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Cover design: World Bank Global Corporate Solutions, Creative Services GRI INDEX 2021 This 2021 World Bank GRI Index is an inventory of the sustainability considerations Defining The Report used in World Bank (Bank) lending and analytical services as well as its corporate practices. This sustainability disclosure index has been prepared in accordance Methodology for Determining Materiality with the Core option of the GRI Standards.1 The GRI Index covers activities carried The topics deemed relevant for disclosure were identified by assessing annual cor- out during fiscal 2021, from July 1, 2020, to June 30, 2021. The COVID-19 pandemic porate priorities outlined by the institution’s Boards and President, considering has impacted the Bank’s operations and staff activities through reduced travel, an stakeholder input, as well as by ascertaining sustainability impacts of carrying out extended shutdown of its offices, and a shift in staff health services. Where signifi- the mission and vision. Stakeholder feedback is gained through three key chan- cant, these impacts have been noted in the report. nels: the Country Opinion Survey (COS) Program, civil society feedback, and que- ries from environmental, social, and governance (ESG) research groups. About The World Bank To determine if a GRI aspect is material for the Bank to report on, an assessment The World Bank Group (Bank Group) plays a key role in global efforts to end extreme is carried out based on the potential impacts on the Bank’s business and sustain- poverty and boost shared prosperity. It consists of five institutions: the World ability impacts stemming from its business. The business-case category evaluates potential reputational risks to the organization, the importance to stakeholders Bank, which includes the International Bank for Reconstruction and Development (based on the above sources), the linkages with the Bank’s mission and goals, and (IBRD) and the International Development Association (IDA); the International those identified as material in the Bank’s Corporate Responsibility Strategic Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); Plan. The sustainability impact refers to environmental and social criteria, as out- and the International Centre for Settlement of Investment Disputes (ICSID). lined by the Natural Step, namely, material extracted from the earth’s crust; the Working together in over 140 countries, these institutions provide financing, tech- accumulation of persistent or toxic emissions; extractive industry or destructive nical advice, and other solutions that enable countries to address the most urgent processes; and the extent to which people’s ability to meet their needs are under- development challenges. mined. To ensure representation of sustainable development, an additional crite- The GRI Index reports on the activities of the World Bank (IBRD and IDA). Except for rion was added to give preference for impact on the local economy. their member countries’ eligibility for support and terms of lending, IBRD and IDA The Reporting Principles or defining report content, outlined by the GRI, have are integrated and work as a single unit. Certain practices and projects, however, been applied to identify, prioritize, and validate the information to be disclosed span across the World Bank Group and are, therefore, cited as such in the text. by considering the activities and impacts of the Bank and the substantive expec- tations and interests of its stakeholders. Each criterion above is given a point, and a threshold is set to prioritize GRI aspects to include in the report, as determined and validated by an internal focus group that met in May 2021. The Bank reports on 1. The Core option indicates that a report contains the minimum information needed to understand the nature of an each topic that garners four or more points, deeming them to be material topics. organization, its material topics and related impacts, and how these are managed. 1 WORLD BANK GRI INDEX 2021 2021 RESULTS: WHAT IS MATERIAL? 3. Biodiversity: Through lending and grant support to client countries, the Bank Group is one of the largest international funding sources for biodiversity Boundaries are defined based on where the impacts occur for a material topic. Indirect impacts lay within the “operational” boundary. Direct impacts fall within worldwide. the “corporate” boundary. For each material topic, boundaries are specified in the 4. Human Rights/Child Labor/Indigenous Rights: The Bank promotes human management approach disclosures. rights through its projects, for example, improving poor people’s access to Impacts external to the organization [“operational boundary”] health, education, food, and water; promoting the participation of Indigenous Peoples in decision making; strengthening the accountability and transparency “Operational boundary” denotes indirect impacts that occur in member countries of governments to their citizens; supporting justice reform; and fighting as a result of World Bank lending and analytical services and may not be directly controlled by the Bank’s management. Impacts stemming from the World Bank’s corruption. work with clients are specified as “operational impacts.” 5. Local Communities: The Bank recognizes that community-designed Impacts internal to the organization [“corporate boundary”] development approaches and actions are important elements of an effective poverty reduction and sustainable development strategy. “Corporate boundary” refers to the impact from activities over which the Bank has direct control, such as operating World Bank facilities and managing 6. Anti-corruption: Critical to the Bank’s mission to alleviate extreme poverty is staff  members. a well-functioning public sector that delivers quality public services consistent with citizen preferences and fosters private-sector and market-led growth Operational impact while managing its fiscal resources in a prudent manner. Opinion leaders in the The World Bank’s most pertinent sustainability impacts from financial and techni- Bank’s client countries have listed anti-corruption as one of their development cal services to clients can be summarized in the following. priorities. Corporate Impact GRI-Related Aspects 1. Economic Performance: Creating and distributing economic value is part of The most material aspects of the Bank’s internal operations include the following: the mission of eliminating extreme poverty and boosting shared prosperity; shareholders and investors care about the sustainable economic performance 1. Staff are the Bank’s greatest asset. Staff bring a wide range of perspectives of the institution. to bear on poverty reduction issues and emerging development challenges and are critical to the effectiveness of the Bank’s core operational and 2. Indirect Economic Impacts: Indirect economic impacts are an essential knowledge services. Staff-related indicators are pulled from the following GRI aspect of the Bank’s goal of reducing poverty and boosting shared prosperity. aspect categories: Economic Performance, Market Presence, Employment, Occupational Health and Safety, Training and Education, Diversity and Equal Opportunity, and Non-discrimination. 2 WORLD BANK GRI INDEX 2021 2. The Bank recognizes that reducing its own corporate environmental decreases the cost of day-to-day operations. Key aspects related to the Bank’s impacts is in line with the institutional mission to reduce poverty, as environmental footprint include: materials, energy, water, emissions, effluents environmental degradation disproportionately affects the world’s poor. and waste, biodiversity, and procurement practices. Increasing the efficiency of how the institution runs its business, through Questions and comments about the GRI Index should be addressed to the facility-level and staff behavior changes, reduces natural-resource waste and World Bank Corporate Responsibility Program at: crinfo@worldbank.org. 3 WORLD BANK GRI INDEX 2021 List of Acronyms AED Alternate Executive Director EUR Euro AHC Anti-Harassment Coordinator FCV Fragile, Conflice, and Violence APEC Asia Pacific Economic Cooperation FSC Forest Stewardship Council CCAP Climate Change Action Plan FTE Full-Time Equivalent CDP Carbon Disclosure Project GAAP Generally Accepted Accounting Principles CEN Country Engagement Note GBP British Pound Sterling CODE Committee on Development Effectiveness (Board) GDP Gross Domestic Produce COGAM Committee on Governance and Executive Directors’ GEF Global Environment Facility Administrative Matters (Board) GFDRR Global Facility for Disaster Reduction and Recovery COS Country Opinion Survey GHG Greenhouse Gas CPF Country Partnership Framework GRS Grievance Redress Service CSO Civil Society Organization GWP Global Warming Potential CSPF Civil Society Policy Forum HRD Human Resources Vice Presidency DAC Development Assistance Committee HSD Health and Safety Directorate DSSI Debt Service Suspension Initiative IAD Internal Audit Vice Presidency EBC Ethics and Business Conduct Department IBRD International Bank for Reconstruction and EC European Commission Development ERC Enterprise Risk Management Committee ICR Implementation Completion and Results Report ESA Environmental and Social Assessment ICSID International Centre for Settlement of Investment Disputes ESF Environmental and Social Framework IDA International Development Association ESG Environment, Social, and Governance IEG Independent Evaluation Group ESS Environmental and Social Standards 4 WORLD BANK GRI INDEX 2021 IFC International Finance Corporation OHS Occupational Health and Safety IMF International Monetary Fund OLC Open Learning Campus INCAF International Network on Conflict and Fragility PPE Personal Protective Equipment INT Integrity Vice Presidency RIMP Refugee Investment and Matchmaking Platform IPF Investment Project Financing RMS Results Measurement System JCR Joint Committee on Remuneration of Executive RWS Reduced Work Schedule Directors and Alternate Executive Directors (Board) SAC Sanctions Advisory Committee MD&A Management Discussion & Analysis SCD Systematic Country Diagnostic MDB Multilateral Development Bank SDG Sustainable Development Goals MIGA Multilateral Investment Guarantee Agency SEP Stakeholder Engagement Plan OECD Organisation for Economic Co-operation and UN United Nations Development NOTE: All dollar amounts are U.S. dollars unless otherwise indicated. 