100042 2015 Sustainability Review The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 1 The World Bank has set ambitious goals: We have achieved a great deal over the past year: to eliminate extreme poverty and boost Our Climate We work with our partners in confronting shared prosperity in a sustainable manner. climate change and laying the groundwork for a new global climate agreement, and are similarly committed This means managing the resources of the planet for to climate neutrality for our global facilities. We generations to come, ensuring social inclusion, and measure, manage, reduce, and offset greenhouse gas adopting fiscally responsible policies. Through our emissions from our global offices, business travel and work in urban development, energy, transportation, major meetings. We continue to reduce our emissions— infrastructure, agriculture, water, environment, nearly 10,000 metric tons between fiscal 2014 and climate change, and information and communication 2013 (the most recent data). Reductions were achieved, technologies, we help countries create the policies, for example, by upgrading lighting in many offices, development plans, and practices that form the installing solar panels at the Islamabad office, and necessary foundation for sustainable growth. efficiently managing the heating, ventilation, and air We are equally committed to incorporating these values conditioning (HVAC) demand in the Washington, DC, The 2015 Sustainability Review provides insights into activities into how we operate on a daily basis, aspiring to lead by and Chennai offices. undertaken to manage environmental, social, and economic example as we manage our resources. impacts in the World Bank’s internal business operations. The Our Places Our sustainability commitments extend to content and data in this document relate to the International I am pleased to present the World Bank’s 2015 the way we work with our supply chain and maximize Bank for Reconstruction and Development (IBRD) and the Sustainability Review, which shares our endeavors the efficiency of resources used, such as energy, water, International Development Association (IDA), together the to reduce our corporate environmental footprint, food, paper, and public goods, including landfill space. World Bank. Some references to its parent institution, the World Bank Group, have been made and are noted. The 2015 increase the wellbeing of our staff, and engage our host This year, our Nairobi Country Office became the first Sustainability Review details significant Bank activities in communities, all this while ensuring that we use our facility in Kenya to earn LEED Certification, joining fiscal 2015—July 1, 2014, through June 30, 2015. resources in the most efficient way possible. Similarly, Chennai, Juba, Manila, and New Delhi offices with This document complements the financial and operational we are committed to the diversity, health, and safety similar certifications. Our commitment to our host data presented in The World Bank Annual Report 2015. of staff, consultants, and contractors—our most communities also drive record-breaking contributions Financial data in the Sustainability Review come from the valuable business resources—as they help achieve the from staff to our annual workplace Community Annual Report. Non financial information includes elements of environmental, social, and economic aspects of World Bank development goals our country members set. Connections Campaign. Staff from across the World work identified through a materiality assessment. Bank Group and retirees pledged $2.6 million. The Please direct questions or requests for additional information institution matched these gifts dollar for dollar, putting to crinfo@worldbank.org. $5.2 million into DC and surrounding communities. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 2 Our People Our staff are our most important asset. launched the first labeled green bond in 2008, with We offer staff a compelling mission, an opportunity to more than 100 transactions in 18 different currencies. work globally, receive competitive pay and benefits, By leveraging our financial strength, technical and enjoy meaningful careers in a diverse and inclusive expertise, and knowledge resources, we help our clients environment. We place great emphasis on engaging and partners in making real impact on development in a and protecting our staff, and on continual learning. In sustainable manner. fiscal 2015, 88 percent of the Bank’s salaried workforce Our Mission I am proud that our institution models attended at least one learning event (not including our mission. We are a leader in the development mandatory corporate programs). This was an increase community in part because of our strong commitment of 5 percent over fiscal 2014. to environmental, social, and economic sustainability at Our Finances In the current global economic the local level as well as in the global context. environment, we have an obligation to our stakeholders to ensure we use our resources in the most efficient way possible. Our commitment requires a strong business model, long-term partnerships, and well managed resources in the delivery of our services. With We have committed to lead by example as “ continuing focus on climate change, efforts to mobilize private sector financing have taken center stage. Green we manage our corporate environmental, bonds are a successful example of how the private Bertrand Badré social, and economic impacts.” sector has been engaging in climate finance. The World Managing Director and Bank has issued $8.5 billion in green bonds since it WBG Chief Financial Officer – Bertrand Badré The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 3 E AT ES IM AC CL S LE CE PL OP OUR N AN O SI OUR PE FIN OUR S Measure MI OUR Reduce Sustainable Offices Sustainability is the OUR Offset Rethinking Food EVP overarching theme that Report Lean Printing Sharing How It Works frames the twin goals Knowledge Smart Connections Green Bonds About of the World Bank Group: Principled Resolving Purchasing Conflict Strengthening Strategy to eliminate extreme poverty Finances Low-Impact Staff Our Values by 2030 and to boost Representation Lending Progress Commuting shared prosperity. Engaging with Our Communities Click on a chapter to explore the World Bank’s sustainability commitments, actions, and achievements. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 4 Our Climate The World Bank strives to be a leader in climate action with its comprehensive program to measure, reduce, offset, and report greenhouse gas emissions from Bank facilities and corporate activities. Its Washington, DC-based buildings and travel have been carbon-neutral since 2007. On the global corporate level, facilities and travel achieved carbon-neutrality in 2009. Measure Impact Offset Emissions Reduce Emissions Report Results The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 5 Step 1: Measure Impact Global Emissions (metric tons CO2-e) Total Employee Business Travel GlobScope 1 l Emissions - HQ ndS COcope 2 Scope 3 HQ-based CO-based Per employee Since 2005, the World Bank has actively measured Direct Indirect Optional and managed greenhouse gas (GHG) emissions from its facilities, employee air travel, vehicle fleet, and major meetings. (Read the Inventory Management Plan for 200 600 60 185 562 information on the methodology and assumptions used 182 173 519 526 in calculating the Bank’s greenhouse gas inventory. 166 502 161 500 50 GHG emissions lag by a year because data collection 462 150 (thous nds of mil s p r mplo from Country Offices requires manual entry by dedicated focal points.) 400 40 (millions of mil s) Overall GHG emissions in fiscal 2014 were around 165,000 metric tons of carbon dioxide equivalent, 100 300 30 (tCO2 ) a decrease of nearly 10,000 metric tons from fiscal 2013. The largest decrease was seen in business travel, where emissions reduced by nearly 7,000 metric tons. 200 20 Additional savings were seen in electricity emissions, 50 with a decrease of around 700 metric tons globally. 100 10 ) The Inventory Management Plan and the GHG inventory are verified by a third party regularly to ensure they meet international best practices. FY10 FY11 FY12 FY13 FY14 FY10 FY11 FY12 FY13 FY14 The World Bank believes a 4°C warmer world zero emissions before the end of the century. The The World Bank is making an impact through its can and must be avoided. Immediate global action Bank is stepping up its mitigation, adaptation, many projects in developing countries. Visit the is needed to slow the growth in greenhouse gas and disaster-risk-management work, and will Climate Change website. emissions and help countries adapt to changes increasingly look at its business through a that are already locked in. Getting there will require climate lens. economic transformations and a path to net- The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 6 Step 2: Reduce Emissions Total Electricity Emissions in the United States Step 4: Report Results In fiscal 2012, the World Bank set an emissions 50 In the spirit of transparency, the World Bank reports 47 reduction goal, aspiring to reduce emissions from its 46 44 its GHG emissions to the UN Climate Neutral Initiative. owned and managed facilities by 10 percent from a 41 41 In fiscal 2015, the Bank continued to be the only fiscal 2010 baseline by fiscal 2017. Emissions reduction 40 multilateral development institution responding to the efforts are aimed primarily at the Bank’s largest Carbon Disclosure Project (CDP), a forum that reviews sources of facility emissions—in Washington, DC, and risks, policies, and impacts on the lending side, as well (thous nds of tCO2 ) around a dozen owned offices globally. Efforts in fiscal 30 as corporate emissions. 2015 included upgrading lighting to LEDs in many offices, installing solar panels on the Islamabad office, (millions of doll rs) and using more variable frequency drives in the Chennai 20 office to help efficiently manage HVAC demands. 10 Step 3: Offset Emissions The first priority is reducing GHG emissions wherever feasible. However, a zero-emission business is not FY10 FY11 FY12 FY13 FY14 possible in the near term given the Bank’s activities. In fiscal 2015, the World Bank purchased and retired certified emission reductions (CERs) and verified offsets purchased met Gold Standard certification to emission reductions (VERs) to offset the remaining ensure that projects not only produced climate benefits, direct and indirect carbon emissions, predominately but also supported local communities and conserved from operational travel. (Read about offset biodiversity. During this time, the Bank purchased purchasing guidelines.) credits totaling nearly $200,000 from a portfolio of projects. These included a Gold Standard efficient cook The Bank concentrated on purchasing offsets from stove project and a small-scale hydropower project, underrepresented regions of the carbon markets in both in Uganda, and energy-efficiency and wind-power fiscal 2015. It required that at least 20 percent of the projects in India. These credits were publicly retired. