The document summarizes key data and developments regarding progress towards achieving the UN Sustainable Development Goals (SDGs) in Organization of Islamic Cooperation (OIC) countries. It notes that 42 OIC countries have submitted Voluntary National Reviews of their SDG implementation between 2016-2019. It also provides data on OIC countries' scores on the SDG Index, Human Capital Index, levels of financial inclusion, and economic growth rates, finding mixed progress across countries but with most having work still to do to achieve the 2030 targets.
This is a presentation given on 5 Dec 2008, in the EXFT2009 class of WFU MBA. It was given as part of a Foreign Investment investigation project for Dr. Chuck Kennedy's BGE class.
Africa is Rising - Presentation at IMANI Ghana annual lecture -SYPALA 2015metisdecisions
Africa is rising- where is the evidence? This presentation provides just that; evidence, to support the proposition that indeed, Africa has made progress, albeit more needs to be done several fronts. The text also focus on what the roe of entrepreneurship ought to be given the stark evidence of inequality and poverty that still pertains.
This is a handbook for businesses and other stakeholders that value social responsibility, economic growth and healthy business environments. These crucial issues in the present world cannot be solved by a company or government in isolation, and should be addressed as a pervasive concern that every participant in the global economy needs to tackle. It is with such a view that EBAC introduces the Responsible Business 2.0 model in this handbook, and aligns this framework with the goals in order to achieve a global, inclusive and sustainable development
This is a presentation given on 5 Dec 2008, in the EXFT2009 class of WFU MBA. It was given as part of a Foreign Investment investigation project for Dr. Chuck Kennedy's BGE class.
Africa is Rising - Presentation at IMANI Ghana annual lecture -SYPALA 2015metisdecisions
Africa is rising- where is the evidence? This presentation provides just that; evidence, to support the proposition that indeed, Africa has made progress, albeit more needs to be done several fronts. The text also focus on what the roe of entrepreneurship ought to be given the stark evidence of inequality and poverty that still pertains.
This is a handbook for businesses and other stakeholders that value social responsibility, economic growth and healthy business environments. These crucial issues in the present world cannot be solved by a company or government in isolation, and should be addressed as a pervasive concern that every participant in the global economy needs to tackle. It is with such a view that EBAC introduces the Responsible Business 2.0 model in this handbook, and aligns this framework with the goals in order to achieve a global, inclusive and sustainable development
How far has Africa gone in achieving sustainable development goals? Exploring...Olutosin Ademola Otekunrin
The dataset describes the status of African countries on the
attainment of Sustainable Development Goals (SDGs). Datasets on SDG Index (SDGI) scores and other selected variables were
compiled from relevant secondary sources. Graphical illustrations
were used to describe the type of association existing between the
SDGI scores and each of the selected variables to corroborate. Further rigorous statistical analysis can be carried out using these data, in conjunction with other datasets to establish scientifically proven cause and effect relationships among the variables.
Analysis about GDP and Economic Growth in Iran and other countries.
Iran economic growth estimation in 2016-2017
references : IMF and World Bank data + Iran Central Bank
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
SDGs in OIC Countries: Data, Finance and Implementation
1. SDGs in OIC Countries:
Data, Finance and Implementation
1
@wbg2030
worldbank.org/sdgs
Durham University
22 July 2019
Mahmoud Mohieldin
Senior Vice President
World Bank Group
2. 1. Global Megatrends
2. From the MDGs to the SDGs
3. Developments in the OIC
4. Achieving the SDGs
5. Islamic finance and the SDGs
6. Business and Society
Table of contents
2
3. Shifts in the global
economy
Climate Change
Urbanization
Demographic
Transitions
Renewed debate
about globalization
Technological changes
Fragility
and violence
Market volatility
and commodity cycles
Opportunities and
Challenges
Source: Forward Look 2016
1. Megatrends
3
4. MDGs (2000-2015) SDGs (2016-2030)
Goals 8 17
Targets 21 169
Indicators 60 ~230
Priority Areas Human Development Holistic: Economic, Social, Environmental
Scope Developing Countries Universal
2. The global development agenda: The MDGs to the Sustainable
Development Goals (SDGs)
4
5. ENSURE STRONG GOVERNMENT INVOLVMENT
INCREASE EFFICIENT ALLOCATION OF RESOURCES
LOCALIZE IMPLEMENTATION
IDENTIFY INTERRELATEDNESS OF GOALS AT ONSET
IMPROVE POLICY COORDINATION
INCREASE CROSS-INSTITUTIONAL COLLABORATION
PROMOTE QUALITY DATA (2000-2015)
(2016-2030)
5
2. From MDGs to SDGs: Lessons Learned
14. Invest in
resilience (incl.