5 WORLD BANK GRI INDEX 2021 TABLE OF CONTENTS Material Topics Disclosed General Disclosures Economic Disclosures Environmental Disclosures Social Disclosures Organizational Profile...................7 Economic Performance...............26 Materials......................................39 Human Resources.......................50 Strategy........................................11 Economic Impacts.......................30 Energy..........................................40 OH&S............................................56 Ethics and Integrity.....................14 Procurement Practices...............32 Water............................................43 Staff Learning..............................58 Governance.................................16 Anti-corruption............................35 Biodiversity..................................44 Diversity and Inclusion................60 Stakeholder Engagement...........17 Emissions.....................................45 Nondiscrimination......................63 Reporting Practice......................24 Effluents and Waste....................48 Child Labor..................................64 Indigenous Peoples.....................69 Human Rights..............................70 Local Communities.....................71 Customer Privacy........................72 6 WORLD BANK GRI INDEX 2021 General Disclosures GRI 100  General Disclosures MATERIAL TOPICS: ORGANIZATIONAL PROFILE, STRATEGY, ETHICS AND INTEGRITY, GOVERNANCE, STAKEHOLDER ENGAGEMENT, REPORTING PRACTICE 102-1:  NAME OF THE ORGANIZATION The World Bank consists of the International Bank for Reconstruction and Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Development (IBRD) and the International Development Association (IDA). It International Centre for Settlement of Investment Disputes (ICSID). For more is part of the World Bank Group, which also includes the International Finance information, see: https://www.worldbank.org/en/about. 102-2:  ACTIVITIES, BRANDS, PRODUCTS, AND SERVICES Established in 1944, the Bank works in every major area of development. The Financial Products and Services Bank provides a wide array of financial products and technical assistance to • Since 1947, the Bank has funded more than 12,000 development projects, developing countries and helps countries apply innovative knowledge and solu- via traditional loans, interest-free credits, and grants to developing coun- tions to the challenges they face. tries. These projects support investments in areas such as agriculture, The Bank is a vital source of financial and technical assistance to develop- education, environmental and natural resource management, finan- ing countries around the world. Its work is anchored in two goals: to end cial and private-sector development, health, infrastructure, and public extreme poverty—reducing the share of the global population living in extreme administration. Some of the Bank’s projects are co-financed with govern- poverty to no more than 3 percent by the year 2030; and to promote shared ments, other multilateral institutions, commercial banks, export credit prosperity—promoting income growth of the bottom 40 percent of the popula- agencies, and private sector investors. tion. Both goals must be met in a sustainable manner. • The Bank also provides or facilitates financing through trust-fund part- To attain its goals, the Bank offers: nerships with bilateral and multilateral donors. Many partners have asked the Bank to help manage initiatives that address needs across a wide range of sectors and developing regions. 7 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES Innovative Knowledge Sharing • The Bank’s Access to Information Policy has been the catalyst for ini- tiatives such as Open Data, Open Knowledge Repository, and Open • The Bank offers support to developing countries through policy advice, Finances. The Bank’s Open Learning Campus (OLC) is a destination for research and analysis, and technical assistance. The Bank’s analytical development learning that builds the leadership and technical capabili- work often underpins its financing and helps inform developing countries’ ties of development stakeholders, partners, practitioners, policy makers, own investments. In addition, the Bank supports capacity development staff, and the public. in its member countries. It also sponsors, hosts, and participates in many conferences and forums on development issues, often in collaboration For more information, see www.worldbank.org/en/about/what-we-do and with partners. www.worldbank.org/en/projects-operations/products-and-services. 102-3:  LOCATION OF HEADQUARTERS The Bank headquarters are located in Washington, D.C., in the United States. 102-4:  COUNTRIES WHERE THE ORGANIZATION OPERATES AND HAS SIGNIFICANT OPERATIONS The Bank is a global organization. IBRD is owned by 189 member countries 140 locations worldwide. There are 168 Bank facilities worldwide. For a com- and IDA is owned by 173 member countries. Bank staff work out of more than plete list of locations, see: https://www.worldbank.org/en/about/contacts. 102-5:  OWNERSHIP AND LEGAL FORM The Bank is not a bank in the traditional sense but a unique partnership com- improve people’s living conditions. In addition to concessional loans and grants, mitted to reducing poverty and supporting development. IBRD is governed by IDA provides significant levels of debt relief through the Heavily Indebted Poor and works with its 189 member countries to achieve equitable and sustainable Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI). economic growth in their national economies and to find solutions to pressing For a full list of World Bank member countries, see: https://www.worldbank. regional and global problems in economic development and other important org/en/about/leadership/members. areas, such as environmental sustainability. Low-interest loans are financed by World Bank bonds issued in the capital markets, guarantees, risk management IDA and IBRD operate according to procedures established by its Articles of products, and advisory services. Agreement. The agreements outline the conditions of membership and the general principles of organization, management, and operations. For IBRD IDA is governed by and works with its 173 member countries to provide zero- and IDA Articles of Agreement, see: https://www.worldbank.org/en/about/ to low-interest loans (called “credits”) and grants to the world’s 74 poorest articles-of-agreement countries for programs that boost economic growth, reduce inequalities, and 8 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES IBRD and IDA each publish an annual Information Statement containing their For IBRD’s most current Information Statement, see: https://treasury.world- most recent Management’s Discussion & Analysis and Financial Statements, an bank.org/en/about/unit/treasury/ibrd/ibrd-financials-and-ratings. institutional description, and a description of their respective capital, opera- For IDA’s most current Information Statement, see: https://treasury.world- tions, administration, Articles of Agreement, and legal status. bank.org/en/about/unit/treasury/ida. 102-6:  MARKETS SERVED The Bank works in the following regions: Africa, East Asia and Pacific, Europe For information, on the Bank’s work by region, sector, and theme, see: https:// and Central Asia, Latin America and the Caribbean, Middle East and North Africa, www.worldbank.org/en/where-we-work. and South Asia. 102-7:  SCALE OF THE ORGANIZATION Total World Bank Commitments: World Bank lending commitments for devel- the International Finance Corporation, and borrowers’ repayments of earlier opment support totaled $66.5 billion in fiscal 2021. IDA credits. In fiscal 2021, IDA also raised $9.5 billion from capital markets, com- pared to $5.7 billion in fiscal 2020. Total resources for the IDA19 Replenishment IBRD Commitments and Resources: Net lending commitments by IBRD totaled totaled $82 billion. $30.5 billion in fiscal 2021. IBRD raised $67.5 billion in fiscal 2021 ($75 billion in fiscal 2020). IBRD’s equity comprises primarily paid-in capital and reserves. Total Employees: The Bank employed 12,528 full-time staff and 5,944 tempo- rary staff as of June 30, 2021. IDA Commitments and Resources: Net lending commitments by IDA totaled For more information, see the World Bank Annual Report: www.worldbank. $36 billion in fiscal 2021, including $24 billion in credits and $12 billion in org/annualreport. grants. IDA is financed largely by contributions from partner governments. Additional financing comes from transfers from IBRD’s net income, grants from 102-8:  INFORMATION ON EMPLOYEES AND OTHER WORKERS In fiscal 2021, the Bank employed 12,528 full-time staff, of which 53 percent are About 55 percent of Bank staff are located in the U.S. and the remainder are female and 47 percent are male, and 5,944 temporary staff (short-term consul- located in over 140 locations globally. In total, 142 staff were on a Reduced Work tants) over the same period. Short-term consultants are reported on a full-time Schedule (RWS) in Fiscal 2021, of which 46 were male and 96 female. There are equivalent (FTE) basis, which is calculated using the total number of days paid no significant variations in the categories described above. divided by 220. As of June 30, 2021, temporary staff (short-term consultants) accounted for 32.3 percent of the Bank’s total (permanent and temporary) work- force of 18,472. 