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 7 Our Places The World Bank believes in living its mission of ending poverty, boosting shared prosperity, and promoting a sustainable future. To this end, the Bank endeavors to be an environmentally responsible partner and a good corporate citizen. These commitments are clearly outlined in the Code of Conduct. Sustainable Offices Principled Purchasing Rethinking Food Low-Impact Commuting Lean Printing Engaging with Our Communities Smart Connections The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 8 Increasing the efficiency of how we run our business—by hurdles. These include the procurement of sustainable managing resources such as energy, water, and paper; Sustainable Offices building materials, local knowledge of green building diverting waste from landfills; and promoting sustainable technologies, and local building codes that are often staff behavior reduces natural resource use­—and Ensuring the World Bank’s offices are safe and incongruous with international sustainability standards. decreases the costs of day-to-day operations. The World resource-efficient is key to the institution’s sustainability strategy. The Bank employs its years of experience in operating Bank’s Corporate Responsibility Program works with in these challenging conditions to shepherd many of its numerous partners around the Bank to measure, manage, Since 2007, the Bank has used sustainable building facilities to sustainable performance. For example, in and report on the Bank’s environmental impacts. standards as a way of benchmarking performance, fiscal 2015, the Nairobi Country Office became the first Striving to be engaged members of society, World Bank both among Bank facilities and against other facility in Kenya to earn LEED Certification (Gold). Now staff participate in the communities where they live. The public- and private-sector organizations. Three five World Bank offices overseas hold this distinction. Bank encourages and coordinates charitable workplace of its headquarters facilities, in Washington, DC, In addition to Nairobi, the honorees are in Chennai, giving and staff volunteerism. By donating both time and are certified by the U.S. Green Building Council’s Juba, Manila, and New Delhi. money to their host communities, staff further the Bank’s Leadership in Energy and Environmental Design (LEED) twin goals on a local and personal level. Certified program. LEED recognizes best-in-class building strategies and practices around the world. As a part of LEED certification, these facilities also We can only achieve these goals if we are all “ have earned Energy Star certification for energy- committed; the decisions each of us make efficient operations. every day determine the collective impact In the Field we have on the planet and society. Our Providing people with a safe place to work at the corporate sustainability commitment sets a World Bank might seem like a given. But acquiring pathway for each of us to ensure that as we secure, efficient buildings for employees, especially in collectively work towards our WBG mission, Country Offices, is a challenge with many facets. the planet and people equally profit. It also The World Bank operates 127 Country Offices, enables us to model corporate sustainability with most in developing countries where operating for our clients and partners.” superior office facilities means facing numerous – Jim Yong Kim, World Bank Group President The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 9 To formalize these efforts, design parameters for towers simultaneously to find energy efficiencies. Total Global Energy Use Country Offices were updated in fiscal 2015. These set As a result, summer electricity use dropped by 7 expectations around optimum building standards and percent in 2015 from a 2013 and 2014 average. CO Energy Washington, DC, Energy ensured they would be met. In line with the Bank’s efforts to remain best in class Progress Toward Sustainable Facilities and reduce energy use, in fiscal 2015 LED lighting was installed in stairwells and bathrooms in the 584 The Bank takes a proactive approach to overseeing 600 main complex building, saving 50 percent in energy 551 548 building operations. The focus is not only on ensuring consumption in those areas. The lights are also being 520 proper internal operations, but on making them more 490 used in a World Bank building garage at headquarters. 500 resource-efficient. The Bank is committed to using More widespread installations are planned for natural resources efficiently, reducing waste, and fiscal 2016. ensuring staff safety in the way its buildings 400 joul s ) are operated. The Bank made a number of upgrades in Country Offices in fiscal 2015. In the Islamabad office, solar Energy Efficiency 300 (thous nds of i panels were installed on the roof of the security facility, In the Washington, DC, offices, energy consumption powering all lighting and HVAC loads in the facility. has dropped steadily each year for the past eight years. In the Chennai facility, two projects to increase the 200 In fiscal 2015, electricity consumption for DC offices amount of LED lighting throughout the facility and was just over 75,000 MWh, a decrease of around improve the use of variable-frequency drives in the 1,000 MWh from fiscal 2014. There were a number of 100 HVAC system yielded savings of more than 300,000 technological and operational upgrades that led to kWh per year, with a simple ROI of less than one year. this reduction. Energy savings realized in fiscal 2015 have led to a FY10 FY11 FY12 FY13 FY14 “Demand flow” was introduced in the Bank’s main reduction in the Bank’s greenhouse gas emissions. Read complex building early in the 2015 fiscal year. The the chapter “Our Climate” to learn more about the process optimizes the entire mechanical central plant Bank’s progress toward lowering GHG emissions and by modifying its fans, pumps, chillers, and cooling how they’re measured. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 10 Clean Slate Simultaneously, the Bank’s cafeteria kitchens aimed Total Waste The Bank’s most important assets are its people. to increase the amount of waste being composted and Composting Ensuring their wellbeing at work is essential. Every recycled—improving the diversion rate from 60 to 80 Single stream recycling 18 months, the Bank conducts indoor environmental- percent. The target was broadly met. In fiscal 2015, 3,096 Landfill quality testing by taking air and swab samples, only 22 percent of cafeteria kitchen-based waste ended 3,000 2,782 conducting visual inspections, inspecting air up as landfill. This was the outcome of working with distribution systems, testing drinking water, testing the restaurant vendor’s staff to pay closer attention to 2,400 for airborne contaminants, and talking with staff. sorting trash accurately and efficiently (see below). (m tric tons) Workplace paper products are all Green-Seal certified, 1,766 1,723 1,766 1,800 and cleaning products contain no hazardous or toxic ingredients. Any product brought into the building is registered with a Material Safety Data Sheet (MSDS). WHAT GOES WHERE 1,200 MSDSs for new chemicals being brought into the Bank In fiscal 2015, the World Bank began a are reviewed by the Bank’s environmental consultant series of training games and competitions 600 and, if deemed safe, are added to a master file. that helped kitchen staff better understand In fiscal 2015, an issue that was studied was how the impact of their disposal practices. staff could dispose of waste for recycling, composting, FY11 FY12 FY13 FY14 FY15 Learning what (containers, foods) goes and landfill more efficiently to live up to the Bank’s sustainability commitment. The Bank investigated where (in receptacles for composting, recycling, or landfill) ensures that the Bank Other Waste Recycled (metric tons) various means to ensure that employees were able directs minimal materials to landfills. 8mT 10mT to easily choose the right bin at the moment of diversion, and that various contractors handling waste were properly trained to maintain proper diversion The training instilled a sense of concern through the waste process. The most effective way about the environment in the workers, and Toners Carpet tiles to communicate to staff what goes into which bin thus improved their habits. The training will was studied through a partnership with the World be held again in fiscal 2016. 99mT 75mT Development Report’s Behavior Lab. The research also pointed to the need for a standardized, universal receptacle and clear signage on desk-side bins. These Construction waste Electronics will be placed throughout the Washington, DC, campus in the coming fiscal year. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 11 meetings and events instead of bottles is high on the Rethinking Food agenda. In fiscal 2015, there was a 10 percent reduction Lean Printing in bottled water consumption. The goal for fiscal 2016 The cafeterias in the World Bank’s Washington, DC, The World Bank is a knowledge bank. Disseminating is reduction by an additional 10 percent. offices provide staff with affordable, fresh, local, in sustainable ways to our stakeholders is essential. sustainable food. The emphasis is on good health, Certified standards have been adopted throughout At headquarters, this means most knowledge products environmental conscientiousness, and global equity. the cafeterias. The partnership with ProFish, for are now produced by the Bank’s state-of-the-art print example, protects endangered species. ProFish sells shop and its creative multimedia team. Building sustainable relationships enables the Bank only sustainable seafood to the World Bank and other to deliver on its commitment. It partners with local clients. The practice prioritizes species of fish that can Inside Job farmers to order in-season produce. Internally, be found on the Monterey Bay Aquarium’s green and With more than 11,000 printing jobs annually, the Bank persuading employees to offer pitchers of water at yellow lists, and avoids the use of fish on the red list. brought commercial printing in house in fiscal 2015, Other core issues related to food sourcing include saving approximately 20 percent in costs over the the use of only fair trade coffee—3,500 pounds per previous practice of going through outside vendors. The month, or 42,000 pounds per year—in coffee service facility has transitioned from being a basic document for meetings and right-sizing ordering to ensure that printer to a high-quality book publisher. overproduction is eliminated. Any excess food produced The result has been an increased volume of production is donated to the DC Central Kitchen. printing as well as institutional cost savings. To realize greater efficiencies, the Bank’s print shop has also accommodated print requests from other international organizations located in the Washington, DC, area. World Bank cafeterias Outside Impact emphasize staff wellbeing, The World Bank’s new cutting-edge, high-speed inkjet digital printer not only saves money—it lessens environmental awareness, the Bank’s impact on the environment. Digital printing means less spoilage, less print time, and more eco- and global equity. friendly supplies, such as sustainable paper certified by the Forest Stewardship Council (FSC). The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 12 Clients usually print on demand—requesting only You Are Here the amount they need—which reduces the carbon To amplify the user experience of print materials, the Smart Connections footprint and reduces waste. In addition, a new World Bank first used augmented reality at the 2014 The Bank is committed to fostering greater workflow to decrease the use of ink has meant savings World Bank—IMF Annual Meetings. Scanning an image communication and knowledge sharing among staff on the sustainability and financial fronts. The water- on a poster or a book launched videos, websites, and and clients in a sustainable way. Technology is helping and soy-based inks largely used further the Bank’s the like. In fiscal 2016, R&D on virtual reality for the to enable this—by cutting costs, reducing resource use, sustainability commitment. Bank will continue. The tool could allow people in and bringing people closer together. The revamped printing operation was honored by the the field to experience the “before” and the “after” of In-Plant Printing and Mailing Association (IPMA) with development projects. Print Smart an Innovation Award for the organization’s cost-saving Until fiscal 2015, there was one printer for every 2.5 digital printing installation, and was also the recipient people working in the Bank’s Washington, DC, offices, of six awards as part of an industry-wide printing- and, in line with industry standards, about 25 percent quality competition. of print jobs were never picked up from the printers. In fiscal 2016, the Bank plans to issue new paper By any measure, this print method was inefficient contracts to contribute to efforts to decrease the and unsustainable. organization’s environmental footprint. This is also A new WBG Print System was launched in January expected to finalize the migration of all paper items 2015, and implementation will be completed in all to be FSC-certified institution-wide. headquarters facilities by January 2016. The new system provides easy access to state-of-the- art multifunction printers—within 25 steps of each FROM THE STATES TO THE FIELD employee’s office area—that print, scan, copy, and fax. Of particular value, the system allows staff to The Bank is growing its reputation as a knowledge print directly from an iPhone, iPad, Android, desktop, bank while supporting clients in member countries. or laptop to any printer in the DC offices. With few A fast-turnaround print-and-ship job in fiscal exceptions, all personal printers will be eliminated, 2015 delivered instructional field books to Angola. recycled and repurposed, cutting the number of Teachers and parents there used the guides to printers by more than 5,000. learn about effective teaching methods. A clear and immediate connection was made. