mitigate or compensate for impacts on people and the environment, and to improve conditions where appropriate.”

Source :  Upstream Journal


2 Responses to “The World Bank’s standards of corporate social responsibility”

  1. 1 tina March 5, 2010 at 04:07

    Nice post! I really like your posting.
    i will come back to read more of your posts.
    specially about The World Bank’s standards of corporate social responsibility


  1. 1 La Responsabilidad Social Empresarial: ¿Todo programa ayuda al bien común? « Todosomospobres's Blog Trackback on September 29, 2010 at 00:13

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