9 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-9:  SUPPLY CHAIN Corporate Procurement: Annually, the Bank Group purchases around $2 fragile states have unique market features. In general terms, about 70 percent billion in corporate goods and services. Its major contracts include consult- of Bank projects by value relate to infrastructure, typically transport, water, and ing services, travel, information technology and telecommunications, health energy projects. services and benefits, and construction services. All vendors are required to In fiscal 2021, the Bank procured $17.1 billion in goods and services for oper- adhere to the Bank Corporate Procurement Policy. For more information, see: ations from more than 20,000 different suppliers. Most contracts by value are https://www.worldbank.org/en/about/corporate-procurement. for water, sanitation, and waste-management projects. The Bank does not track Operational Procurement: Bank projects have a global footprint and a diverse subcontractors beyond the primary provider but estimates a factor of 8–10 sub- supply base, thus supply chain characteristics depend on the nature and loca- contractors to 1 primary supplier or, about 18,000 subcontractors. tion of the procured item(s). For instance, the supply chain characteristics in 102-10:  SIGNIFICANT CHANGES TO THE ORGANIZATION’S SIZE, STRUCTURE, OWNERSHIP, OR SUPPLY CHAIN There were no significant changes to the Bank’s organization size, structure, or Operational Supply Chain: The Bank’s operational supply chain is diverse and ownership. As of June 30, 2021, the capital adequacy of IBRD and IDA remained global and has remained stable overall. As older projects conclude and new stable. Both entities had sufficient resources to meet their liquidity require- ones begin, the major supply chains fluctuate depending on the project pro- ments and to access capital markets, despite increased market volatility since curement awarded. In the main geographic supply chains (supplier-registered the COVID-19 outbreak. locations) of fiscal 2017–21, the top three supplying countries (supply chains) were: China, India, and Turkey in most years, with Poland entering the top three Corporate Procurement: The COVID-19 pandemic continued to impact the Bank in fiscal 2020–21. France ranks among the top 10 supplying countries in every Group’s corporate supply chain in fiscal 2021. To enable a safe return to work for year except fiscal 2020–21, with Bangladesh, Brazil, Germany, and Italy ranking headquarters and country office staff and clients, Corporate Procurement facil- among the top 10 supplying countries in two out of the last five years. As the itated the sourcing of vaccines, oxygen concentrators, health care services, and Bank’s operational portfolio is focused on infrastructure, the supply chains can personal protective equipment (PPE). It also modified on-site contracts for the vary depending on the results of one large project’s awarded contract. For more provision of services to the Bank Group such as food services vendors, security information, see the new Procurement Framework. contractors, and others. 10 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES Top Supplying Countries Rank Fiscal 2017 Fiscal 2018 Fiscal 2019 Fiscal 2020 Fiscal 2021 1. China India China China China 2. India China India India Poland 3. Turkey Turkey Turkey Turkey India 4. Belarus Spain Spain The Netherlands Brazil 5. Indonesia France France Nigeria Viet Nam 6. France Italy Brazil France Turkey 7. Bangladesh Poland Italy Japan Switzerland 8. Germany Bangladesh Vietnam Egypt Tunisia  9. Pakistan Argentina Portugal Vietnam Nigeria 10. Russian Federation Brazil South Africa Germany Egypt 102-11:  PRECAUTIONARY PRINCIPLE OR APPROACH The Bank applies a precautionary approach through its Environmental and guidelines for Bank staff and Borrowers in the identification, preparation, and Social Framework (ESF), which became effective as of October 1, 2018, and its implementation of programs and projects. Further, they provide a platform for prior suite of safeguard policies, which were effective prior to October 2018. As the participation of stakeholders in project design and are an important instru- a result of these policies, there have been substantial increases in the effective- ment for building ownership among local populations. ness and development impact of Bank-supported projects and programs. Together, the ESF and the prior suite of safeguard policies are the cornerstones The objectives of these policies and standards are to prevent and mitigate harm of Bank support for sustainable poverty reduction. to people and their environment in the development process. They provide 102-12:  EXTERNAL INITIATIVES The Bank is committed to helping developing countries end extreme poverty and that represents the views of all 189 member countries; it establishes its own boost shared prosperity in a sustainable manner. The Bank is a partner of choice environmental and social standards. While the Bank supports many external for countries seeking to reach the Sustainable Development Goals, particularly initiatives, it does not have a legal obligation to comply with external  standards. in the context of financing, knowledge, and implementation. The Bank is an independent, international organization with a collective governance structure 11 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-13:  MEMBERSHIP OF ASSOCIATIONS The Bank Group is not a formal member of an industry or a business associa- These partnerships build support for the Bank Group’s twin goals of ending tion or of a national or international advocacy organization. The Bank Group extreme poverty and promoting shared prosperity. The Bank Group partners works with civil society organizations, foundations, and private-sector partners with key stakeholders on programs and specific development challenges in its on global issues and has an observer in the United Nations Development Group. 189 member countries. 102-14:  STATEMENT FROM SENIOR DECISION MAKER Please refer to the World Bank Annual Report 2021 for messages from David Malpass, President of the World Bank Group and the World Bank Board of Executive Directors. 102-15:  KEY IMPACTS, RISKS, AND OPPORTUNITIES The work of the Bank is anchored in its twin goals: to end extreme poverty by In addition, IBRD has put in place a strong risk management framework, which reducing the share of the global population living on less than $1.90 a day and to supports management in its oversight functions. The framework is designed promote shared prosperity by increasing the incomes of the poorest 40 percent to enable and support IBRD in achieving its goals in a financially sustainable of people. The Bank works to meet these goals in a sustainable manner. manner. One summary measure of IBRD’s risk profile is the ratio of equity to ­ loans, which is closely managed in line with its financial and risk outlook. As of Impacts: The Bank’s “Forward Look: A Vision for the World Bank Group in 2030” June 30, 2021, this ratio stood at 22.6 percent, and the cumulative subscribed (which was endorsed by Bank shareholders in 2016) guides its work sustain- capital of IBRD totaled $297.9 billion, including $19.2 billion in paid-in capital. ably. In 2018, the Bank negotiated and agreed upon a historic capital package for IBRD and IFC. Bank-supported project impacts and results can be found at: To download the IBRD Financial Report and IDA Financial Report, visit: https:// https://www.worldbank.org/en/results. financesapp.worldbank.org/summaryinfo/overview/. Risks: As a cooperative institution, IBRD seeks not to maximize profit but to earn Priorities: The Bank Group has a systematic, evidence-based model for provid- enough income to ensure the long-term financial capacity necessary to sustain ing financial, analytic, and advisory services to countries, focusing on strong its development activities. Of fiscal 2021’s allocable net income, the Executive country ownership and good development outcomes. The Country Partnership Directors approved the allocation of $874 million to the General Reserve and Framework (CPF) guides the Bank Group’s support to a country over a period recommended to the Board of Governors the transfer of $274 million to IDA and of four to six years, while retaining flexibility amid rapidly changing global and of $100 million to the Surplus. As part of its lending, borrowing, and investment national circumstances. The CPF is the central tool for management and the activities, IBRD is exposed to market, counterpart, country credit, and opera- Board to review and guide country programs. The Bank, IFC, and MIGA jointly tional risks. prepare and implement the CPFs by: The Bank Group’s Chief Risk Officer leads the risk oversight function and sup- • Taking into account the country’s development goals. ports the institutional decision-making process via dedicated risk committees. 