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 13 Sustainability is embedded in the new program, which The Power of the Cloud Prior to the use of the file-sharing system, large reduces waste and energy consumption and lowers In the past fiscal year, approximately 26,000 staff, amounts of paper were printed for reports, briefing costs. Staff begin a print job by swiping their ID badge consultant, temporary, contractor, and service email binders, and meeting materials. In some cases, on the printer, eliminating abandoned paper projects. accounts transitioned to a new cloud-based email several versions were printed to ensure that the latest system. As a cloud service, the new system gives Bank information was reflected. In the first year since the In January 2017, the new printing system will be on employees a 50 GB email inbox—increasing previous file-sharing system’s launch, more than 8,000 staff track to lower headquarters print spending by 30 storage by a factor of 25. An additional 100 GB of have used it on a daily basis, uploading a total of over 75 percent. Proactive monitoring of supplies eliminates online storage for archives meant no more physical TB of data. In addition to saving paper, the cloud-based unnecessary expenditures on paper, toner, and storage for email archives, eliminating the need for solution is changing the way staff collaborate. miscellaneous supplies, which currently cost the organization approximately $7 million a year. The Bank future use of plastic CDs and DVDs for thousands is now able to accurately track monthly print activity, of employees on a monthly basis. And thanks to the volume, and cost. power of the cloud, the back-end infrastructure in data centers and Country Offices will be eliminated: In total, about 250 Lotus Notes servers and associated costly Adopting New Collaborative data storage will be decommissioned Bank-wide. Communication Tools In fiscal 2015, the Bank provided staff with new virtual Simultaneously, a cloud-based file-sharing and meeting tools that reduce the need to travel, thus -storage solution was introduced that changed the way helping to minimize the organization’s environmental staff access, store, share, and collaborate on a variety footprint. From video conferencing to TelePresence, of content. This tool decreased the amount from instant messaging to WebEx and Jabber, staff of paper being printed. can now easily communicate whenever they want, from wherever they are. In June 2015, staff placed 68,000 calls via Jabber. Every day, staff around the globe conduct hundreds of video conferences, and, on The WBG Print System gets average, hold 14,000 WebEx meetings each month. From January through June 2015, more than 5,000 hours of employees out of their offices TelePresence meetings were held. and literally brings people closer together. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 14 contracts, including consulting firms, travel, IT and the most efficient carriers. The results gave the Bank Principled Purchasing telecommunications, health and benefits, facilities a clearer picture of trends in the airline community management, and construction for both HQ and related to sustainability. The World Bank is committed to working with vendors Country Offices. who incorporate sustainability principles into their practices. Corporate Procurement works with business Sustaining Human Rights managers to help them consider sustainability issues— Improving Transparency Modern slavery is the practice of subjecting workers to environmental, social, and economic—as they plan Visibility and transparency of the procurement any form of forced, compulsory, bonded, indentured, project requirements. The Bank leverages spend to process increased in fiscal 2015 when the Bank or prison labor work. In fiscal 2015, Corporate advance the sustainability solutions it pursues within implemented scorecard reports and the use of new Procurement partnered with Walk Free, a nonprofit procurement operations. metrics, including cycle times, savings targets, and community of anti-slavery activists, to strengthen the qualitative performance measures. Quantifying these Bank’s policy framework on addressing forced labor in Each year the Bank purchases about $1.6 billion in key components led to enhanced planning, innovation, vendor supply chains. goods and services for its headquarters, in Washington, and collaboration between internal stakeholders and DC, and in the Bank’s 127 Country Offices. Its procurement teams. Management of the Minority, portfolio covers major categories of Bank-executed Sustaining Financial Strength Women, Disabled Owned Business Enterprise (MWDBE) The Bank’s Procurement Review Committee and Socially Responsible initiatives supports the values transformed its post-award review to a pre-solicitation of fairness and openness in the Bank’s procurement review in fiscal 2015. This allowed for strategic input to ENGAGING SUPPLIERS TO SERVE THEM BETTER sourcing strategy. the procurement process—including specific discussion The Bank also began disclosing its contract awards for around sustainability and economic efficiency—before In fiscal 2015, the Bank held a Supplier hiring external parties. Senior Bank management $250,000 or more online on a quarterly basis. Engagement Workshop for strategic suppliers and from Finance, Legal, Risk, and Operations joined the internal clients. The objective was to exchange Committee to provide broader organizational input on Addressing Sustainability in Travel Contracts knowledge and ideas about innovative practices, Bank employees fly more than a half-billion miles a high-risk procurements. including sustainability issues. year to carry out the Bank’s global work. To identify Information was gathered to develop a fiscal 2016 preferred airlines to reach its clients, the Bank procurement plan that details the projected individual As a result, the Bank discussed the relevance of requested sustainability information from airlines. projects and relevant spend for the fiscal year. The plan category management to build supplier relations The inquiry delved into the use of cleaner alternative is now used as a strategic tool for governance, client for major contracts. This resulted in a mutually fuels, carbon emissions, wages, international labor education, and Bank synergies. It gives clients the beneficial relationship for the Bank and suppliers to standards, and, specifically, how each airline advanced knowledge and the Bank the influence to shape projects improve the Bank’s service delivery and quality. environmental sustainability in order to determine for the optimum cost savings. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 15 The Bank has six dual charging stations for the current cycling techniques. A seminar on how to maintain a Low-Impact Commuting employees’ electric cars installed in each of its owned bike for city travel, which included such practical garages on the HQ campus. Plans were made in fiscal giveaways as helmets, lights, locks, and tire repair kits, The World Bank encourages its staff to choose clean 2015 to expand the project to a total of 12 dual stations was popular. More than 100 staff attended functions ways to commute to the office, and rewards their to serve the growing number of staff driving electric during the week long campaign. alternative choices with transportation credits, cars to work. cycling incentives, and discounted memberships in car-share programs. Low-impact commuting supports Employees who drive electric cars and fuel-efficient Engaging with Our the wellbeing of employees, the environment, and the vehicles, as well as carpoolers, are offered preferred economy—the Bank’s “triple bottom line.” parking spaces, near garage elevators and stairwells, Communities as an incentive to respect the environment and also The World Bank Group takes seriously its responsibility A Sustainable Decision to support the Bank’s LEED certification efforts (see as a neighbor in its host communities. Its Community Convenient. Economical. Healthy. Good for the “Sustainable Offices”). Connections program promotes giving back by the environment. These are all reasons that 70 percent of World Bank Group and staff together. The program is the World Bank staff at headquarters, in Washington, Free Wheeling made up of a workplace giving program, disaster relief DC, decide to use a commuting option other than The Bank staff have formed a strong community drives, local grants, volunteerism, in-kind donations, jumping in the car—unless it’s a hybrid or electric. of cyclists, contributing greatly to a healthier and an internship program for students from local environment and to their personal wellbeing. Fourteen public high schools. With Community Connections’ percent of Bank staff have registered their bikes support, staff can live the twin goals locally. to park in Bank garages. The World Bank provides parking for these mission-driven cyclists with 458 Giving Time spaces at its DC buildings. The World Bank Group gives every employee a paid Cycling to work takes commitment from the uninitiated. day off each year to volunteer, but this doesn’t begin To encourage staff, the Bank offers discounted to capture how much time staff donate in their memberships in the Capital Bikeshare program. In fiscal communities. Community Connections knows from 2015, subscriptions numbered around 350. To further reports by Bank Group staff and nongovernmental support staff who wish to switch to commuter cycling, organization (NGO) personnel that staff volunteered in fiscal 2015, the Bank upgraded amenities in cycling at least 11,900 hours around the world in fiscal 2015. areas with repair stands and tools. Their contributions included book drives, tree plantings, technical assistance, teaching, and more. Employees The annual Bike to Work Day events raised awareness were especially responsive to emergencies: During the of the Bank’s offerings to cyclists and taught safe The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 16 Ebola crisis, staff in Guinea collected beds, mattresses, programs were designed to respond to real needs in WBG Community Connections Campaign Giving and medicine for a health clinic. After Cyclone Pam the NGO community. in the Pacific, local staff delivered food, medicine, Total Funds Raised Staff Participation (%)  For example, following a dramatic increase in family and tools to the tiny island of Tuvalu. After Corporate Match homelessness and an ongoing affordable-housing By communicating these stories inside the crisis in the Washington, DC, region, in fiscal 2015, $5M $5.2M (millions of doll rs) organization, Community Connections inspires staff Community Connections contributed to two permanent to get involved in their own communities. The Bank $4M FY13 62% supportive-housing projects being built in the city. Group’s annual headquarters volunteerism expo Together, these projects will provide 266 units of demonstrated their vast participation. In fiscal 2015, FY14 63.5% affordable housing and wraparound services for staff made 2,900 connections with more than 40 NGOs residents and neighbors. in DC, and nine Country Offices hosted their own expos FY15 64% Also in fiscal 2015, the Bank Group’s capacity-building and volunteer events in conjunction with HQ’s event. program, Measure4Change, entered its second year. FY13 FY14 FY15 This program, run in collaboration with the Urban Giving More the same year, Community Connections began using Institute, provided cash support, technical assistance, In fiscal 2015, the Bank Group and its staff gave microsites to run disaster-relief drives. This allowed and a community of practice to help local NGOs more—$6.4 million in cash, boosted by record