Firms pledge to manage assets under IFC’s new principles
As many as 59 investors have agreed to run their operations in line with the Principles for Impact Management, according to the International Finance Corporation (IFC) - a member of the World Bank Group.
HCM City (VNA) - As many as 59investors have agreed to run their operations in line with the Principles for Impact Management, accordingto the International Finance Corporation (IFC) - a member of the World BankGroup.
The Principles Impact Management are designed for investment in companies,organisations and funds with the aim of creating social impact, as well as anenvironment that can be measured with a financial return.
The IFC was responsible for building the Principles based on cooperation withvarious asset management organizations, asset owners, asset allocationorganizations, development banks and financial institutions through aconsultation process with stakeholders.
The development of the Principles is relied onthe IFC's experience in investing in emerging markets, in order to achieveimpacts on development and financial returns.
It reflects the best practices of public and private institutions, taking intoaccount impacts at all different stages of investment cycle, including buildinginvestment strategies and structures, managing portfolio, divestment, andindependent evaluation of investment results.
It also requires signatories to publicly disclose annually how they haveimplemented these Principles.
According to IFC CEO Philippe Le Houerouis, the Principles mark an importantmilestone in bringing the impact-creating investment form to the market. The IFCexpects more funds to be managed in line with the investment form, he said.
Up to now, organizations agreeing to implement the Principles hold at least 250billion USD worth of assets invested to create impacts, and they have pledgedto manage their operation under the new principles. Their future investment for creating impacts willalso comply with these Principles.
The Principles provide a clear standard for the impact-creating investmentmarket, addressing concerns about whether an organization can use itsinvestment to conceal dubious activities.-VNA
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Illustrative image (Source: Shuttestock) 