12 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES • Drawing on the Systematic Country Diagnostic (SCD), prepared in close IDA19, originally set to cover fiscal 2021–23, was finalized in December 2019, consultation with national authorities, the private sector, and other with implementation beginning in fiscal 2021. stakeholders. For IDA19, development partners agreed to a financing envelope of $82 ­ billion • Considering the Bank Group’s comparative advantage, lessons learned, to provide credits, grants, and guarantees to IDA’s client countries. Of this, $73.8 and partners’ activities. billion was expected to be used on concessional terms, $5.7 billion on IBRD • Aligning with the Bank Group’s goals and the Bank’s 2018 capital increase terms for the Scale-Up Window, and $2.5 billion for the Private Sector Window commitments. (PSW). To help countries address the health, economic, and social impacts of the In fiscal 2021, the Bank Group prepared SCDs in eight countries and new CPFs in COVID-19 crisis, the Bank allocated 43 percent of IDA19 resources in fiscal 2021. nine countries. This was followed by an agreement to frontload resources from fiscal 2023 to fis- cal 2022 in order to sustain the scale of financing at $35 billion for fiscal 2021–22. During the pandemic, the Bank adjusted country programs to help countries As of June 30, 2021, $34.3 billion was committed on concessional terms, $1.8 bil- respond to the crisis and to prepare for recovery, while maintaining a strong lion on non-concessional terms including $1.4 billion for the Scale-Up Window, focus on the long-term development agenda. This work aligns with the four pil- and $595 million for the PSW. IDA administrative expenses are recovered primar- lars of the Bank Group’s COVID-19 Crisis Response Approach Paper. ily through net charges and interest paid by recipient countries. IDA uses this funding to support an ambitious policy package with five special themes and Opportunities: In fiscal 2021, IBRD drew on its triple-A rating and strong stand- several cross-cutting issues, which are adjusted for each replenishment cycle. ing in the markets to raise $68 billion in Sustainable Development Bonds to For IDA19 these themes include jobs and economic transformation, climate support the Bank’s development activities, including its work with clients to change, gender and development, fragility, conflict, and violence, and gover- respond to COVID-19 and to build resilience to future shocks. nance and institutions. Foundational cross-cutting areas include debt, human capital, technology, and disability. Highlights from the fiscal year included an innovative $100 million five-year bond, issued by IBRD in March 2021, to support sustainable development and the The G20’s Debt Service Suspension Initiative (DSSI), established in May 2020 global response to COVID-19. To address the pandemic’s impact on children, the at the urging of the Bank and the IMF, delivered more than $5 billion in debt issuance channeled $50 million to UNICEF, with IBRD facilitating the risk trans- relief to more than 40 participating countries. Originally set to end in December fer. In February 2021, IBRD issued a $600 million 10-year floating rate bond— 2020, the initiative was extended twice because of the COVID-19 crisis and is the longest maturity floating rate benchmark to date for the Secured Overnight expected to end in December 2021. In addition, the Bank has helped the G20 Financing Rate (SOFR). This supports development of the SOFR market, boost- establish the Common Framework for Debt Treatment Beyond the DSSI, which ing alternatives to the U.S. dollar London Inter-Bank Offered Rate (LIBOR) and will help countries that face unsustainable debt burdens to secure the debt relief helping ensure the efficient functioning of the global financial system. they need, on a case-by-case basis. Typically, IDA partners meet every three years to review IDA’s policies, assess its • For more information on the Bank Group Strategy: financial capacity, agree on the amount of financing for the next replenishment https://openknowledge.worldbank.org/handle/10986/16095. period, and commit to additional contributions of equity that are required to meet IDA’s objectives and development goals. The replenishment process for 13 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES • For more information on the Bank Group’s Forward Look: https://www. • For more information on progress toward corporate targets: devcommittee.org/sites/dc/files/download/Documents/2019-04/ http://scorecard.worldbank.org/. DC2019-0003-PIBRDIFC%20capital%20package%204-13.pdf. The Financing Framework for the IDA19 Replenishment is managed predomi- • For more information about IBRD and IDA funding programs: nantly in Special Drawing Rights (SDRs). U.S. dollar equivalent figures given here https://treasury.worldbank.org/en/about/unit/treasury/ida. are calculated using IDA19 reference exchange rates. 102-16:  VALUES, PRINCIPLES, STANDARDS, AND NORMS OF BEHAVIOR The Bank Group recognizes the importance of a positive organizational culture in mandatory e-learning course on the Core Values and the Code of Ethics was made attracting, retaining, and motivating staff to contribute their best in pursuit of its available to staff. There is a separate Code of Conduct for Board officials. Section mission. In fiscal 2019, the Bank adopted an updated set of core values to reflect 1(c) of the Code for Board Officials requires them to sign the code document upon the behaviors agreed upon by staff and management to be most critical in driv- assuming duty and deposit it with the Ethics Committee of the Board. Business ing the organization’s performance and fostering a healthy work environment. partners are informed of ethics expectations through a separate document. These core values—impact, integrity, respect, teamwork, and innovation—are In addition, a new Code of Conduct for Vendors was adopted in fiscal 2021, embedded in the organizational culture, operations, and core Human Resources highlighting the need for the Bank’s vendors and their supply chains to prohibit processes, from recruitment to performance and talent management. and monitor “must-have” sustainability issues including child labor, modern The World Bank Group Core Values define how staff engage with clients, part- slavery, gender-based violence, discrimination, and the use of conflict minerals. ners, and each other: Sexual Harassment: In May 2019, the Bank Group launched a three-year action • Impact - We help our clients solve their greatest development challenges. plan to prevent and address sexual harassment. As of June 30, 2021, nearly all 70 measures had been implemented. To enhance trust and accountability, the • Integrity - We do what is right. Bank Group Ethics and Business Conduct Department (EBC) has made increased • Respect - We care for our people, our clients, our partners, and our planet. transparency a key factor in its strategy. EBC regularly publishes a short sum- • Teamwork - We work together to achieve our goals. mary of all the cases it has substantiated. Staff can read a description of each case, the type of sanction given, the grade level of the respective staff mem- • Innovation - We learn and adapt to find better ways of doing things. ber, as well as whether the incident took place at headquarters or in a country office. Since January 2020, all allegations of sexual harassment have been first New Code of Ethics: Adherence to high ethical standards is specified in contracts reviewed by an Anti-Harassment Coordinator, who addresses or refers the mat- with employees, Board officials, and business partners. Staff are required to ter directly to other relevant services (for instance, forwarding cases for inves- uphold Bank Group Staff Rules as a condition of employment. Recognizing the tigation where misconduct is likely to be substantiated). In addition, each new need to go beyond mere compliance and to promote a values-based institution, Bank Group staff member is required to take a mandatory e-learning training on the Bank Group launched a new Code of Ethics in fiscal 2021, which focuses on preventing and addressing sexual harassment. In fiscal 2022, a new e-learning the behaviors consistent with the Core Values. Behaviors expected from staff are course on sexual harassment will be rolled out among all staff. described in the Code of Ethics and the Principles of Employment. The conse- quences of non-compliance are addressed in the Staff Rules. In fiscal 2021, a new 14 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES Governance: The head of EBC is the Chief Ethics Officer, who reports once a year misconduct to ensure that EBC addresses 100 percent of the queries and allega- directly to the World Bank Group President and to the Board of Directors. tions received and follows procedures in every case. The EBC internal processes are also subject to thematic reviews by the internal audit function (GIA). EBC As part of the enhanced ethics and compliance governance system, EBC meets also reports twice a year on its activities to the Human Resources Committee of quarterly with the external auditors to review whether there is any occurrence of the Board of Directors of the World Bank. reputational risk or fraud that could be material to the financial reporting of the Bank Group. In addition, the external auditors review a sample of advisory con- For more information on EBC, see: https://www.worldbank.org/en/about/ sultations, situations involving harassment or sexual harassment, and alleged unit/ethics_and_business_conduct. 