giving staff in DC and Country Offices to give by using credit improve their ability to use data to measure their in the annual workplace Community Connections cards, making the drives more available to more staff impact on clients and the community. Campaign. Bank Group staff and retirees pledged and helping them give more conveniently to those in need. a record-setting $2.6 million, and the Bank Group The Bank Group and its people also think creatively matched these gifts dollar for dollar, putting $5.2 when they give, donating toys, toiletries, meeting million into the DC region and the world. Sixty-four and event space, and assets such as computers and percent of headquarters staff donated to the campaign. furniture during the fiscal year. This variety of support Campaigns in 36 Country Offices continued to set helped sustain NGOs as they served their clients and growth records as well, raising $160,000, including the provided additional ways for Bank Group staff to corporate match, for their participating NGOs. connect with their communities. Staff responded quickly and generously to such devastating disasters as the earthquake in Nepal, Targeted Giving floods in Malawi, and the Ebola outbreak in West Africa. The Bank Group’s local grants support two major Disaster relief amounted to about $540,000 in fiscal areas: capital campaigns to improve NGOs’ facilities 2015, including staff gifts and corporate matching. In and performance-measurement grants. These grant The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 17 Our People The World Bank’s nearly 12,000 staff—the institution’s most valuable resource—are drawn from more than 170 countries and united by a common mission: to eliminate extreme poverty by 2030 and to promote shared prosperity, and to do so in a sustainable manner. To attract, retain, and leverage the talents of the best global development professionals, the Bank must provide a compelling employment value proposition (EVP) while ensuring that the right skills are deployed at the right place at the right time to be able to deliver sustainable business solutions to clients’ development challenges. EVP Resolving Conflict Sharing Knowledge Staff Representation The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 18 The EVP the Bank seeks to offer staff begins with Full-Time Staff the engaging and purposeful mission, and includes a competitive and modern package of benefits, a rewarding career experience, and a diverse and inclusive environment. FY13 Total US-based Non-US* 7,214 4,832 12,046 Strengthening the New 55% 47% Employment Value Proposition 45% 53% In fiscal 2015, a number of major change efforts sought to make the institution more agile and adaptable, providing management and staff with the support needed to FY14 Total continue to deliver high-quality results while strengthening 12,328 the employment value proposition. Guiding this effort was 7,449 4,879 the HR strategy, which focuses on five key objectives: 55% 47% 1. Building a culture of performance and accountability 45% 53% by aligning individual performance to the organization’s mission; 2. Driving a more effective organization by assessing FY15 Total current contracts, benefits, and compensation 7,209 4,724 11,933 structures; 55% 47% 3. Fostering a more diverse and inclusive workforce; 45% 53% 4. Creating career opportunities through increased mobility; and 5. Ensuring HR excellence and business-driven delivery. The past year has seen significant progress in a number of these areas, where new initiatives were undertaken or existing EVP elements were strengthened for long-lasting positive impact. *Country Offices and satellite offices The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 19 Matching Staff Skills to Business Needs and help with navigating the often-complex areas of Enabling Global Mobility With the guidance of HR, and in an effort to ensure that pensions, taxes, and visas. In addition, staff can benefit The Bank approved a Global Mobility Support the organization has the right number of positions and from a series of monthly career seminars on job search Framework to deploy staff with appropriate skills mix of skills aligned to the strategy, the Bank embarked strategy, interviewing, and networking. By the end of where and when needed and to increase organizational on a comprehensive strategic staffing effort. This began fiscal 2015, the Transition Support Unit had met with capabilities over the long term. The new framework, with the Institutional, Governance, and Administrative about 400 staff members seeking individual assistance. coming into effect on January 1, 2016, is characterized (IG&A) units in the first half of the fiscal year, with Further, 250 additional staff participated in the unit’s by three significant changes: the operational units following later. The exercise monthly information and career management seminars. 1. Simplification of the administration and processing considered evolving client demand, business needs, of mobility benefits; and funding parameters. Creating Career Opportunities to Boost 2. Harmonized support to all mobile staff, regardless of The implementation of the strategic staffing plans is Staff Expertise their appointment types; and focusing on redeployment and development of existing A robust career framework is an integral piece of the staff, with recruitment and separation decisions Bank’s EVP. There is a longstanding—and growing— 3. Targeting and rebalancing support elements to carefully considered as necessary to align staffing demand for a framework that clearly articulates the incorporate best practices and market alignment with strategic priorities and available resources. The types of experiences and roles that the institution into the framework. outcome of the IG&A strategic staffing exercise will be values; better prepares staff for success in their current The new framework helps provide an improved a net reduction of around 250 positions. jobs; and positions them for professional development employment value proposition to globally mobile staff, opportunities and growth. while better meeting the development needs of our To support impacted staff as they prepare to transition to other internal or external positions, the Bank To address this need, which was further reinforced clients. The modernized approach is also designed established a Transition Support Unit in fiscal 2015 through the Employee Engagement Survey conducted to promote greater workforce integration. Thus, the as a central resource for information and guidance. It in April 2015, the Bank launched a comprehensive framework will play a key role in the overarching Career includes career coaching; assistance with job searches; career management program, led by a dedicated career Development Framework, strengthening the Bank’s EVP. management unit, which will focus on, among other Providing guidance to staff on potential career areas: designing career frameworks with illustrative assignments and paths, the framework also paths for managerial and technical tracks, establishing clarifies responsibilities for career management, talent pipelines, and succession planning. A career and establishes a system that offers all staff similar A robust career framework portal will provide a one-stop shop for external and opportunities to build local, regional, or global is an integral piece of the internal opportunities. As the framework evolves, managers will be equipped with training and knowledge careers within the institution, regardless of where they are hired or stationed. The framework ensures Bank’s EVP. to better manage their staff’s careers. that both the organization and staff members have selected assignments that are business driven and The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 20 meet real client needs, deliver tangible results, and and proactively identify potential countries where headquarters, in Washington, DC. Starting in mid-fiscal simultaneously form part of a longer-term career such Special Compensation Measures may be required 2015, Country Office staff gained access to Optional development plan. in the future. The purpose of Special Compensation Life Insurance of up to five times net annual salary, Measures is to provide some level of stability to Optional Dependent Life Insurance, and Optional In tandem, a global mobility portal was launched in local compensation, while recognizing that these are Accidental Death and Dismemberment Insurance for fiscal 2015. It offers vital information for staff moving temporary relief measures until salaries can be aligned the first time. As of July 31, 2015, 3,812 Country Office to overseas assignments. The portal’s features again to the prevailing conditions in the local market. staff were enrolled in the Optional Life Insurance. Of include country-specific information for more than these, 2,925 opted for the maximum coverage. The 120 locations; a virtual planning tool for guiding staff Planning for retirement changes in these benefits have helped to protect through the relocation process; real-time relocation Effective January 1, 2015, the WBG made changes the financial security of staff and families, and the status reports for tracking progress; a multimedia to the Staff Retirement Net Plan (SRP) to provide alignment has increased internal equity with the Life knowledge center for accessing various mobility-related staff with the opportunity to contribute more to Insurance program available at headquarters. resources; and an interactive social collaboration platform for sharing experiences. increase retirement income, strengthen financial The headquarters plan was also improved, allowing security for staff and families, and maintain the staff to elect Optional Life Insurance of up to five times SRP’s competitiveness. The improvements to the SRP net annual salary. This represents an increase from Improving Staff Benefits allow participants to contribute up to 11 percent of the previous option of three times. As of July 31, 2015, Compensation in volatile conditions net annual salary to the plan, up from the previous 4,032 headquarters staff had taken advantage of the Although the current Bank Group compensation maximum and mandatory level of 5 percent. As of new Optional Life Insurance options—an improvement system is well prepared to manage salary scales July 2015, only 20 percent of staff were contributing in the Bank’s EVP. and pay in countries where conditions are relatively at the minimum of 5 percent, while 68 percent were calm, difficulties arose in markets with extremely contributing at the full 11 percent. volatile conditions. In fiscal 2015, the Board approved a framework for Special Compensation Measures In addition, in the event of a staff member’s death in for staff. The framework supports the organization in responding quickly and consistently to challenging service, his or her eligible spouse/registered domestic partner now has the option to receive earned pension The Global Mobility “ situations, thereby ensuring a more transparent and benefits as a lifetime annuity, or a combination of a lifetime annuity and a lump sum payment. Eligible Framework ensures staff standardized approach. In consultations with the Staff Association, a children will receive children’s benefits to age 22. with appropriate skills process was introduced to constantly monitor the Life insurance are placed where and macroeconomic conditions across all countries where the Bank has a pay line. This helps the Bank to track In fiscal 2015, the Bank’s Country Office Life Insurance when needed.” plans were aligned to those offered to staff at The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 21 Aligning Business Needs to Supporting staff globally Contract Architecture Currently, the Bank’s Health Services Department Over the past six years, the Bank’s complement of staff offers a range of healthcare services to staff located in on term contracts has grown to more than 50 percent Washington, DC, including an onsite urgent care and of the workforce. Recognizing the inequities that have travel medicine clinic at headquarters, occupational arisen as a result, with job security determined less health services, personal and work stress counseling, by business need but rather by date of joining, efforts domestic abuse prevention