The development objectives of Sustainable Energy Technologies Development for Climate Change for Mexico are to improve the institutional capacity of Advanced Clean Energy (ACE) technology institutions (both public and private)in the territory of the recipient and to foster the commercialization of ACE technologies by providing financial incentives to the private sector, which together are expected to lead to Greenhouse Gas (GHG) emissions reduction in the future.
... See More + This second level of restructuring seeks to revise several indicators in the Results Framework (RF). Also, the restructuring adjusts some targets based on the observed demand, which could only be assessed during the implementation stage.
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The development objective of the Justice Sector Institutional Strengthening Project for Kazakhstan are: (a) to strengthen the institutional capacity of Selected Agencies for effective implementation of selected laws, and (b) to improve the efficiency and transparency of, and access to, selected public services in the justice sector.The project is restructured to reflect the authorities’ intention, and to: (i) reduce the project cost while keeping the PDO and the description of the Project unchanged; (ii) modify the project results indicators; (iii) reduce the government contribution from USD 24 million to about USD18 million; and (iv) cancel USD 9 million from the uncommitted IBRD loan proceeds which will not be utilized due to delays and institutional requirements.
... See More + This restructuring proposal is based on this approach and rationale so as to improve project implementation and achievement of results.
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The objective of this note is to facilitate a consistent and comprehensive approach in the analysis of intellectual property rights (IPRs) and normative regulations and conditions related to technology transfer from public to private sector.
... See More + The primary purpose of such analysis is to help policy makers, practitioners, and individual institutions to improve their framework conditions for Technology Transfer within wider efforts to improve the overall national innovation system (NIS). Adopting an innovation ecosystems framework allows policy makers to identify missing links among and across innovation capabilities and institute relevant interventions that could correct market and system failures and ultimately yield better firm productivity and innovation. The diagnostic framework also allows performance benchmarking between technology transfer offices but in the context of the national regulatory environment in which they are operating.
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Market-based sustainable finance initiatives led by members of the Sustainable Banking Network (SBN) have made significant progress in directing the financial sector toward sustainability.
... See More + The SBN Global Progress Report is based on a unique measurement framework, the first of its kind to assess sustainable finance initiatives across emerging markets. The regulatory environment supporting sustainability in Brazil is developed and ambitious, which is consistent with local circumstances, and with the country's involvement in global initiatives and commitments, such as the Earth Summit held in Rio de Janeiro in 1992 (the first major United Nations conference on sustainable development), and in 2012. Sustainable finance initiatives have stemmed from voluntary industry actors, government bodies, and regulators. As early as 1995, the Ministry of the Environment facilitated and supported the commitment of five state-owned banks to voluntary guidelines entitled Protocolo Verde (Green Protocol). The Brazilian Federation of Banks (FEBRABAN) , representing both state-owned and commercial banks, joined the initiative in 2009. In 2014, the Central Bank of Brazil launched die Resolution on Social and Environmental Responsibility, which applies to all financial institutions. FEBRABAN, the Federation of Brazilian Banks, also released a protocol on Social and Environmental Responsibility (SARB14) in 2014. With the support of central bank and banking association, Brazilian financial institutions (Fls) have been advancing environmental, social, and governance (ESG) risk management for almost a decade. To further advance the journey, the sustainable banking industry policy package could now help FIS by providing more practical guidance to assess their ESG risks and set up the appropriate governance of these risks in their organizations.
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This document is a high-level account of discussions held and conclusions reached during theroadshow. It describes 10 learnings attained over the more than two decades of experience in code development in South Africa.
... See More + Under each of these learnings, we present the South African experience as well as experiences shared in the various countries where the roadshow was conducted. The purpose of this document is to provide guidance to IFC staff, regulators, and private institutions (such as institutes for directors and corporate governance) for developing codes of corporate governance in Sub-Saharan African countries and potentially other developing economies. The objective is for the insights shared in this document to support achievement of the following results: a more effective process of code development, code content that will be easier for organizations to implement, a higher degree of commitment by the users of the code and good governance that will result in better outcomes for organizations as well as the communities and countries in which they operate. This guidance document should be read in conjunction with the IFC Toolkit for Developing Corporate Governance Codes of Best Practice. Before sharing the learnings, it is important to understand the context for the application of corporate governance in Africa. This will provide perspective on why some of the learnings are vital. Organizations—the users of codes of corporate governance—operate in a broader context, which King IV calls the “triple context,” consisting of the economy, society, and natural environment in which organizations operate. In Africa, depending on the country, the triple context may appear as economic and political instability, lack of or failing infrastructure, skills shortage, inequality, water and food scarcity due to environmental vulnerability, and corruption. Furthermore, the application of corporate governance is not mature in all African countries. An IFC study on the link between governance and corporate performance examined the degree of African firms’ adherence to certain aspects of corporate governance. If those foundations are weak, it is unlikely that other areas of corporate governance could be strong. However, it is encouraging that, taken together, the firms scored above 50 percent on all five of the dimensions assessed. Organizations in Africa operate in a challenging triple context, and much work must be done to gain maturity in the corporate governance practices they follow. Codes for corporate governance should be cognizant of these realities.
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Amret Co. is a leading microfinance institution in Cambodia serving micro, small and medium enterprises and low-to-middle income populations with a focus on rural areas, agriculture and district and provincial cities.
... See More + Amret was launched in 1991, and obtained a license to operate as a deposit-taking MFI in 2009. Today, it provides a wide range of loan and deposit services to Cambodia women, farmers, small businesses, and households across 25 provinces and 197 operating districts. In March 2014, IFC evaluated Amret’s governance capabilities. Even prior to IFC’s involvement, Amret’s board and executive leadership demonstrated their strong commitment and adherence to good governance beyond compliance with local regulations. The IFC evaluation aimed at helping Amret further enhance the board’s selectiveness, optimize management controls, improve disclosure policies and practices, and develop provisions on shareholder’s rights. Management advanced on its already impressionable CG improvement program by reinforcing governance practices and raising the bar to align with international standards. Authorities were better clarified between the Board and Management. Prior to IFC’s assessment, Amret established an Audit Committee, chaired by an independent director who was nominated by minority shareholders, which met 4 times annually to review internal and external audit functions and ensure compliance with local laws. Additionally, more independent directors with commercial banking, risk management, and local market experience were recruited to improve the Board’s composition and selectiveness of the committees. The company also went above and beyond to strengthen its internal control and risk management systems with the establishment of a Risk Oversight Committee which oversees four management committees that assess credit, operational, strategy, and asset & liability risks.Furthermore, the Board codified its CG policies, developed remuneration and evaluation procedures, and made an attempt to eliminate conflicts of interest with respect to related party transactions and procurement practices with technical vendors. With a strong CG foundation, Amret was a benchmark for other financial institutions in Cambodia and perceived as more transparent and investor-friendly. This culminated in receiving A- ratings from international rating agencies including MicroFinanza and MicroRate.
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