IDB Invest Environmental and Social Sustainability Policy
IDB Invest has a new Environmental and Social Sustainability Policy. It was approved by the Board of Directors on April 10, 2020, and it became effective on December 15, 2020. The new policy is the result of over two years of inclusive and constructive dialogue with multiple stakeholders through a comprehensive public consultation.
The purpose of the new Policy is to enhance the environmental and social sustainability of IDB Invest’s financed projects through the application of robust risk management standards. The new policy exemplifies IDB Invest’s commitment to sustainable development, as the foundation of its approach to risk management.
What are the main changes in the policy?
IDB Invest decided to strengthen its policy focusing on a single set of standards, providing more clarity regarding roles and responsibilities, and outlining new priority areas. Among the featured changes are the following:
- Increased focus on human rights and stakeholder engagement, including the implementation of an Engagement and Grievance Mechanism.
- Increased focus on gender and gender identity.
- Greater protection for Indigenous Peoples particularly those in voluntary isolation.
- New section on disaster risk management.
- Increased focus on climate change and low-carbon development.
- Clarity about IDB Invest’s role and clients’ responsibilities and our approach to all new direct investments and FIs.