Help
PILLARS
Indicators for global benchmarking of sustainable finance
STRATEGIC ALIGNMENT Alignment with global E&S standards and best market practices
  • Alignment with global E&S standards and best market practices

    BangladeshBrazilCambodiaChinaColombiaEcuadorGeorgiaIndonesiaKenyaMexicoMongoliaMoroccoNepalNigeriaPakistanPanamaParaguayPeruSouth AfricaSri LankaTurkeyVietnam

    Does the framework make reference to international E&S targets (SDGs, Paris Agreement, Global Compact)?

    Answer Source Reference
    • (2) - Page 3 - Message from Governor

    • (4) - Introduction

    • (2) - page 3 - 1.2.

    • (3) - 4.21.3 & (4)

    • N/A

    • N/A

    • (1) - Global Development in Sustainable Finance - p.3

    • (1) - page 9 - III.3 - §1

    • (1) - page 18 (2) page iv §2 and vi §2

    • (1) - Page 4 - Paragraph 4

    • N/A

    • (1) - page 8 (§3) and 16 (III., §3) (3) - page 12 & 13 (2) - Annex 1

    • N/A

    • (1) - Principle 8 page 28, §7 "Commit to international standards and best practice initiatives"

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) 1.1 Background (2) Sri Lankan Sustainable Banking Principles https://www.sustainablebanking.lk/industry-guiding-principles

    • (1) - page 17

    • N/A

    Does the framework make reference to established international E&S risk management standards (IFC PSs, EPs)?

    Answer Source Reference
    • (2) - Page 11 - 5.

    • (3) - Section II - Article 14 - Sub-paragraph 2

    • (2) - Page 3 - 1.2.

    • N/A

    • (1) - General Features - Reference standards

    • N/A

    • (1) - ESG Risk Management - p.10

    • (3) - page 3 - §2

    • (1) - page 16 and 18

    • (1) - Page 4 - Paragraph 2

    • (1) - Principle 1 - Relevant international standards - p.7

    • (5) - 3. "Principes de l'Equateur" p11

    • Chapter 2&6

    • (1) - page 5, §5 " Incorporate relevant international E&S standards and industry best practice" Sector Guidelines (Power, Oil & Gas and Agriculture)

    • N/A

    • (2) - 2. Análisis de Riesgos Ambientales y Sociales 2.

    • N/A

    • (2) - Page 6 - Regulatory Scope

    • N/A

    • (1) 3.2.2 ESG Risk Management

    • (1) - page 13

    • N/A

    Does the framework make reference to established international sustainability reporting standards (GRI, SASB)?

    Answer Source Reference
    • (1) - Page 5 - 3.2.

    • (4) - Introduction

    • (2) - Page 24 - 9.2.

    • N/A

    • (1) - General Features - Reference standards

    • N/A

    • (1) - Transparency and market Discipline - p.11

    • (3) - page 3 - §2

    • (1) - page 17

    • (2) - Page 2

    • (1) - Principle 7 - Relevant international standards - p.23

    • N/A

    • N/A

    • (1) - Principle 8 page 28, §7 "Commit to international standards and best practice initiatives"

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) 3.2.1 ESG Disclosure - For financial institutions

    • (1) - page 13

    • N/A

    Does the framework make reference to established international climate finance reporting standards (TCFD)?

    Answer Source Reference
    • N/A

    • (5) - 1) Introduction

    • (2) - Page 3 - 1.2.

    • N/A

    • (1) - General Features - Reference standards

    • N/A

    • (1) - Transparency and market Discipline - p.11

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) 3.2.1 ESG Disclosure - For financial institutions

    • N/A

    • N/A

    Does the framework ask to make E&S policies, practices and results externally verified (assurance, independent review)?

    Answer Source Reference
    • (1) - Page 5 - 3.2.

    • N/A

    • (2) - Page 24 - 9.3.

    • (1) - Chapter IV, 24 (page 5) (4) - Article 8

    • N/A

    • N/A

    • N/A

    • (2) - page 18 - I. 2. g.

    • N/A

    • N/A

    • (1) - Principle 6 - Demonstrating process - p.23

    • N/A

    • N/A

    • (1) - Principle 6 page 25, §2 "Establish internal and, where appropriate, external E&S audit procedures" and 4th line of tab "Demonstrating progress", Principle 9 page 32 "Internal reporting system" and "External reporting"

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • N/A

    • (1) - page 14

    • N/A

Source Reference
(2) - Page 3 - Message from Governor

Guidelines on E&S Risk Management - Page 3 - Message from Governor

Source Reference
(4) - Introduction

Source Reference
(2) - page 3 - 1.2.