102-17:  MECHANISMS FOR ADVICE AND CONCERNS ABOUT ETHICS The Bank encourages staff (both past and present) to seek ethics-related advice impose sanctions; during fiscal 2021, 11 allegations resulted in the submission and to report suspected misconduct and ethical issues through its EBC department. of such a report. Modes of seeking advice include: (i) the Ethics Helpline (800-261-7497), which is The Bank Group has a non-retaliation policy that protects against any direct or available 24 hours and administered in multiple languages by an outside vendor; indirect detrimental action threatened or taken because a person engaged in a (ii) email (ethics_helpline@worldbank.org); (iii) office hours during which employ- protected activity. Retaliation is considered misconduct and is investigated and ees can seek advice from the EBC team; and (iv) online forms to ask questions and sanctioned accordingly. This is complemented by a whistleblowing policy that to request support in situations involving harassment or sexual harassment, and/or offers similar guarantees to those who engage in protected activities as detailed for misconduct will be made available in fiscal 2022. Advisory requests are treated in Staff Rule 8.02. with confidentiality and may be made anonymously. For reports of suspected mis- conduct, all information is confidential and subject to disclosure on a strict need- In addition, the Bank Group’s Integrity Vice Presidency (INT) works to improve to-know basis. Anonymous complaints are accepted. Retaliation against staff who compliance with corruption-related policies. The unit trains staff to detect and contact EBC or assist EBC in its inquiries is explicitly prohibited. deter fraud and corruption and investigates allegations in activities conducted or financed by the institutions of the Bank Group as well as allegations of signif- There were 1,373 requests for advice in fiscal 2021. On average, EBC responded icant fraud and corruption involving staff. Details are outlined for staff in Staff to staff queries within eight business hours. The most frequently received que- Rule 8.01. In fiscal 2021, INT’s internal investigation team received 155 com- ries concerned a staff member’s outside activities and employment, future or plaints, of which approximately 80 percent were either referred to other parts of former employment, vendor procurement, or close relatives or supervisory the Bank, as they did not fall within INT’s mandate, or were closed with no fur- relationships. In fiscal 2021, EBC, through the Anti-Harassment Coordinator, ther action; 17 percent of complaints were converted to cases for further inves- was consulted in 128 situations involving harassment, sexual harassment, or tigation. Further details can be found in the Sanctions System Annual Report, inappropriate behaviors and received 141 allegations of misconduct. The most which can be accessed online at the INT website: https://www.worldbank.org/ frequent allegations of misconduct related to non-compliance with staff rules en/about/unit/integrity-vice-presidency. or misuse of resources. All allegations are reviewed; the depth of the review depends on the merits of the case. When there is sufficient evidence of miscon- Integrity-related complaints regarding Bank Group-funded operations can be duct, EBC prepares a fact-finding report to submit to the Human Resources Vice submitted directly to INT by internal or external parties, including anonymously, President, who has the authority to determine if misconduct occurred and to online at: www.worldbank.org/fraudandcorruption. 15 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-18:  GOVERNANCE STRUCTURE The Bank Group’s 189 member countries participate in the institution’s gover- the Bank Group and the IMF. The Board of Executive Directors meet at least twice nance at different levels, through the Board of Governors, the Board of Executive a week to oversee the Bank’s business, including approval of loans and guaran- Directors, and the Development Committee. tees, new policies, the administrative budget, Country Partnership Frameworks, and borrowing and financial decisions. Elected every five years, the Board of Governors is the highest governing body and contains a seat for every member of the institution. The Board of Governors The project documentation package, which is reviewed by the Board for includes 189 Governors from the Bank Group’s member countries. Among them, approval, includes a summary of the project’s environmental assessment as 25 Governors make up the Development Committee (DC), a ministerial-level well as the negotiated environmental-related loan conditionalities. Below is a forum of the Bank Group and the International Monetary Fund (IMF), to repre- summary (with links) of the roles of all committees of the Board of Directors: sent the full membership. The Development Committee meets twice a year for Audit Committee: The Audit Committee (AC) is appointed by the Boards for the intergovernmental consensus-building on development issues. The Governors primary purpose of assisting the Boards in overseeing the Bank Group’s finances, delegate specific duties to 25 Executive Directors, who work on-site at the accounting, risk management, internal controls, and institutional integrity. Bank. According to the Articles of Agreement, the five largest shareholders each appoint an Executive Director (ED), while other member countries are repre- Budget Committee (BC): BC’s primary purpose is to assist the Boards in approv- sented by 20 EDs who may represent single countries or several countries. Each ing the respective budgets of IBRD, IDA, IFC, and MIGA and in overseeing the ED is elected by a country or group of countries every two years. All EDs are mem- preparation and execution of their business plans. bers of the Steering Committee, which produces the Board’s work program. Each Committee of Development Effectiveness (CODE): CODE works mainly on ED also serves on one or more of five standing committees: Audit Committee, thematic/sector strategies and operational policies, development research Budget Committee, Committee on Development Effectiveness (CODE), Human and knowledge management, and issues of institutional effectiveness. CODE Resources Committee, and Committee on Governance and Executive Directors’ considers management’s self-evaluations, IEG reports and management’s Administrative Matters. There is also an Informal Subcommittee of CODE. The response to EIG reports, and other relevant reports, including those prepared committees help the Board discharge its oversight responsibilities through by external experts. in-depth examinations of policies and practices. Committee on Governance and Executive Directors’ Administrative Matters The Bank operates day-to-day under the leadership and direction of the (COGAM): COGAM’s primary purpose is to assist the Boards in issues related to President, management, senior staff, and the Vice Presidents in charge of the governance of the institutions of the Bank Group, the Board’s own effective- regions, sectors, and functions. This complex governance system shapes every- ness, and the administrative policy applicable to Executive Directors and their thing that the Bank does. Alternates and Senior Advisors. For more information on the Bank Group’s member countries: https://www. Human Resources Committee (HRC): HRC was established by the Boards to worldbank.org/en/about/leadership/members. strengthen the efficiency and effectiveness of the Boards in discharging their The Bank’s shareholders (that is, the 189 member countries) provide recom- oversight responsibility on and aligning the business needs of the Bank Group mendations and direction to the organization through their government’s rep- with its Human Resources strategy, policies, and practices. resentatives on the Bank governing bodies, Board of Governors, and Board of Directors. The Board of Governors meets once a year at the Annual Meetings of 16 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-20:  EXECUTIVE-LEVEL RESPONSIBILITY FOR ECONOMIC, ENVIRONMENTAL, AND SOCIAL TOPICS Launched on October 1, 2018, the Environmental and Social Framework by IBRD or IDA to express their concerns and have them reviewed and addressed. (ESF) enables the Bank and Borrowers to better manage environmental and The Accountability Mechanism aims to promote accountability at the Bank, give social risks of projects and to improve development outcomes. The Director, affected people a greater voice in activities supported by the Bank that affect Environmental and Social Standards and Chief Environmental and Social them, and foster redress by the Borrower when warranted. Standards Officer (CESSO), is responsible for implementing the ESF. The ESF is For more information on the Environmental and Social Framework (ESF): a key focus of the Environmental and Social Standards Department, which sits https://www.worldbank.org/en/projects-operations/environmental-​ in the Bank’s Operations Policy and Country Services (OPCS) Unit. The Director and-social-​framework. reports to the Vice President, OPCS. In addition, the Operations Environmental and Social Review Committee (OESRC) issues advice to task teams on complex For more information on the Accountably Mechanism: https://www. or sensitive environmental and social aspects of Bank operations. The OESRC is worldbank.org/en/programs/accountability. chaired by the CESSO. The Global Director for ESF reports to the Bank’s Vice President responsi- The Accountability Mechanism (AM) was established by the Bank’s Board of ble for economic, environmental, and social aspects of Bank operations. This Directors in 2020. The Accountability Mechanism is independent from Bank Vice President reports to the Bank’s Managing Director of Operations, who Management and reports directly to the Board. The Accountability Mechanism reports to the Bank Group President. However, the Committee of Development houses both the Inspection Panel (IPN) and the Dispute Resolution Service (DRS), Effectiveness (CODE), a standing committee of the Board of Directors, over- the latter of which was also created in 2020. The IPN is the Board’s fact-finding sees the implementation of ESF. As such, there are effective communications body that carries out investigations into whether the Bank has complied with between OPCS and the Board of Governors on economic, environmental, and its policies and procedures if authorized by the Board. The DRS is mandated social topics for Bank operations. to facilitate a dispute resolution process between affected parties and the The World Bank Accountability Mechanism Secretary, reports to the Board of project authorities, if they so wish, in lieu of a compliance investigation. The Directors. Members of the Inspection Panel and the Panel Chair, report to the Accountability Mechanism is headed by a Secretary, who oversees the process- Board and are independent of the Bank’s management. They coordinate with ing of complaints, which may be addressed through a compliance investigation but are not subject to the supervision of the Secretary. carried out by the IPN or a dispute resolution process facilitated by the DRS. The Accountability Mechanism provides an avenue for individuals and communities For more information on members of the Inspection Panel: https://www. who believe that they have been or are likely to be harmed by a project funded inspectionpanel.org/about-us/meet-panel. 