Issued by International Finance Corporation
The Report incorporates IFC's Sustainability Report & Report to Donors & for the first time features aggregated data on IFC's contribution to development across regions and sectors
IFC, a member of the World Bank Group, has released its first-ever triple bottom line Annual Report, entitled "Creating Opportunity".
The full report plus an online GRI Index are available at IFC’s Annual Report Web site, www.ifc.org/annualreport.
The 2007 Annual Report incorporates IFC’s Sustainability Report and Report to Donors and for the first time features aggregated data on IFC’s contribution to development across regions and sectors. In addition to the statement from the financial auditors, the report includes an independent assurance statement on its non-financial information.
A new section, entitled "How We Work", provides information on IFC and World Bank Group governance, the stages of IFC’s investment and advisory project cycles, and data on staff, executive compensation, and the carbon footprint of IFC’s headquarters.
IFC made investments of over $8 billion for its own account and nearly $4 billion more in loan participations, achieving the strongest financial position in its history.
A groundbreaking new tracking system now captures the economic, financial, social and environmental impacts of IFC’s investments and advisory services.
IFC invested $450 million in renewable energy and energy efficiency through mainstream projects with clean energy components.
Some 182 new projects have been screened against IFC’s updated Environmental and Social Performance Standards since their launch in April 2006. IFC has trained 1,228 employees, including 532 investment staff, to apply the standards.
IFC offset 100 percent of carbon emissions from its headquarters, including travel by Washington-based staff, and has extended its carbon-neutral commitment to cover 50 percent of field offices.
The report is supplemented by online information, including:
Development Impact Results Measurement Portal – www.ifc.org/results.
World Bank Group Progress on Renewable Energy – www.worldbank.org/re.
IFC’s Corporate Footprint Program – www.ifc.org/footprint.
The International Finance Corporation, the private sector arm of the World Bank Group, is the largest multilateral provider of financing for private enterprise in developing countries. IFC finances private sector investments, mobilizes capital in international financial markets, facilitates trade, helps clients improve social and environmental sustainability, and provides technical assistance and advice to businesses and governments. From its founding in 1956 through FY06, IFC has committed more than $56 billion of its own funds for private sector investments in the developing world and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. With the support of funding from donors, it has also provided more than $1 billion in technical assistance and advisory services.
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