Implementation Guidelines V4 - page 3 - 1.2.

Source Reference
(3) - 4.21.3 & (4)

Global Compact

Source Reference

Source Reference

Source Reference
(1) - Global Development in Sustainable Finance - p.3

- To achieve a better and more sustainable future for all, in 2015 countries from around the world agreed to adopt UN Agenda for Sustainable Development and the Paris Agreement on Climate Change. The UN 2030 Agenda has at its core 17 Sustainable Development Goals (SDGs). Georgia is a part of both initiatives.

Source Reference
(1) - page 9 - III.3 - §1

Source Reference
(1) - page 18 (2) page iv §2 and vi §2

Sustainable Finance Guiding Principles - page 18 National Policy on Climate Finance (p. iv §2 and vi §2)

Source Reference
(1) - Page 4 - Paragraph 4

Source Reference

Source Reference
(1) - page 8 (§3) and 16 (III., §3) (3) - page 12 & 13 (2) - Annex 1

Source Reference

Download country progress reportDownload

Source Reference
(1) - Principle 8 page 28, §7 "Commit to international standards and best practice initiatives"

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference
(1) 1.1 Background (2) Sri Lankan Sustainable Banking Principles https://www.sustainablebanking.lk/industry-guiding-principles

- In 2015, the United Nations (UN) introduced the Sustainable Development Goals (SDGs) to address these challenges and to call for action by all countries to promote prosperity while protecting the planet. The recently released Special Report of the Intergovernmental Panel on Climate Change (IPCC)1 further highlighted the urgency of meeting the goals set by the Paris Agreement and limiting global warming to 1.5 degrees Celsius. - The Principles are based on leading international sustainable finance standards, and tailored to the Sri Lankan context and development needs

Source Reference
(1) - page 17

Sustainability Guidelines for the Banking Sector - page 17

Source Reference

Source Reference
(2) - Page 11 - 5.

Guidelines on E&S Risk Management - Page 11 - 5.

Source Reference
(3) - Section II - Article 14 - Sub-paragraph 2

Source Reference
(2) - Page 3 - 1.2.

Implementation Guidelines V4 - Page 3 - 1.2.

Source Reference

Source Reference
(1) - General Features - Reference standards

(2) - Normas de Desempeno de la IFC sobre sostenibilidad Ambiental y Social

Source Reference

Source Reference
(1) - ESG Risk Management - p.10

There has been growing global convergence of ESG risk management standards among public and private financial institutions in the past decade, including IFC’s Performance Standards and the Equator Principles which reference them

Source Reference
(3) - page 3 - §2

The Equator Principles (EP) which are observed by 70 financial institutions committed to not provide loans to projects worth USD 10 million or more if the prospective debtor does not comply with the prevailing social and environmental regulations and follow procedures established by the EP.

Source Reference
(1) - page 16 and 18

Sustainable Finance Guiding Principles - page 16 and 18

Source Reference
(1) - Page 4 - Paragraph 2

Source Reference
(1) - Principle 1 - Relevant international standards - p.7

- IFC Performance Standards 1 (Assessment of Environmental and Social Risks and Impacts), 3 (Resource Efficiency and Pollution Prevention), and 6 (Biodiversity Conservation and Sustainable Management of Living Resources) (Link) - IFC Environmental, Health and Safety Guidelines (Sector-specific) (Link) - Equator Principles (Link) - EBRD Performance Requirements (Link) - ISO 14001 – Environmental Management (provides practical tools for companies and organisations looking to identify and control their environmental impact and improve their environmental performance.) (Link)

Source Reference
(5) - 3. "Principes de l'Equateur" p11

Source Reference
Chapter 2&6

The Guideline requires all B/FIs engaging in the types of transactions mentioned above to develop and implement an Environmental and Social Management System (ESMS) consistent with local environmental and social laws and regulation and overtime with recognized international standards such as IFC’s Performance Standards on Environmental and Social Sustainability and the Equator Principles.

Source Reference
(1) - page 5, §5 " Incorporate relevant international E&S standards and industry best practice" Sector Guidelines (Power, Oil & Gas and Agriculture)

Source Reference

Source Reference
(2) - 2. Análisis de Riesgos Ambientales y Sociales 2.

Source Reference

Source Reference
(2) - Page 6 - Regulatory Scope

Source Reference

Source Reference
(1) 3.2.2 ESG Risk Management

Global standards and guidelines such as IFC Performance Standards can serve as a reference to assess ESG risk at the project level

Source Reference
(1) - page 13

Sustainability Guidelines for the Banking Sector - page 13

Source Reference

Source Reference
(1) - Page 5 - 3.2.