102-21:  CONSULTING STAKEHOLDERS ON ECONOMIC, ENVIRONMENTAL, AND SOCIAL TOPICS Direct consultations between the Board of Directors and civil society meetings. Topics of the CSO roundtable range from the Environmental and organizations (CSO) are carried out at the Annual and Spring Meetings. Social Framework to accountability, to the most heatedly discussed topics The Dean of the Board of Executive Directors, who by practice is the lon- of the day. For more information on stakeholder consultations, please see: gest-serving, full-time Executive Director, and Bank External and Corporate https://consultations.worldbank.org/. Relations (ECR) organize a roundtable with the CSOs during the biannual 17 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES The World Bank Inspection Panel (IPN) is also an avenue for consul- 102-44 for more information. For more information on the IPN, please see: tation between stakeholders and the Board of Directors. See 102-43, https://www​.inspectionpanel.org/. 102-22:  COMPOSITION OF THE HIGHEST GOVERNANCE BODY AND ITS COMMITTEES All powers of the World Bank Group are vested in the Boards of Governors. • Make formal comprehensive arrangements to cooperate with other inter- Governors are the only group that can decide on the following: national organizations; • Admit and suspend members; • Suspend permanently the operations of the World Bank; • Increase or decrease the authorized capital stock; • Increase the number of elected Executive Directors; and • Determine the distribution of the net income of the World Bank; • Approve amendments to the Articles of Agreement. All other decisions are delegated to the Executive Directors. • Decide appeals from interpretations of the Articles of Agreement by the Executive Directors; For more information on the Boards of Governors and Executive Directors, reference GRI 102-18 above. ­ 102-23:  CHAIR OF THE HIGHEST GOVERNANCE BODY The Chair of the Board of Executive Directors serves as the President of the organization, as set out in the Bank’s Articles of Agreement, Section 5. 102-24:  NOMINATING AND SELECTING THE HIGHEST GOVERNANCE BODY The nomination of Governors of the Bank depends on the political systems of Executive Directors also depends on the decisions and political systems of the the individual member governments. The office is usually held by the country’s individual member governments. minister of finance, governor of its central bank, or a senior official of similar The Bank has no direct influence over Governor or Executive Director nomina- rank. Other criteria like diversity, independence, and expertise may factor into tions. It is a sovereign matter related to countries’ internal governance and deci- the independent, government-led, decision-making process. The nomination of sion making. 102-26:  ROLE OF HIGHEST GOVERNANCE BODY IN SETTING PURPOSE, VALUES, AND STRATEGY The Chair of the Board of Executive Directors serves as the President of the orga- Governors of the World Bank meet twice a year to discuss issues related to the nization, as set out in the Bank’s Articles of Agreement, Section 5. organization’s purpose and strategy to eliminate extreme poverty and reduce inequality in a manner that is economically, environmentally, and socially sus- tainable. See www.worldbank.org/devcom. 18 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-35:  REMUNERATION POLICIES Governors: The World Bank Articles of Agreement state that Governors (the Senior Management: To recruit and retain highly qualified staff, the World Bank highest governance body) “...shall serve as such without compensation from the Group has developed a compensation and benefits system to be internationally Bank, but the Bank shall pay them reasonable expenses incurred in attending competitive, to reward performance, and to consider the special needs of a mul- meetings.” tinational and largely expatriate staff. The Bank Group’s staff salary structure is reviewed annually by the Executive Directors and, if warranted, is adjusted Board: Executive Directors and Alternate Executive Directors are enti- based on a comparison with salaries paid by private financial and industrial tled to a remuneration, determined by the Boards of Governors. A stand- firms and by representative public-sector agencies in the U.S. market. Senior ing Joint (International Monetary Fund–World Bank Group) Committee on management salaries are disclosed in the Annual Report. Remuneration of Executive Directors and Alternate Executive Directors (JCR) is constituted annually and makes recommendations to the Boards There is no linkage between compensation for Board members and organiza- of Governors on the salary and benefits of Executive Directors and their tional performance. Alternate Executive Directors (AEDs). 102-40:  LIST OF STAKEHOLDER GROUPS As a global development agency, the Bank consults and collaborates with stake- financial institutions, ESG research firms, social entrepreneurs, beneficiaries holders worldwide. The Bank categorizes stakeholders into two main groups: of Bank-supported activities, and international, national, and local media, internal and external. among others. Internal stakeholders include shareholder governments (the Boards of The Bank Group works with appropriate representatives from governments, Governors), Executive Directors, senior management, and Bank employees. the private sector, communities, indigenous groups, and/or civil society orga- nizations to engage with stakeholders who would otherwise go unheard. Many External stakeholders include multilateral and bilateral development orga- Bank Group consultations are also public, in which interested parties are pro- nizations, parliamentarians, civil society organizations, faith-based organiza- vided avenues to submit comments, most often electronically or through public tions, academics, professionals, central banks as well as other official-sector hearings. institutions and other investors in World Bank bonds, credit rating agencies, 102-41:  COLLECTIVE BARGAINING AGREEMENTS At the Bank Group, the percentage of employees covered by collective bargaining with the Human Resources Vice Presidency, senior management, line manage- agreements is zero. However, the Bank Group Staff Association, founded in 1972, ment, and the Executive Directors to ensure the interests of staff are met. The represents and protects the rights and interests of all (that is, 100 percent) of the Staff Association is not a union and does not engage in collective bargaining. staff as part of its mandate in Staff Rule 10.01. The Staff Association negotiates 19 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES Currently, there are 12,281 staff who are members of the Staff Association, and 90 country offices have established Country Office Staff Associations. 102-42:  IDENTIFYING AND SELECTING STAKEHOLDERS The Bank works with diverse stakeholders who share the commitment to Bank Multi-Stakeholder Engagement provides guidance to staff on good prac- advance the Bank Group’s goals—to end extreme poverty and promote shared tice and mandate issues for the Bank’s work on multi-stakeholder engagement. prosperity. Continuous engagement with all stakeholders is essential and chal- Guidance on good practices ensures the effectiveness of Bank interventions lenging, given the wide spectrum of internal and external stakeholders, ranging and that stakeholder engagement is performed in a manner consistent with the from donor and client governments to civil society and media to the poorest and Bank’s mandate. most marginalized communities. Partners are another essential stakeholder group. The Bank works with partners In the context of Bank-supported activities, stakeholders are anyone who is who share the commitment to advance the Bank’s twin goals, evidenced by their impacted by the potential outcomes of these activities. The stakeholders vary, participation in the Bank’s Annual and Spring Meeting dialogues, advocacy of so what impacts a segment or segments of this group depends on the scope, critical causes, and involvement in issue-based campaigns. mobilized resources, and outcomes of these activities. The Guidance Note on 102-43, 102-44:  APPROACH TO STAKEHOLDER ENGAGEMENT AND KEY TOPICS AND CONCERNS RAISED 1. Member Governments replenishment package and the Bank Group Strategy for Fragility, Conflict, and Violence 2020–25. Executive Directors and Boards of Governors engage regularly with a wide spec- trum of stakeholders, including national stakeholders in their own country and In addition to the Annual and Spring Meetings, the Development Committee con- international civil society organizations (CSOs) on the margins of the Spring and venes to advise the Boards of Governors on issues of global concern, including Annual Meetings and during travel to client countries for Bank Group operations. the world economic outlook, poverty eradication, economic development, and aid effectiveness. For recent communiqués from the Development Committee The Boards of Governors of the Bank Group and the IMF convene Annual and see http://www.devcommittee.org/communiques. Spring Meetings to discuss issues related to poverty reduction, international economic development, and finance. The Annual Meetings provide a forum Outcomes of the Development Committee are inputs to the GRI materiality for international cooperation and enable the Bank Group and the IMF to better exercise. serve their client countries. 