social protection)
Invest in
infrastructure
Invest in
human capital
Enablers
Achieving the SDGs
Finance Data Implementation
3. Leveraging the potential of disruptive changes requires a comprehensive
policy framework
14
15. "Human capital" – the potential of individuals – is going to be the most
important long-term investment any country can make for its people’s future,
prosperity and quality of life
4. Invest in Human Capital
15
Human
Capital:
Main
indicators
Survival – Will
kids born today
survive to
school age?
Health – Will kids
leave school in good
health and be ready
for further learning
and/or work?
School – How
much school will
they complete and
how much will
they learn?
Human
Capital
Project:
Main
Objectives
Build demand for more and better
investments in people
Improve how we measure human
capital
Help countries strengthen HC strategies &
investments for rapid improvements in
outcomes
16. Resilience is the ability to manage the
wide range of shocks and stresses which
may occur:
• Natural
• Technological, or
• Socioeconomic
Examples of investments include:
• Expansion of social protection coverage while
giving priority to the poorest people
• Strengthening of all aspects of climate and
disaster resilient development, including
coordinating institutions, risk identification
and reduction, preparedness, financial and
social protection, and resilient reconstruction
4. Invest in Resilience
16
18. In low income countries, only 12 percent of people use the internet, but usage is growing.
4. Invest in Digital Infrastructure
18
19. EFFECTIVE
IMPLEMENTATION
ADEQUATE DATA
Provide integrated
solutions and work
across
sectors/ministries
Ensure availability of
household budget
surveys in 78 poorest
countries every three
years; data revolution;
statistical capacity
building
BETTER
FINANCING
Domestic resource
mobilization; leveraging
private sector;
addressing needs of
regional and global
public goods
4. What will the SDGs require?
Data, finance and implementation
19
20. Japan as an example:
Japan’s goals are interlinked to SDG 1
4. The SDGs are interlinked
Data is critical to understanding those relationships
20
21. 0
5
10
15
20
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Seventy-eight of 169 SDG targets describe
potentially assessable outcomes for Canada
Quantified SDG target Canadian national target
Proxy target Not able to assess
Source: “Counting who gets Left Behind” Brookings report, 2018
4. Data availability is a universal challenge
21
22. To meet the investment needs of the SDGs, the global
community needs a paradigm shift - move the
discussion from “billions” in ODA to the “trillions” in
investments of all kinds
Achieving the SDGs will require the best possible use
of each available grant dollar, beginning with ODA
from governments and philanthropy, remittances,
South-South flows, other ODA, and FDI
To reach the needed trillions, additional flows must
come from two main pillars: public domestic resources
and private sector finance
2017
2017
712
440200
Source: World Investment Report, UNCTAD, 2018, https://unctad.org/en/PublicationsLibrary/wir2018_en.pdf
4. Financing the SDGs
22
23. 23
• In 2030, EMEs would need to spend 4% of GDP ($2.1 trillion) more than they did in
2016, while LIDCs would need to spend 15.4% more ($0.5 trillion)
• Most EMEs would be able to finance the additional spending on SDGs by mobilizing
