Development of Essential ESG Accelerator for Financial Institutions

• Country: Pakistan
• Summary: Development of Essential ESG Accelerator for Financial Institutions
• PKT Ref No: 105999644
• Deadline: 27 Aug 2024
• Financier:
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: 0002010560
• Purchaser's Detail:
  Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details. Login to see full purchaser details.

  Login to see details
• Description:
• Expression of Interest are invited for Development of Essential ESG Accelerator for Financial Institutions in Pakistan Description: The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group (WBG), pursues its mission of reducing poverty and improving people-s lives by promoting private sector development through investment and advisory services. IFC is considered a world leader in promoting corporate governance (CG) and environmental and social (E&S) standards, delivering both investment support as well as advisory services in these areas in emerging markets.  IFC has launched a 3-year ESG Pakistan project, which aims to support the development and improvement of a range of market mechanisms in Pakistan, with a focus on the banking sector and capital markets, to promote the uptake of good international ESG standards and thus expand opportunities for IFC investment in the country. The project will take a programmatic approach to work across regulatory-, market-, and firm-level components to ensure the ESG standards of local firms are improved in line with international ESG standards. The project is intended, among other objectives, to speed up the adoption of good ESG practices by entities that currently do not meet the standards expected of IFC investees, especially in managing Environmental and Social (E&S) risks.As part of its firm-level component, the project aims to launch an ESG Accelerator program which will work with groups of financial institutions to build their ESG capacity through an ESG training and development program (including coaching and mentoring) (FI ESG Accelerator). The FI ESG Accelerator is envisioned as a core component of the ESG Pakistan project. The FI ESG Accelerator will help facilitate IFC investment in the financial sector in Pakistan. The Accelerator is to be implemented in two phases, as follows: (i) The Essential FI ESG Accelerator will focus on operational E&S Risk Management and cover topics such as understanding and identification of the E&S risks and development and implementation of an E&S Management System in FI to address them; (ii) The Advanced FI ESG Accelerator will focus on developing a strategic approach to Sustainability (Governance of Sustainability) and also cover opportunities in Sustainable Finance (including sustainability products like green bonds, energy efficiency finance, etc.).
• Documents:

 Tender Notice