2. Employees The Bank Group also engages directly with donor capitals to enhance strate- gic and high-level collaboration and to facilitate consultations and knowledge Staff engagement, pride in the institution, and commitment to a shared mission exchange around joint priorities and agendas as well as relationship-build- are key to the Bank’s success. Staff are kept informed at all times and have for- ing both at the technical and senior management levels. Examples of recent mal and informal opportunities to engage with senior management through ave- key engagements with donor capitals include consultations on the IDA19 nues, such as internal events, live webcast leadership town halls, online chats, 20 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES leadership blogs, Staff Association updates and working groups, among others. between CSOs and Bank Group experts throughout the year, enhancing knowl- Similarly, Vice Presidents, Directors, and Managers contribute to fostering staff edge sharing and creating platforms for feedback. engagement through various channels, as appropriate. The Bank’s intranet is The Bank hosts the Civil Society Policy Forum (CSPF) twice a year, during the available to all staff across 140 countries and is easily accessible on employee Annual and Spring Meetings. The CSPF is the Bank’s largest platform for engag- devices. Management ensures the flow of information through communications ing CSOs. The CSPF has become an integral part of the Bank Group–IMF Meetings, campaigns, announcements, stories, webinars, learning opportunities, targeted providing an open space for CSOs to exchange views with Bank Group and IMF briefings, broad-reach newsletters, and emails. staff, their peers, government delegations, and other stakeholders. More broadly, to foster an inclusive and integrated community among staff, Given travel restrictions due to the COVID-19 pandemic, the CSPF was convened there are additional engagements such as cultural performances, staff pro- virtually in fiscal 2021. The virtual forum brought together over 2,400 CSO rep- files, and staff conversations. The Bank also promotes corporate communica- resentatives during the 2020 Annual Meetings and the 2021 Spring Meetings. tion campaigns, such as the Community Connections Campaign to raise funds Led by CSOs, discussions focused on ensuring a green, resilient, and inclusive for the headquarters community in Washington, D.C., and in client countries, recovery from COVID-19 and ways to bring local solutions to scale. Major themes as well as campaigns around staff health and wellness, safety, and security, included climate action, vaccine equity, debt relief, accountability, and trans- among others. parency, responding to human rights abuses, human capital, and the role of the Monitoring staff engagement is very important. The in-depth employee private sector in development. CSOs also put forth queries and provided rec- Engagement Survey invites staff to voice their opinions on comprehensive key ommendations in two conversations with the Bank’s Executive Directors and a issues, from leadership to career development, from inclusiveness to the work Townhall discussion with Bank Group President. The CSOs expressed contin- environment, among others. The Bank engagement index and the participation ued support for shared development goals—including IDA, climate action, and rate in the survey remain consistently high. ensuring accountability for pandemic-related financing—during conversations with the Bank Group’s senior management. In fiscal 2021, nearly all Bank Group staff worked remotely and the Bank Group emphasized and monitored for staff safety, engagement and productivity. The Beyond the CSPF, the Bank engages CSOs regularly through information Bank Group conducted regular surveys on home-based work. The most recent sharing—via a monthly call with key experts and the CSO newsletter which has survey (completed in December 2020) indicates consistently high levels of a circulation of roughly 11,000. In addition to Bank-led convenings, senior man- engagement, with significant improvements from previous surveys. Overall, agement also participates in public advocacy activities with civil society, includ- World Bank Group staff adjusted well to home-based work and feel that they ing the Interaction Annual Forum and the RESULTS International Conference. In have the support and tools to be productive. However, a significant number fiscal 2021, around 50 RESULTS partners participated in a series of virtual discus- (41.4 percent) also reported that their mental health and wellbeing were some- sions with Bank leadership and technical teams. what worse or far worse than before the pandemic. Citizen engagement and stakeholder consultations are also a key part of the 3. Civil Society country engagement process. The preparation of SCDs, CPFs, and to the extent possible Country Engagement Notes (CENs) incorporates feedback from con- The Bank engages CSOs regularly at the global, regional, and local levels. The sultations with governments, the private sector, civil society, development part- Bank shares information, solicits input on policy reforms, consults on corporate ners, and other stakeholders in the country. With the introduction of High-Level strategies, collaborates with on Bank-financed projects, and forges partner- Outcomes (HLOs) in the Bank Group’s country engagement model in July 2021 ships with CSOs to further shared goals. The Bank facilitates ongoing dialogue in an effort to strengthening outcome orientation, the emphasis on continuity 21 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES across CPF cycles has increased. For Performance and Learning Reviews (PLRs) 5. ESG Investor Community and Completion and Learning Reviews (CLRs), the focus of consultations is on The Bank engages with investors of IBRD bonds, including increasingly those how well the CPF program has been implemented, how it is expected to con- with ESG investment considerations. Many of these investors consult reports tinue contributing to HLOs set out in the CPF and how it can be adjusted to published by ESG research firms that score bond issuers based on specific ESG accelerate progress towards achieving these outcomes. indicators. The firms believe that the ratings reflect the investors’ general areas The inputs obtained are used in determining the focus and scope of the CPF of interest. In their issuer profile reports, ESG research firm teams analyze the program. In addition to allowing the Bank Group to better inform its coun- Bank’s approach on how to lend and conduct business internally as it pertains try programs, the engagement process with stakeholders also helps improve to, for example, staff satisfaction, health, and safety, board member compo- program implementation by collecting a wide range of views regarding sition, and carbon footprint based on business-as-usual activities. The ESG potential impact, thereby increasing development effectiveness. This helps research firms do not consider the positive development impact that the Bank strengthen the sustainability of Bank Group engagement programs. In the makes with its member countries in their scoring methodology. However, the consultation process, the Bank employs a variety of complementary for- ESG research firm methodologies are set up based on a broader group of issuers, mats to collect stakeholders’ views, such as face-to-face meetings and social mostly corporate, and in many instances do not apply to the Bank. media forums. The Bank Treasury also manages the bond issuance program for IDA. IDA began Environmental and Social Standard 10 (ESS10) on Stakeholder Engagement issuing bonds in 2018. When engaging with investors about IDA bonds, ESG con- and Information Disclosure recognizes the importance of open and trans- siderations are also discussed, as they are for IBRD. ESG research firms have not parent engagement between the Borrower and project stakeholders as an yet begun scoring IDA, but as IDA’s issuance program grows they will. IDA will essential element of good international practice. Under the ESF, all projects face similar issues as IBRD does with ESG research firms. are required to have a Stakeholder Engagement Plan as well as a grievance mechanism. Through the Strategic Framework for Mainstreaming Citizen Individual investors with a strong ESG focus that are attracted to IBRD and IDA Engagement in Bank Group operations, the Bank Group engages with CSOs bonds for their portfolios have asked for clarification about the project imple- and citizens to take beneficiary feedback into consideration in the design of mentation process and how the environmental and social framework and other Bank Group operations. policies