their own resources
• However, the shortfall for LIDCs will be very large, as their fiscal space is limited
• LIDCs would have to rely on alternative sources of funding, mostly beyond their
direct control: private financing, philanthropy, and—critically—advanced economies
delivering on their official ODA targets
4. Financing the SDGs will need to come from multiple sources
24. 1. Preschool education
2. Primary and secondary school
3. Health care
4. Social assistance and poverty alleviation
5. Public order and civil protection
6. Infrastructure and public services
7. Environment protection
8. Social, cultural, recreational expenditures
9. Local economic development
10. Social housing
11. Urban development
12. Civil security
13. Transfer to sub-local government entities
14. Subsidies, grants, equity, in-kind)
15. Loan repayment
16. Interest charges
17. Guarantees called (paid by the municipality)
1. Property tax (rates) on land and/or buildings
2. Tax on the transfer of immovable property
3. Tax on motor vehicles
4. Local sales tax and/or tax on the sale of local products (or surcharge)
5. Tax on local businesses and services
6. Tax on electricity consumption (surcharge)
7. Tax on nonmotorized vehicles
8. Tax on tourism, hotels, restaurants, and entertainment
9. Tolls on roads, bridges, etc., within the limits of the local government
10.Charges for public works and public utilities such as waste collection, drainage, sewerage, and
water supply
11.Charges for markets and rents for market stalls
12.Charges for the use of bus stations and taxi parks
13.Fees for approval of building plans and erection and re-erection of buildings
14.Fees for fairs, agricultural shows, industrial exhibitions, tournaments, and other public events
15.Fees for licensing of businesses, professions, and vocations
16.Fees for other licenses or permits and penalties or fines for violations
17.Fees for advertisement
18.Fees on sales of animals in cattle markets
19.Fees for registration and certification of births, marriages, and deaths
20.Fees for education and health facilities established or maintained by the local government
21.Fees for other specific services rendered by the local government
22.Rent from land, buildings, equipment, machinery, and vehicles
23.Surpluses from local commercial enterprises
24.Interest on bank deposits or other funds
Expenses Revenues
4. Sample municipal budget
24
25. U.K. Midlands:
Successful locally owned businesses help
develop local markets, create
innovation, success and redistribution in
a self-reinforcing cycle
Tunisia:
E-government services and portal
stimulates citizen engagement
and policy discussions
Big Data Hackathon (2017)
encourages start-ups and
institutions to make Big Data
innovations
Ghana:
MasterCard and IFC use big
data to promote access to
financial services for the
poor
Indonesia:
A program is being implemented to
enhance the capacity of local
governments to improve efficiency
and effectiveness of local public
spending. Also implemented the
PNPM program: community driven
development
Kenya:
Open data initiative makes
government data available to
the public E-government
portal facilitates ‘one stop
shop’ for citizens
Egypt:
Government services
development program
provides speedy delivery on
such as education enrolment
and legal services
Colombia:
4. Localization and Implementation
25
26. 1. Sequencing implementation of goals within context of national priorities
2. Working in partnership to determine national development strategy
3. Coordination within governments; across and within ministries
4. Securing enough financial resources and efficiently allocating them
5. Data availability and institutional capacity
6. Localization and implementation of the goals at the local level
7. Incorporating and mainstreaming gender
8. Integrating action on climate change
4. High-Level Political Forum
Countries’ Most Frequently Identified Priority Areas
26
30. Source: Naveed, Sukuk: Asset Securitization Based on Shari’a Principles, 2015
5. Can sukuk be used for infrastructure investment?
30
31. 1
• Asset–backed nature of sukuk
2
• The link between underlying asset`s revenue and sukuk investor`s return
3
• Infrastructure financing is a leading reason for sukuk issuance
4
• Sukuk enables risk-sharing in high-risk development projects
5
• Sukuk offers flexible structures for different phases of development projects
6
• Sukuk might enhance Public-Private Partnership structures
7
• A wider investor base for Sukuk
5. Sukuk: A viable instrument for development finance
31
32. Usage Example
Fiscal support Sudan: Over $100 million of Sukuk issued in 2012 to raise funds for the government
Liquidity
management
Bahrain, Gambia and Brunei: Short-term Sukuk as tools of liquidity management
Education
Osun State, Nigeria: Local currency, sub-sovereign Sukuk issue ($62 million
equivalent) for the construction and rehabilitation of 24 schools in 2013
Health
World Bank: Global Sukuk for $500 million raised by International Financial Facility
for Immunization to fund the supply of vaccines to some of the world’s poorest
nations in 2014
Infrastructure
Saudi Arabia: Global Sukuk for $1.7 billion to finance electricity projects in 2010.
Malaysia: Global Sukuk for $300 million to finance the Klang Valley Rapid Mass Transit
Project
Environment
Malaysia: The World’s first green sukuk launched in 2017 to finance sustainable,
climate-resilient growth
5. Role of Sukuk in financing sustainable development
32
33. SDG Bonds
IFC’s Social
Bond Program
Equity-linked bonds that link returns
to the performance of companies
advancing global development
priorities
Some instruments are structured in a manner that may be compliant with Islamic
finance. World Bank Group examples include:
5. Examples from “conventional instruments”
Source: World Bank Group Treasury, Press Release from 03/09/2017 33
34. Source: World Bank Group Treasury, Press Release from 03/09/2017
The index composition follows a 3-step methodology to
select companies from the overall investment universe
(developed country companies assessed by VigeoEiris):
50 Companies (rebalanced annually)
5. Equity-Index linked bonds
Step 1
Step 2
Step 3
Exclusion of companies
Selection of companies contributing to the SDGs
Final selection based on sustainability for equity index investing
Exclusion of companies
+ with a VigeoEiris ESG score below the regional
average
+ involved in alcohol, armament, gambling, nuclear,
pornography or tobacco, or in critical controversies
about the environment, human and labour rights
+ that are part of the most intensive carbon emitters
unless they have a robust energy transition strategy
Selection of companies contributing to the SDGs
+ a significant part of their activity dedicated to
sustainable products
+ or a leading sustainable behaviour in their sector
Final selection based on suitability for equity index
investing
+ liquidity filter (Average Daily Volume for1 and 6
months above 10 million USD or EUR)
+ low volatility filter (The 50 stocks with lowest
volatility meeting diversification constraints)
+ geographical and sectorial diversification (max.
25% stocks from the same sector; min. 10% and max.
50% stocks from the same region - Europe, America,
Asia)
+ equally-weighted
+ volatility control (10% volatility cap for USD; 8% for
EUR)
+ adjustment factor (3% p.a.)
34
35. The index consists of 50
companies. The graph shows the
current index composition
mapped against each companies’
contribution to each of the 17
SDGs.
Source: VigeoEiris, Solactive (For illustrative purposes only.)
5. Index composition
35
36. Source: IFC Social Bond Program Presentation, 2017
Bond
structure
5. IFC’s social bond program
01
02
03
04
Smallholder farming
More affordable health, education,
utilities or housing services
Goods and services
Access to telecommunication and
payment platforms
05Lending to financial intermediaries;
proceeds of which must be on-lent to
women-owned enterprises
Projects will generally involve support for low-income populations, in
the areas of:
36
37. 1. Define strategic
impact objectives
consistent with the
investment strategy
3. Establish the investor’s
contribution to the
achievement of impact
4. Assess the expected impact
of each investment, based on a
systematic approach
5. Assess, address, monitor
and manage the potential risks
of negative effects of each
investment
6. Monitor the progress
of each investment in
achieving impact against
expectations and respond
appropriately
Independent verification
9. Publicly disclose alignment with the principles and provide regular independent verification of the extent of alignment
7. Conduct exits,
considering the effect on
sustained impact
8. Review, document and
improve decisions and
processes based on the
achievement of impact and
lessons learned
5. Investing for impact: 9 Principles
Strategic intent
2. Manage strategic
impact and financial
returns at portfolio level
Origination &
Structuring
Portfolio
management
Impact at exit
Source: Investing for Impact: Operating Principles for Impact Management, IFC, 2018
37
Investments of all kinds: public and private, national and global, in both capital and capacity.