and assistance, and field were launched in 2015 to address this imbalance, health advisory services (including coordination of which directly impacts both employee engagement medical evacuations when needed). A wide variety of and the Bank’s EVP. Over the next year, efforts will supplementary services and events are also offered, be undertaken to “convert” staff to open-ended including health fairs, biometric health screenings, and appointments where there is a current and future health monitoring at multiple locations. (anticipated) business need, allocated funding, and The Bank’s field-based teams in Dakar, Douala, a record of strong performance. This will align the Johannesburg/Pretoria, and Nairobi cover the Africa Bank with contract practices in other International Country Offices. The team in Singapore aids the East Financial Institutions. Asia and Pacific region. Field Health Services Staff at HQ support the other regions. Promoting Wellness These teams support staff and their dependents by In fiscal 2015, Health and Global Wellness was providing health advice, organizing health education Moving toward active health management presented for the first time as one of the five core pillars and prevention events, coordinating medical Numerous positive changes are underway in the of the Employee Value Proposition and “Total Rewards” evacuations, and providing health briefings to staff who manner in which staff health is addressed. The aim is package for World Bank Group staff. The focus of this are relocating. The teams regularly visit the countries to move from simply providing or facilitating access to key element is not only on financing health benefits they support to assess and monitor local healthcare healthcare to proactively helping people manage their though the provision of healthcare insurance plans, but resources, and to interact directly with Country Office health risks and wellbeing. Risk factors (mostly related also increasing the emphasis on effective wellness and staff. Specific advice and support includes informing to chronic conditions) drive up healthcare costs, reduce disease management initiatives that reduce healthcare staff about current health risks or outbreaks in their productivity, and impact results. Proactively managing risks, improve health, and save healthcare costs. region, advising on risk reduction, and referring staff health and changing unhealthy lifestyles is a proven to vetted medical providers. method to enhance health, reduce costs, and increase staff wellbeing, which in turn enhances staff’s ability to serve the institution’s mission. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 22 The Bank is conducting an in-depth market analysis Through the Diversity and Inclusion unit, which reports The compact details several indicators and targets on current practice and vendor capabilities in the fields to both the President’s Chief of Staff and the Vice for the World Bank Group. These include reaching of Wellness and Health Promotion, Chronic Disease President of Human Resources, the Bank is putting the 50 percent mark for women managers employed Management, Telehealth Services, and the role of Onsite that commitment into action from the top down, to by the Bank Group, and increasing the sense of Clinical Services in supporting effective population ensure that all differences and perspectives are valued, inclusion for all staff, as measured through the 2015 health management. Combined with an opportunity celebrated, and leveraged for business impact. Employee Engagement Survey, with questions about analysis assessing healthcare use data, and the results nondiscrimination, dignity, and respect. of a recently conducted staff Health Risk Assessment, High-level support The Bank’s President and Senior Management Team These objectives flow downward from the senior analysis is informing the design of new programs to management team to every vice president, director, and improve staff health, reduce healthcare costs, and renewed their commitment to D&I in fiscal 2015, signing a fiscal 2015–16 D&I compact. The document outlines manager in the organization. Individual compacts and increase staff engagement and productivity. scorecards have been customized at the unit level. specific goals, actions, and deliverables within the areas Concurrently, the Bank is conducting a review of advocacy, accountability, and inclusion. The Diversity and Inclusion unit is supported by and update of its health insurance plans, aimed at two advisory groups. An External Advisory Panel improving provider network access and encouraging for Diversity and Inclusion met for the first time in informed healthcare consumerism. fiscal 2015. The Advisory Panel is composed of global rist t Indicators Diversity Div r ts leaders in the private and public sectors, as well as Fostering a Diverse and Inclusive Workforce P rt II M n rs Wom n GF+ academia, who have driven extraordinary change in Drawn from over 170 countries and speaking more (prim ril from d v lopin countri s) (T chnic l l v l) their organizations and/or the community. The Advisory than 140 languages, the World Bank’s diverse staff is FY13 41.2% FY13 41.9% Panel is tasked with providing an external perspective its greatest resource, reflecting the rich diversity of its FY14 40.8% FY14 42.5% to balance the strategies and views of the internal client base. FY15 41.4% FY15 43.1% Council on Diversity and Inclusion. The World Bank is committed to fostering and WBG T r t 50% WBG T r t 50% The new Council on Diversity and Inclusion, established strengthening Diversity and Inclusion (D&I) in both its in fiscal 2015, is a cross-section of senior management, work and its workplace. This means providing staff staff from across the Bank Group, and the Staff Wom n M n rs Sub-S h r n/C ribb n GF+ an environment where different backgrounds and (T chnic l nd m n ri l l v l) Association. D&I advocates within each Vice Presidency perspectives are valued and celebrated, and where unit at headquarters and in Country Offices work FY13 38.1% FY13 11.9% opportunity and equitable treatment is afforded to closely with the Council, their management teams and all, regardless of nationality, gender, race, religion, FY14 37.6% FY14 11.7% staff, and Human Resources to implement institutional ethnicity, age, sexual orientation/gender identity, FY15 37.8% FY15 11.6% D&I strategies at the unit level. disability, or educational background. WBG T r t 50% WBG T r t 12.5% The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 23 Who am I? the previous survey. Efforts are underway to take Recognizing that staff diversity is more than meaningful action to address the areas of weakness, at nationality and gender, in fiscal year 2015, the World both the institutional and VPU level in these and other LEVERAGING OUR CULTURAL DIFFERENCES Bank requested staff to identify themselves by different areas in the year ahead. In a year of transition and in a multicultural diversity dimensions. As a first step, staff were asked organization such as the World Bank, fiscal to voluntarily self-identify within four aspects: (1) race/ ethnicity, (2) multiple nationalities, (3) nationality at Sharing Knowledge 2015 saw the increased popularity of the birth, and (4) sexual identification/gender identity. This Intercultural Competencies training. The As a development solutions provider, the World effort was undertaken to gain a more accurate picture program aims to help teams experience Bank places emphasis on staff learning that ensures of the dimensions and perspectives that staff bring to beneficial exchange of knowledge and experiences deeper awareness of their cultural values work every day. among staff. This promotes the delivery of well- and assumptions, and reflect on personal informed products to country clients, and provides the strategies to work, collaborate, and Measuring Staff Engagement cutting-edge knowledge and skills that staff need to communicate with colleagues and clients Despite the ongoing changes, many staff remained carry out the Bank’s twin goals. Under the new Global across diverse cultural styles. As an example, proud and positive about the World Bank as an Practices structure, the Bank has focused on helping a Vice Presidency unit rolled out the employer. According to the 2015 Engagement Survey — staff understand their new roles; adopt innovative program to its entire 467 staff in fiscal 2015. in which 79 percent of staff participated—the World approaches to development challenges; collaborate Reported outcomes included improved work Bank Group has a strongly engaged workforce, with an and share knowledge through communities of practice, engagement index of 69 percent, robust compared to mentoring, and peer learning; and improve technical relationships with colleagues and clients, other organizations in both public and private sectors. and leadership skills. better listening skills, and a greater ability to The vast majority of staff are proud to work for the efficiently establish relationships and achieve The World Bank’s Employee Learning effort is institution; 82 percent understand how their work results in a new Country Office location. coordinated by the Learning Board with representatives contributes to the institution’s goals; 73 percent feel from across the organization. This forum is used to they are treated fairly regardless of gender, age, race, share best practices and address issues institution- national origin, religion, disability, or sexual orientation; wide. In fiscal 2015, the Bank created a new vice and 75 percent feel their job makes good use of their skills. presidency, the Leadership Learning and Innovation However, challenges were highlighted in the areas of (LLI) Vice Presidency, which reports directly to the senior leadership, institutional practices, and career President of the World Bank Group. This signals the management, all of which registered declines from importance given to the employee development agenda. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 24 To ensure a decentralized but coordinated approach learning delivered shrunk to 52,751 from fiscal 2014’s The World Bank invested $65.8 million in employee to staff learning in the newly formed Global Practices, 65,496, a 19 percent drop. Eighty-eight percent of learning in fiscal 2015, up 2 percent from fiscal 2014, the Bank also created a learning steering committee the Bank’s salaried workforce attended at least one but a drop of 13 percent from fiscal 2013. Fifty-six co-led by the Global Practice Chief Economist and the learning event during fiscal 2015 (not including the percent of the investment was spent on developing and Leadership Learning and Innovation Vice Presidency. mandatory corporate programs). This was an increase delivering learning activities, and 44 percent was used This has helped increase the link between learning of 5 percent over fiscal 2014. Eight-five percent of to cover learning received—direct and indirect expenses being offered and business needs while ensuring high- all staff based in Country Offices attended at least for employees to participate in learning (provided quality processes, consistency, and collaboration one event, and 89 percent of all those based at internally and/or from external providers), including throughout the Bank. headquarters, in Washington, DC, completed in at least employee time and other costs. one learning activity. The Bank’s workforce attended The decline in spending on learning between fiscal 2013 The Numbers of Learning and the equivalent of 3.2 days of training on average and 2015 was in part a result of competing priorities per employee in fiscal 2015, with 3.3 days taken by Knowledge-Sharing in a year of organizational transition. The spending Country Office-based employees and 3.1 days taken by decline was felt across the institution and is consistent The Bank delivered 1,821 learning activities in fiscal headquarters-based employees. with the Employee Engagement Survey results, which 2015, compared to 1,667 the year before, for a 9 percent increase. In fiscal 2015, the total days of Although this was a significant decline from fiscal 2013 show a low of 38 percent positive response on Learning (4.2 days average), as employees sought to understand and Development. The Bank continues to try to identify their new work programs and unit objectives, and the pressure points felt by the institution’s staff and Learning Activities delivered, FY13-15 to identify new ways of working together across the clients, and provide the most effective learning that changed organizational structure, many reported that can address those business needs and further the the learning they did receive was of higher impact Bank’s mission. 