Policy Guidelines for Green Banking - Page 5 - 3.2.

Source Reference
(4) - Introduction

Source Reference
(2) - Page 24 - 9.2.

Implementation Guidelines V4 - Page 24 - 9.2.

Source Reference

Source Reference
(1) - General Features - Reference standards

Source Reference

Source Reference
(1) - Transparency and market Discipline - p.11

Those principles are being created based on different international standards on sustainability disclosure, such as: Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), UN Principles for Responsible Investment (PRI) Reporting Framework 2018, Global Reporting Initiative (GRI), etc

Source Reference
(3) - page 3 - §2

The Global Reporting Initiative (GRI) is another international initiative.The GRI guidelines were adopted from the UN Environment Programme (funded by the UN Development Fund), and serves as one of the guidelines in developing sustainability reports.

Source Reference
(1) - page 17

Sustainable Finance Guiding Principles - page 17

Source Reference
(2) - Page 2

Source Reference
(1) - Principle 7 - Relevant international standards - p.23

- GRI Guidelines for the Financial Sector highlights best practice reporting for sustainability issues specifically for a Bank’s Business Activities. (Link) - GRI International Reporting Guidelines, G4 is the latest version of internationally accepted best practice in sustainability reporting. A number of different sector supplements can be useful in assessing client transparency and accountability progress. (Link)

Source Reference

Source Reference

Source Reference
(1) - Principle 8 page 28, §7 "Commit to international standards and best practice initiatives"

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference
(1) 3.2.1 ESG Disclosure - For financial institutions

disclose sustainability policies and programs implemented within the organization. Internationally recognized reporting frameworks, such as Global Reporting Initiative (GRI) and CDP reporting frameworks and Task Force on Climate-related Financial Disclosures (TCFD) recommendations could be references.

Source Reference
(1) - page 13

Sustainability Guidelines for the Banking Sector - page 13

Source Reference

Source Reference

Source Reference
(5) - 1) Introduction

Source Reference
(2) - Page 3 - 1.2.

Implementation Guidelines V4 - Page 3 - 1.2.

Source Reference

Source Reference
(1) - General Features - Reference standards

Source Reference

Source Reference
(1) - Transparency and market Discipline - p.11

Those principles are being created based on different international standards on sustainability disclosure, such as: Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), UN Principles for Responsible Investment (PRI) Reporting Framework 2018, Global Reporting Initiative (GRI), etc

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference
(1) 3.2.1 ESG Disclosure - For financial institutions

disclose sustainability policies and programs implemented within the organization. Internationally recognized reporting frameworks, such as Global Reporting Initiative (GRI) and CDP reporting frameworks and Task Force on Climate-related Financial Disclosures (TCFD) recommendations could be references.

Source Reference

Source Reference

Source Reference
(1) - Page 5 - 3.2.

Policy Guidelines for Green Banking - Page 5 - 3.2.

Source Reference

Source Reference
(2) - Page 24 - 9.3.

Implementation Guidelines V4 - Page 24 - 9.3.

Source Reference
(1) - Chapter IV, 24 (page 5) (4) - Article 8

"Article 8 The responsibilities of the Green Bank Evaluation Expert Group are: review and approve the green bank evaluation implementation plan" "If necessary, banks may engage qualified and independent third party to conduct evaluation or audit on banks’ fulfillment of E&S responsibilities."

Source Reference

Source Reference

Source Reference

Source Reference
(2) - page 18 - I. 2. g.

Source Reference

Source Reference

Source Reference
(1) - Principle 6 - Demonstrating process - p.23

In order to demonstrate progress in implementing this principle, a Bank should: • Develop a policy approach on ethical finance and corporate governance which includes: Any performance related incentives, internal and external audit requirements, and governance responsibility and escalation criteria for risk committees.

Source Reference

Source Reference

Source Reference
(1) - Principle 6 page 25, §2 "Establish internal and, where appropriate, external E&S audit procedures" and 4th line of tab "Demonstrating progress", Principle 9 page 32 "Internal reporting system" and "External reporting"

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference

Source Reference
(1) - page 14

Sustainability Guidelines for the Banking Sector - page 14

Source Reference

Sign In

Email
Password

Sign Up Forgot your password?

submit

SIGN UP

Last Name
First Name
Email Address
Job Title
Organization
set password
Password
Confirm Password

Existing accountLogin In

submit

Retrieve Password

Email
New Password
Confirm Password

Registered

submit