Public domestic resources, where the most substantial development spending happens, and private sector finance and investment, the largest potential source of additional funding.
Exclusion of companies
+ with a VigeoEiris ESG score below the regional average
+ involved in alcohol, armament, gambling, nuclear, pornography or tobacco, or in critical controversies about the environment, human and labour rights
+ that are part of the most intensive carbon emitters unless they have a robust energy transition strategy
Selection of companies contributing to the SDGs
+ a significant part of their activity dedicated to sustainable products
+ or a leading sustainable behaviour in their sector
Final selection based on suitability for equity index investing
+ liquidity filter (Average Daily Volume for1 and 6 months above 10 million USD or EUR)
+ low volatility filter (The 50 stocks with lowest volatility meeting diversification constraints)
+ geographical and sectorial diversification (max. 25% stocks from the same sector; min. 10% and max. 50% stocks from the same region - Europe, America, Asia)
+ equally-weighted
+ volatility control (10% volatility cap for USD; 8% for EUR)
+ adjustment factor (3% p.a.)
Offers investors an opportunity to finance IFC projects that aim to address access to essential services, income generation etc. to underserved target populations
The program incorporates the four core components of the Green Bond Principles as recommended by the Social Bond Guidelines:
I.Use of proceeds -Investments in companies that source directly from smallholder farmers; provide utilities that provide for low-income households; offer affordable health services, education, or housing to low-income people, lending to financial intermediaries with the requirement that the proceeds of IFC’s loan be on-lent to women-owned enterprises
II.Process for project evaluation and selection -selected from IFC’s loan portfolio by specialists
III.Management of proceeds –proceeds segregated and invested by IFC’s Treasury in accordance with IFC’s liquid asset management investment guidelines
IV.Reporting -On an annual basis, IFC will publish the list of projects which have received funding from social bond proceeds in the previous year. Subject to confidentiality approvals
Eligible Projects will generally involve investments in:
Companies that source directly from smallholder farmers
Utilities (e.g. Electricity, gas, water) that provide low-income households with better access to services
Companies that provide health or education services, or housing to low-income populations in more affordable ways
Companies that provide goods and services to low-income populations
Companies that provide access to telecommunication and payment platforms in markets that include the low-income segment
Lending to financial intermediaries with the requirement that the proceeds of IFC’s loan be on-lent to women-owned enterprises
How were the Principles developed? The Principles were developed by the International Finance Corporation (IFC), drawing on its own impact management practices, and consulting with a range of asset owners, asset managers, asset allocators, multilateral development banks (MDBs), and development finance institutions (DFIs), including the collaborating institutions listed in this guide.
The Principles draw on emerging best practices across a range of public and private institutions that are investing for impact. These include MDBs and DFIs that have both financial and development impact objectives, and decades of experience investing for impact in emerging markets. The Principles also draw on the more recent experience of specialist impact funds and asset managers that have developed robust impact management systems. In addition, they build on industry-wide initiatives around impact management, including the Impact Management Project (IMP).
How can the Principles be used, and by whom? The Principles are intended to be a reference point for investors for the design and implementation of their impact management systems. They may be implemented through different types of systems, which are designed to be fit for purpose for different types of institutions and funds. They do not prescribe specific tools and approaches, or specific impact measurement frameworks. They do not provide guidance on how they are to be implemented. The ambition is that industry participants will continue to learn from each other as they implement the Principles.
Each asset owner and asset manager would align their management systems to the Principles. However, the manner in which the Principles are applied will differ by type of investor and institution. Asset owners and asset managers may apply the Principles to the relevant parts of their portfolios. For example, asset owners and their advisors may use the Principles to screen impact investment opportunities. Asset managers and their advisors may use the Principles to assure investors that impact funds are managed in a robust fashion.