1,821 1,667 than ever. In fiscal 2015, more than 95 percent of respondents to employee learning surveys rated the Establishing an Open Learning Campus ctiviti s) 1,364 overall quality of learning as favorable—compared to A transformative Open Learning Campus (OLC) will about 93 percent in fiscal 2014, 91 percent in fiscal launch on December 12, 2015. The OLC will allow 2013, and 89 percent in fiscal 2012. Shorter learning development partners, policy-makers, specialists, rnin activities taken by an increased number of employees World Bank staff, and a broader public to learn who are more selective in their learning choices is together, applying just-in-time learning to key (numb r of l consistent with delivering learning activities that are development challenges and working through solutions more closely aligned with business needs, and therefore together. It builds on the success of the e-Institute, valued more by employees. which has piloted a systematic and structured FY13 FY14 FY15 The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 25 approach to e-learning for clients over the past three Informal Services Available for Bank Staff Mediation Services offers staff an impartial third party years. The OLC is envisioned as a single destination When staff seek help early, their issues can be resolved who helps two or more participants better understand for both employee and client learning. by one of the following informal services. Ninety- their issues, interests, and needs in an effort to reach five percent of cases are handled successfully—and voluntary agreements. Seventy-three percent of cases The Open Learning Campus will consist of three confidentially—by an informal procedure. that complete the mediation process—those that are “schools”: WBx (talks or bite-size learning); WBa not withdrawn or closed by the mediator—are settled. (academy or structured learning, including online Respectful Workplace Advisors (RWAs) are volunteer The other cases may continue to other Internal Justice courses, facilitated learning, and Massive Open Online staff members trained to guide other staff. There are services. When a case is settled by mediation, a final, Courses [MOOCs]); and WBc (connect or peer learning, a total of 216 RWAs, 183 in Country Offices where binding agreement defines the specific terms reached exchanging experiences through communities of more than 15 staff operate. The other 33 are located at by the parties involved. During fiscal 2015, Mediation practice and knowledge hubs). headquarters, in Washington, DC. RWAs conducted Services opened 168 cases. The innovative learning initiative aims to help 676 consultations with staff during fiscal 2015. employees plan more intentionally their learning Ombuds Services are provided by three highly trained journey in line with business needs and career path and experienced full-time professionals who are aspirations. The initiative also aims to increase independent from formal management. Two Ombuds 95 knowledge-sharing with clients. A preview of the Open % are located in Washington, DC, and one works in Learning Campus, consisting of five MOOCs developed Bangkok. They respond to staff with confidential by the World Bank, attracted more than 100,000 advice, and also provide management with feedback participants from 201 countries and territories. about general trends that may be affecting staff at the Bank, making recommendations for changes. In of users of Mediation Resolving Conflict some situations, Ombuds may facilitate informal conversations between staff and others, at the request Services report that of the initiating staff member. During fiscal 2015, the process was useful Promoting a positive and respectful workplace helps the Bank retain the world’s top talent. Conflict, a Ombuds held 773 consultations with staff. regardless of the natural occurrence in the workplace, is addressed outcome. through the Bank’s sophisticated Internal Justice System, which offers both informal and formal mechanisms. Staff are encouraged to raise their concerns so that they can be actively addressed, ensuring a better and more productive working environment for everyone. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 26 Formal Services Available for Bank Staff The World Bank Administrative Tribunal is the investigations), as well as allegations of significant Peer Review Services include an independent review independent judicial forum of last resort for the fraud and corruption involving Bank staff and vendors of managerial decisions, actions, or inactions affecting resolution of cases alleging nonobservance of contracts (internal investigations). INT also pursues sanctions a staff member. The review determines whether the of employment or terms of appointment. The Tribunal is against firms and individuals who have engaged in decisions were consistent with the staff member’s composed of seven external judges appointed for fixed sanctionable misconduct. The resulting debarments terms of appointment or conditions of employment. terms. Their decisions—24 in fiscal 2015—are final prevent these parties from participating in future and binding. Bank-financed projects and serve as a deterrent to A panel of trained volunteer staff peers conducts the other potential wrongdoers. review and may recommend that the Bank award relief to the staff member and/or take corrective measures. Other Internal Justice System Services In fiscal 2015, INT received 323 complaints about The recommendation is sent to the line Vice President, Other formal investigation services under the umbrella possible fraud and corruption in World Bank-financed who consults with the Vice President of Human of the Internal Justice System include the Office of projects leading to 99 new investigations. Among Resources to reach a final decision. During fiscal 2015, Ethics and Business Conduct Vice Presidency (EBC) those reporting allegations of possible misconduct 54 cases were brought to Peer Review Services, and and the Integrity Vice Presidency (INT). were 25 government officials in countries of operations the decision-makers accepted all of the Peer Review EBC engages in training and communication on and 89 Bank Group staff. The investigations that Panel’s recommendations. business conduct, provides advice on conflict-of- substantiated sanctionable misconduct in fiscal 2015 interest risks, and investigates allegations of staff involved 61 projects and 93 contracts worth about misconduct. Additional information can be found in $523 million. EBC’s Annual Reports. In fiscal 2015, EBC received 297 complaints about A Growing Caseload in a Time of Change possible staff misconduct leading to 46 formal Demand for informal services provided by Internal Justice units (RWA, Ombuds, and Mediation) has grown Promoting a positive and investigations. The largest categories of allegations were harassment (32 percent), non compliance with by 30 percent in the past two years, from 1,242 cases respectful workplace helps Staff Rules (23 percent), and abuse of authority (18 percent). EBC investigations resulted in 29 in fiscal 2013 to 1,617 cases in fiscal 2015. The caseload for formal services went from 57 to 82 cases in the the Bank retain the substantiated cases that were referred to the Bank’s same period. Increased outreach to Country Offices and the recent institutional change agenda have accounted world’s top talent. Vice President of Human Resources for a determination of whether the matter constituted misconduct and of for the growth in overall caseload. Ninety-five percent appropriate disciplinary measures. of cases are still being addressed by one of the informal services, which is in line with the overall Internal Justice INT investigates allegations of fraud and corruption objective of addressing and resolving issues at the in World Bank-supported activities (external lowest possible level. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 27 Internal Justice Services has continued to deliver help new Country directors and managers understand empowered to do their jobs. The SA’s Employee Value quality assistance. For instance, 96 percent of staff how these services support the mission of the Bank. Proposition (EVP) scorecard is intended to encourage using Ombuds Services believe that they were treated Internal Justice Services also provides trainings, some people to join the World Bank and to keep the with respect and that Ombuds maintain confidentiality. of which are delivered to the volunteer RWAs and Peer organization competitive, in support of its twin goals. The same percentage feels that using Ombuds Services Reviewers. From fiscal 2010-15, 963 staff in DC and The Staff Association Chair meets regularly with was easy and convenient. Ninety-five percent of users Country Offices received “Conflict Competencies” training. Advisors to the Board of Executive Directors. The of Mediation Services report that the process was SA composes statements to present to the Board, useful regardless of the outcome. These high levels of satisfaction reported by users of informal services have Staff Representation and posts them on the employee Intranet, usually in response to a Bank management proposal. remained fairly constant for several years. The right of staff to associate is expressly recognized in Principle 10 of the World Bank Group Principles of Staff Global Involvement Employment, and applies to all staff at all locations. Country Office staff were historically underserved by The Staff Association (SA), established in 1972 to serve Internal Justice Services. During the past five years, a critical role by representing the rights of Bank staff, the Internal Justice System has focused on outreach to “promotes and safeguards the rights, interests, working staff located in Country Offices. conditions, and welfare of all members of the World 65 % One hundred eighty-three RWAs, and one of the Bank Group staff, at headquarters and in country.” Ombuds, are located outside of Washington, DC. That’s evidenced by the record 10,400-plus paying Mediation Services has a network of 26 professional members (full-time and consultants) at the close of mediators, of which 20 are located outside of DC. Staff fiscal 2015. That’s roughly 65 percent of the entire working in Country Offices represent 75 percent of the Bank Group population—at headquarters and in the of the entire World caseloads for RWAs, 42 percent of Ombuds Services, 127 Country Offices. Bank Group population and 35 percent of Mediation Services. are Staff Association The SA’s impact reaches beyond its membership. The At headquarters and in Country Offices, Internal Association is committed to serving 100 percent of members. Justice Services conducts presentations designed to the Bank’s employees. Its goals are to foster a sense of introduce staff to the Internal Justice Services, and to common purpose, and to protect and boost staff to feel The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 28 Advocating for Staff in a Time of Change Adopting a New Approach The SA reached out to the President’s office and the In fiscal 2015, the Staff Association changed its ADDRESSING COUNTRY OFFICE ISSUES Human Resources VP to request greater collaboration approach to communicating with its membership — and two-way communication with staff. This from casual to corporate. The website is currently Before fiscal 2015, when a country’s currency culminated in a town hall in October 2015, at which under a redesign to reflect the SA’s new persona was devalued, World Bank staff applied for the President spoke directly with staff and answered and administration. restitution. Each case was treated on an a host of questions about the reorganization. Much of fiscal 2015 was devoted to the biannual ad hoc basis. Resolution could take time. In 2014, the SA organized events to answer staff election, which was high-pressure and highly contested Country Office