MIGA’s Performance Standards address:
- assessment and management of environmental and social risks and impacts
- labor and working conditions
- resource efficiency and pollution prevention
- community, health, safety, and security
- land acquisition and involuntary resettlement
- biodiversity conservation and sustainable management of living natural resources
- indigenous peoples
- cultural heritage
These Performance Standards help MIGA and its clients manage and improve social and environmental performance through an outcomes-based approach. The desired outcomes are described in the objectives of each Performance Standard, followed by specific requirements to help clients achieve these outcomes through means that are appropriate to the nature and scale of the project and commensurate with the level of social and environmental risks (likelihood of harm) and impacts. Central to these requirements is a consistent approach to avoid adverse impacts on workers, communities, and the environment, or if avoidance is not possible, to reduce, mitigate, or compensate for the impacts, as appropriate. The Performance Standards also provide a solid base from which clients may increase the sustainability of their business operations. Guidance Notes on implementing the Performance Standards are available from our sister agency, the International Finance Corporation.
While managing social and environmental risks and impacts in a manner consistent with the Performance Standards is the responsibility of the client, MIGA seeks to ensure that the projects we support through a guarantee are operated in a manner consistent with the requirements of the Performance Standards. As a result, MIGA’s social and environmental review of a proposed project is an important factor in our decision to provide a guarantee for an investment in the project or not, and will determine the scope of the social and environmental conditions of the MIGA guarantee. By adhering to this policy, we can enhance the predictability, transparency, and accountability of our actions and decision-making, help clients manage social and environmental risks and improve performance, and enhance positive development outcomes on the ground.
In accordance with our disclosure policy, we prepare and disclose Environmental and Social Review Summaries for projects with potentially significant or limited adverse social or environmental impacts (Category A and B Projects). These summaries contain MIGA’s preliminary findings related to a project’s potential environmental and social impacts. Environmental and Social Impact Assessments, and/or other relevant related documentation provided by the prospective client, are attached to these summaries. These documents are accessible through our project database.