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EDFI is the Association of European Development Finance Institutions (“EDFIs”), a group of 16 bilateral investment organisations which provide finance for private sector companies in developing and reforming economies.
Our aim is to have a positive impact on the local communities where we invest. We also strive to ensure respect for human rights and environmental sustainability.
Responsibly managed companies, supported by EDFI members, play a vital part in environmental, social and economic development: they employ and train people, pay taxes, build and operate infrastructure and services. Such businesses set an example for other companies. They also generate sustainable economic growth, which benefits the poor.
Our collaboration includes EDFI’s Harmonised ESG Standards in relation to the Environment, Social Matters and Governance (“ESG”) in investment activities.
The EDFI institutions:
Cologne, May 7, 2009
1.* Harmonised EDFI Environmental and Social Standards encompass
(a) Environmental and Social Category Definitions,
(b) Requirements for Environmental and Social Due Diligence, Environmental and Social Contractual Requirements and Monitoring and
(c) An Exclusion List, all of which will be reviewed regularly.
2.** Governance Standards such as stated in the DFI Approach Statement for Good Corporate Governance adopted in 2007, referring to the structure and processes for the direction and control of companies.
3.*** When investing through intermediaries such as financial institutions or funds, we require these third paries to implement systems to guarantee adherence to our standards.
4.**** Our benchmarks are the UN Declaration of Human Rights, the ILO Core Conventions and the IFC Performance Standards on Economic and Social Sustainability and associated Environmental and Health & Safety Guidelines.