compensation during economic questions about the impacts of the reorganization, this term because of aggressive support for a number of disruption was devalued in Mali, Argentina, bringing in legal counsel to share their expertise. candidates. In addition to the new Chair, 69 delegates Ukraine, Russia, and other member countries. Both “Know Your Rights” and “Five Things You Need and 13 Executive Committee Members were elected. to Know during This Time of Change” seminars were The Staff Association assisted HR in liaising held in every headquarters building. Country Office On the Horizon with staff in affected countries, and HR Staff Associations (COSAs). were included via WebEx A big challenge for fiscal 2016 will be working to presented the jointly developed proposal videoconferencing. ensure senior management follows up on the Employee to the Board for approval. The result was The gatherings covered legal support available, staff Engagement Survey results with concrete solutions. the establishment by HR of a process that rights, where to turn in the Bank with an issue, and In addition, the SA will be actively involved in a host of thematic issues such as strategic staffing, constantly monitors global macroeconomic what it means to be designated as “redundant.” Both seminars were highly popular, and led to a Bank-wide career development, global mobility, changes in the conditions. In this way, the Bank can provide Staff Association town hall in November 2014. More medical benefits plan, strengthening the Employee Special Compensation Measures when needed than 3,000 staff participated (both in person and Value Proposition, and improving the performance by Country Office staff. connected online). management system. Throughout the fiscal year, SA office staff, including the SA Chair and Legal Counsel and Staff Relations Officers, traveled to more than 15 countries in four of the Bank’s regions. This enabled SA management to learn about employee concerns and to address the issues specific to each Country Office. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 29 Our Finances The World Bank combines an integrated package of premier development knowledge and expertise with significant financial resources to advance the twin goals of ending extreme poverty and boosting shared prosperity. Fiscal 2015 efforts continued the focus on enhancing the Bank’s capacity and resources by increasing revenues, reducing costs, and reinvesting in the institution. These enhance the Bank’s financial strength to serve growing demand from clients and meet an ambitious development agenda. How It Works  Strengthening $ our Finances Green Bond Growth Lending to Support the Twin Goals The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 30 AAA (Moody’s/S&P)—by the major rating agencies, deployed for lending are held in IBRD’s investment How It Works and investors view its bonds as high-quality securities. portfolio to supply liquidity for its operations. The funding strategy is aimed at achieving the best The World Bank’s funding program reached a record The World Bank lends to two different groups of long-term value on a sustainable basis for borrowing $57 billion in fiscal year 2015. The large amount was countries: the International Bank for Reconstruction members. IBRD’s ability to intermediate the funds it achieved because of bigger lending volumes over the and Development—IBRD—strives to reduce poverty raises in international capital markets to developing past few years as well as higher liquidity needs, which in middle-income and credit-worthy poorer countries member countries is important in helping to achieve are essential in today’s markets. To raise that record through loans, guarantees, risk-management its goals. amount, IBRD offered large global transactions as well products, and analytical and advisory services. Its companion organization, the International Development IBRD’s business model as customized and innovative products to its broad and Association—IDA—offers below-market-rate financing diverse investor base from around the world. to the world’s poorest countries, primarily through Other Development Activities Funding for development IDA and Trust Funds credits and grants. (See www.worldbank.org/ibrd IBRD’s main business activity is extending loans to its Income and www.worldbank.org/ida.) Borrowings Investments eligible member countries to support their development Projects funded by IBRD and IDA include the following efforts with an emphasis on social and environmental sectors: education, health, public administration, Loans sustainability. It offers its borrowers long-term infrastructure, financial and private-sector loans that can have a final maturity of up to 35 years. development, agriculture, and environmental and natural resource management. These are specifically Equity designed to achieve social and environmental IBRD Lending Highlights (millions) development outcomes. Projects are designed in IBRD issues its securities both through global offerings Commitments Gross disbursements partnership with country members and take into and bond issues tailored to the needs of specific account the World Bank’s policies that serve to protect markets or investor types. This is done by offering vulnerable people and the environment in World Bank bonds to investors in various currencies, maturities, $26,737 investment projects. $23,528 and markets, and with fixed and variable terms, often $20,582 opening up new markets for international investors by $18,761 $21,879 $16,030 IBRD offering new products or bonds in emerging-market $19,777 $18,604 $19,012 To fund development projects in member countries, currencies. IBRD’s annual funding volumes vary from $15,249 IBRD’s loans are financed through its equity and from year to year. This strategy has enabled IBRD to borrow money borrowed in the capital markets through the at favorable market terms and pass the savings on issuance of World Bank bonds. IBRD is rated—Aaa/ to its borrowing members. Funds not immediately FY11 FY12 FY13 FY14 FY15 The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 31 Borrowers may customize their repayment terms to IDA’s business model meet their debt management or project needs. Loans Repayment of concessional partner loans Development credits and grants are offered at both fixed and variable interest rates, and borrowers can choose the currency denomination of their WBG transfers Recipients IDA loans from a variety of currencies, though borrowers generally prefer loans in US dollars and euros. IBRD Development partners—grants contributions Development credit repayments, also provides risk-management tools such as derivative and concessional partner loans service and commitment charges, and interest on hard term credits instruments, including currency and interest-rate swaps. Administrative expenses Compensation for forgone service charges due to debt relief Managing IBRD’s risk As part of IBRD’s lending, borrowing, and investment activities, IBRD is exposed to market, counterparty, IDA is currently in its Seventeenth Replenishment of IDA Lending Highlights (millions) and country credit risks. To manage these risks, IBRD resources (IDA17), which began on July 1, 2014. After has put in place a strong risk-management framework, the effects of hedging for certain foreign-exchange risk Commitments which supports management in its oversight functions. related to IDA17, the revised lending envelope for IDA17 (development credits, grants, and guarantees) This framework is designed to enable and support was Special Drawing Rights (SDR) 33.7 billion (US dollar Gross disbursement IBRD in achieving its goals in a financially sustainable equivalent 50.8 billion). Of these resources, as of June (credits and grants) manner. (See IBRD Management’s Discussion & 30, 2015, $28.4 billion was available for commitments Analysis [MD&A]). of development credits, grants, and guarantees. $22,239 $18,966 Managing IDA’s risk $16,269 $16,298 IDA IDA’s risk-management processes and practices $14,753 IDA is funded largely by contributions from developed continually evolve to reflect changes in activities in and middle-income partner countries and provides response to market, credit, product, operational, and $13,432 $12,905 $11,061 $11,228 development credits, grants, and guarantees to the other developments. As with IBRD, these processes $10,282 least developed countries. Additional financing comes are based on a strong risk-management framework, from IBRD’s net income, grants from the International which supports management in its oversight functions. Finance Corporation (IFC), and borrowers’ repayments (See IDA Management Discussion and Analysis). FY11 FY12 FY13 FY14 FY15 of earlier IDA development credits. Donors meet every IBRD and IDA’s financial statements and MD&As three years to replenish IDA’s funds and review provide a high-level and strategic overview of the its policies. business models, governance, risk-management strategies, and performance of each entity. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 32 Green Bond Growth $ Strengthening our Finances HARMONIZING GREEN BOND The World Bank started issuing green bonds in 2008 to We introduced a range of measures to increase IBRD’s IMPACT REPORTING respond to investor requests that came at a time when lending capacity by growing revenues, by making The impact reporting for the World Bank’s green the World Bank was seeking to support innovation in “smart” changes to loan terms and revising our bond program benefited from close collaboration the area of climate finance. Projects eligible for green prudential ratios to reflect improvements in our portfolio with investors and other issuers. In November 2013, bonds include wind power, solar power, technologies credit quality, and by controlling costs. This fiscal year after the green bond market had seen extensive to reduce greenhouse gas (GHG) emissions, waste the World Bank Group concluded an expenditure review, growth, the World Bank Treasury team convened a management, transport efficiency, energy efficiency, which was intended to strengthen the institution’s discussion with other key players at reforestation, and sustainable forest management. financial base and ensure the institution’s financial a World Bank Green Bond Symposium. sustainability. The review identified savings of $404 With its first green bonds, IBRD developed a new, liquid, million during fiscal 2016–2018—8 percent of the World A few months later, the World Bank’s Investor “plain vanilla” product that mobilized private-sector Bank Group’s total expenditures. Because almost three- Relations team launched an initiative to collaborate financing for projects that help mitigate climate change with other international development institutions quarters of the savings comes from reductions in general and help affected countries adapt to it and build active in the green bond market and work toward service and administrative costs, the impact on client climate resilience. By the end of fiscal 2015, the World greater harmonization in impact reporting. The services will be minimal. Bank had issued about $8.4 billion through 100 green team coordinated an informal working group bond transactions in 18 different currencies. that focused on a more consistent framework for impact reporting—providing clearer quantitative Measuring and reporting the expected impact of Lending to Support and qualitative information about the climate and projects so that investors can inform their stakeholders the Twin Goals environmental impacts of projects to which green is an important part of an issuer’s green bond process. In July 2015, the first World Bank Green Bond Impact By leveraging its strengths, expertise, and resources, bond proceeds have been allocated. Report was published to give investors an overview of the World Bank helped countries and other partners They brought together climate specialists and the expected social and environmental outcomes for make a real impact on development—by driving treasury officials from the African Development each project. economic growth, promoting inclusiveness, and ensuring Bank (AfDB), the European Investment Bank (EIB), the sustainability. The Bank’s fiscal 2015 lending activities International Finance Corporation (IFC), and the World prioritized projects that will help clients to achieve the Bank (IBRD). The participants collaborated so that twin goals of ending extreme poverty in a generation and their work could serve as a reference for other green boosting shared prosperity. The institution’s efforts are bond issuers to adopt and/or adapt to their needs as recounted in The World Bank Annual Report 2015 and they set up their own impact reporting. The report the Financial Statements and Management’s Discussion was published in March 2015: Working Towards a and Analysis for IBRD and IDA. Harmonized Framework for Impact Reporting. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 33 Our Mission The World Bank, one of the world’s largest sources of funding and knowledge for developing countries, is committed to eliminating extreme poverty, increasing shared prosperity, and promoting sustainable development. Not a bank in the ordinary sense but a unique partnership to reduce poverty and support development, the World Bank comprises two of five institutions. About Living Our Values Strategy Tracking Progress The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 34 administration, infrastructure, financial and private- Supporting the sector development, agriculture, and environmental- Developing World and natural-resource management. IBRD and IDA are OUR MEMBERS two of the five institutions that make up the World Operating as a cooperative, IBRD’s 188 member countries The International Bank for Reconstruction and Bank Group. The others—the International Finance Development (IBRD) lends to governments of and IDA’s 173 member countries are represented by Corporation (IFC), the Multilateral Investment a Board of Governors. They meet once a year at the middle-income and credit-worthy countries. The Guarantee Agency (MIGA), and the International International Development Association (IDA)—through Annual Meetings of the Boards of Governors of the Centre for Settlement of Investment Disputes World Bank Group and the International Monetary Fund. interest-free loans, or credits, and grants—supports (ICSID)—have separate reports. the poorest developing countries. Together, these For more information, see the list of the current agencies of the World Bank support a wide array of The World Bank offers a wide range of investment Boards of Governors, the Articles of Agreement, investments in such areas as education, health, public solutions, including innovative financing instruments and voting shares. and banking products, to meet development challenges. They are all designed to support governments in Twenty-five Executive Directors work onsite at the eliminating extreme poverty and boosting prosperity. Bank and oversee the World Bank Group’s policies and Some projects are co-financed with governments, procedures, financial condition, risk-management and other multilateral institutions, commercial banks, -assessment processes, adequacy of governance and export credit agencies, and private-sector investors. controls, and effectiveness of development and poverty- In addition, the Bank provides or facilitates financing reduction activities. The five largest shareholders through trust-fund partnerships with bilateral and appoint an executive director, while other member multilateral donors. countries are represented by elected executive directors. The World Bank also supports developing countries For more information about the Board of Executive through policy advice, research and analysis, and Directives, visit Boards at Work, Board Calendar, technical assistance. Its analytical work often Board Minutes, Voting Powers, and Board FAQ. underpins Bank financing and helps inform developing countries’ own investments. Even more support goes The World Bank Group operates day to day under toward capacity development in member countries. the leadership and direction of the President, senior In addition the World Bank sponsors, hosts, or management, and the vice presidents in charge of participates in many conferences and forums on issues Global Practices, Cross-Cutting Solutions Areas, of development, often in collaboration with partners. Regions, and Functions. Each of the Bank Group agencies differs in its management structure. See the Organization Chart for details. The 2015 Sustainability Review Our Climate Our Places Our People Our Finances Our Mission 35 An Aggressive Strategy Living Our Values Tracking Progress with Ambitious Goals The World Bank Group’s Core Values embody the high The ability to make progress relies on the commitment At the 2013 Annual Meetings, the World Bank adopted ethical standards of the organization and underlie the to painstakingly measure and interpret collected a new World Bank Group Strategy. It aligns the work mission of ending extreme poverty and boosting shared data—both quantitative and qualitative, both positive and of all Bank Group institutions with the twin goals of prosperity. The Core Values are: negative. The World Bank employs many mechanisms eliminating extreme poverty and boosting shared for tracking progress toward a sustainable future. • Personal honesty, integrity, and commitment; prosperity in a sustainable manner. • Working together in teams—with openness and trust; Explore The World Bank Annual Report • Empowering others and respecting differences; 2015 for progress on the twin goals during The strategy’s three pillars • Encouraging risk-taking and responsibility; and the fiscal year. The International Bank 1. The World Bank Group will deliver results for clients • Enjoying our work and our families. for Reconstruction and Development through country programs and regional and global (IBRD) and the International Development engagements by offering knowledge and solutions to The success of the World Bank Strategy is dependent Association (IDA)—together, the World the toughest development challenges. Bank—joined with countries in its six global on an institutional culture that embraces these values. regions to end extreme poverty by 2030, 2. Closer collaboration across the Bank Group will For this purpose, the Bank has established a Vice promote shared prosperity, and support the multiply the strengths of each institution by using Presidency dedicated to the promotion, development, global sustainable development agenda. their combined resources and expertise to serve and application by staff of these mission-driven values. clients as the “Solutions World Bank Group.” The Office of Ethics and Business Conduct (EBC) World Bank Group | World Bank Corporate Scorecards Examine the World Bank Corporate APRIL 2015 3. Leveraging the partnerships, resources, and reports directly to the President, and is set up to Scorecard for results of client projects provide training, outreach, and communication to foster supported by the Bank and operational expertise of the private sector and other and organizational effectiveness, plus an development actors will help the Bank Group awareness of and adherence to ethical obligations overview of progress on key development maximize the impact of development in alignment of Bank Group staff members, advise staff members challenges faced by member countries. with the twin goals. on conflict-of-interest risks, review and investigate allegations of staff misconduct, and track trends and provide insights to senior management. 9210_SCORECARD1.indd 1 4/14/15 3:59 PM Watch the President’s Delivery Unit’s The office is accessible to all staff members and their real-time reports for progress toward families. It can be contacted through the Ethics specific targets leading to achievement of Helpline email (ethics_helpline@worldbank.org) and the twin goals: investing in a zero-carbon future, supporting crisis response and anonymously through the Ethics Helpline toll-free recovery, and 10 more. number (800–261–7497) 24 hours a day, 7 days a week. Visit the Code of Conduct page. ABOUT THE REPORT RESULTS: WHAT IS IN THE REPORT? The 2015 Sustainability Review provides insights into World Bank activities undertaken The impacts discussed in The 2015 Sustainability Review are related to the Bank’s “corporate” between July 1, 2014, and June 30, 2015, to manage the environmental, social, and economic impacts. The most material aspects of the Bank’s internal operations include the following: impacts of internal business operations. The Review is based on the internationally recognized standard for sustainability reporting—the Global Reporting Initiative (GRI). A stand-alone 1. The Bank recognizes that reducing its own corporate environmental impacts is in line with index of indicators in accordance with the GRI guidelines: core option can be found here. the institutional mission to reduce poverty, as environmental degradation affects the world’s poor disproportionately. Increasing the efficiency of how the organization runs its business — Materiality: The topics deemed relevant for disclosure in The Sustainability Review were through facility-level and staff-behavior changes—reduces natural-resource waste and identified by considering annual corporate priorities outlined by the institution’s Boards decreases the cost of day-to-day operations. Key aspects related to the Bank’s environmental and President and by valuing stakeholder input, as well as by ascertaining sustainability footprint include the following: energy, emissions, effluents and waste, and procurement impacts of carrying out the Bank’s mission and strategy. GRI aspect categories were used to practices (including supplier environmental assessment, supplier assessment for impacts on determine topics to be included in The Sustainability Review. Relevance was determined by society, and supplier human rights assessment). Based on the materiality methodology, the assessing (1) the potential impact on the Bank’s business and (2) the sustainability impacts aspects “materials” and “procurement practices” were not deemed important to report on. stemming from its business. Details of the materiality exercise carried out are available in This was mainly because World Bank stakeholders were not asking the Bank how it managed the GRI Index. its corporate procurement practices. The Bank continues to consider its procurement practices an essential part of reducing its footprint impact; therefore, information about Boundary: The World Bank’s corporate operations address how Bank buildings and staff, these practices are included in The 2015 Sustainability Review. and the communities that host Bank offices, are managed with the environment, society, and economy in mind. This type of impact is referred to as “corporate,” and is the basis of 2. The World Bank’s staff is its greatest asset. They bring a wide range of perspectives to bear this year’s Sustainability Review. Simultaneously, GRI indicators related to these impacts on poverty-reduction issues and emerging development challenges, and are critical to the are categorized as “corporate” indicators. This Review complements The World Bank effectiveness of the Bank’s core operational and knowledge services. Staff-related indicators Annual Report 2015, which addresses the World Bank’s impacts from work with member are pulled from the following GRI aspect categories: economic performance, market presence, countries. This type of impact is referred to as “operational” impact. Topics stemming from employment, occupational health and safety, training and education, diversity and equal Bank work with clients are discussed in further detail in the GRI Index indicators specified as opportunity, labor practices, grievance mechanisms, and nondiscrimination. “operational,” as well as in The World Bank Annual Report 2015. 3. As a development institution, it is essential to maintain the Bank’s financial strength Scope: The World Bank consists of two agencies: the International Bank for Reconstruction to serve growing demand from clients and meet an ambitious development agenda. Our and Development (IBRD) and the International Development Association (IDA). Except for economic performance is better understood by grasping the unique business models and the eligibility of support and terms of lending to member countries, the agencies are tightly associated risks for the two agencies that make up the World Bank. integrated and work as a single unit. Send questions and comments about the GRI Index to crinfo@worldbank.org.