reduce social and environmental risks. Their questions have focused on, for example, issues around the resettlement of communities and ESG poli- 4. Opinion Leaders cies around corporate procurement. In addition, investors may ask about labor and the supply chain during project implementation by contractors helping to The Country Opinion Survey (COS) program systematically assesses and tracks implement projects on the ground alongside local agencies. In the past, inves- the views of external opinion leaders across client countries. The Bank Group tors have asked about how well these companies that were procured for proj- has collected thousands of opinions in this mandated program since its incep- ect implementation are vetted in order to prevent any violation of human rights tion in fiscal 2012. Each client country is surveyed once every three years; each and child labor within countries where projects are being financed. Investors year, about 40 to 45 countries are included. In this manner, over a three-year have also asked about the Bank’s exclusion list, including what sectors the cycle, the program obtains feedback from stakeholders in nearly all client coun- Bank does not support in its lending operations (e.g., tobacco, nuclear reactors, tries. No other multilateral organization engages in a feedback mechanism of goods for military purposes, etc.). Additionally, investors have asked about the such breadth and depth. Priorities identified by opinion leaders through the COS Bank’s alignment to the Paris Agreement, and participation in financing fossil are used as input to the GRI materiality exercise. fuels, such as coal and oil and gas. Lastly, investors often question how the Bank 22 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES prevents corruption and how it ensures that funds go where they are intended 7. Foundations and Private Sector and that impact is achieved. The Bank Group mobilizes innovative ideas, provides new sources of funding, Additionally, IBRD and IDA use their bond issuance programs to engage the ESG and enables the institution to build an active network of expert partners. investor community on the Bank’s development mandate, explain how the use Our global portfolio of private and philanthropic partnerships takes different of bond proceeds supports the financing of sustainable development activities, forms, from individual dialogues with prospective and existing partners, to and describe how these activities contribute to the Sustainable Development group discussions on key development areas, and it entails the participation of Goals. Dedicated themes have allowed for bonds to raise awareness around top- Bank Group experts at the operational and/or management levels. In fiscal 2021, ics such as food loss and waste; gender equality/health and nutrition of women our partnerships with key private and philanthropic organizations helped pro- and children; water and oceans; and sustainable cities. All IBRD and IDA bonds vide urgent support to communities that are disproportionately affected by the are issued under the label Sustainable Development Bonds to draw atten- pandemic. For instance, we continued working closely with one of our largest tion to the mission of the Bank Group. Some IBRD bonds are issued as Green partners, the Bill & Melinda Gates Foundation, to support programs in gender, Bonds, aligning to the International Capital Markets Association Green Bond health, social protection, and financial services. This partnership has been cru- Principles, while the remainder are issued as Sustainability Bonds, aligning to cial in our work to tackle COVID-19, especially on vaccine access, equity, and the International Capital Markets Association Sustainability Bond Guidelines. distribution. All IDA bonds are issued as Sustainability Bonds aligning to the International Capital Markets Association Sustainability Bond Guidelines. We also partnered with J.P. Morgan on the School to Work: Skilling India’s Youth program, which aims to improve access to quality and market-relevant training The questions that the Bank regularly provides feedback on to ESG research and for youth in India. It will directly benefit 37 million students and 2 million teach- scoring firms are used as part of the materiality exercise for the GRI Index. ers in six states; indirectly, it will reach more than 90 million students and nearly 6. Local, national, and internal media 5 million teachers across the country. The Bank is regularly covered in the media, including events involving senior In addition, we continue our partnership with the William & Flora Hewlett management. At key opportunities, such as the Annual and Spring Meetings, the Foundation to support the Women, Business, and the Law (WBL) project Bank proactively disseminates the institution’s key messages, including its com- that collects data on the laws and regulations that affect women’s eco- mitment to ending extreme poverty and promoting shared prosperity, by engag- nomic prosperity. The foundation’s support will continue to strengthen the ing with media representatives from donor and developing countries. The Bank capacity of CSOs in Sub-Saharan Africa to understand and use information pitches story ideas to media outlets and through social media to promote our from WBL to advocate for gender equality reforms, support engagement at work on issues related to these goals or other pressing development challenges, the local level, and organize peer-to-peer knowledge events. such as the COVID-19 pandemic, debt transparency, human capital, climate Globally, our Refugee Investment and Matchmaking Platform helps create eco- change, forced displacement, and gender inequality. The Bank also constantly nomic opportunities for refugees and host communities by bringing together responds to media queries to help the media better understand the Bank’s role businesses, foundations, and development actors such as the International and responsibilities. Press releases, statements, transcripts, and feature stories Chamber of Commerce, Tent, and the UNHCR. This innovative work leverages from the Bank appear on the Bank’s homepage and on the news site. the power of the private sector as it supports business activity of companies in Topics raised by media are used as inputs to the GRI materiality exercise. refugee-affected areas, and resulted in significant increases in sales, employ- ment, and investment. 23 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES The Partnerships team also engages with partners at key private and phil- in the international development arena and overall MDB authorizing environ- anthropic forums and events such as the Global Philanthropy Forum, World ment. The Bank Group also engage in co- and parallel financing opportunities Economic Forum, and One Young World. with other MDBs to enhance joint impact. 8. Development Partners Our partnership with the EC involves close dialogue and upstream coordination on joint priorities, collaboration on implementation at global and country level, The Bank Group engages closely with multilateral development partners to joint assessments and knowledge sharing, and a strong financial relationship enhance operational impact in our client countries. These include the United anchored in a Financial Framework Partnership Agreement. The Bank Group Nations (UN) system, Multilateral Development Banks (MDBs), the European works with a broad range of EC Directorates-General, with cooperation under- Commission (EC), key multilateral fora such as the G7 and G20, the Organisation pinned by strategic coordination processes, such as “Deep Dives”, High-Level for Economic Co-operation and Development (OECD), and the Asia Pacific Dialogues, and Country/Sector Days. There is also strong engagement with Economic Cooperation (APEC). other EU institutions, including the European Parliament, the European External Our engagement with the UN is focused on safeguarding global public goods and Action Service, and the Council of Ministers. enhancing country outcomes in our client countries in line with and leveraging The Bank Group is an observer in the G7 and G20 and provides evidence-based each institution’s comparative advantage. The Bank Group participates in UN analytical inputs and reports to the discussions. It seeks to highlight how intergovernmental and interagency task forces and coordinating bodies, includ- countries, notably developing countries, may be impacted by the proposals or ing the Chief Executives Board for Coordination (CEB) and Inter-Agency Standing reforms under discussion. It backs initiatives in support of developing countries Committee (IASC), to help set the strategic direction and to ensure maximum on issues ranging from debt suspension and tax to digitalization and climate. impact of our partnership. This is complemented by bilateral meetings between The Bank Group has observer status in most OECD bodies and participates regu- the institutions’/agencies’ senior management. Our country teams are in close larly in the Development Assistance Committee (DAC). In addition to various com- contact with UN agencies at the operational level to support joint program mittees and working groups, the Bank Group participates in the International design and implementation. Network on Conflict and Fragility (INCAF) and the Network on Gender Equality The Bank Group works in close partnership with other MDBs on a variety of issues (Gendernet). The Bank Group and OECD extensively cooperate, both ad-hoc and of common interest to coordinate work based on comparative advantage and to more systematically, around joint knowledge products and at the country level. enhance impact at the country level. This exchange takes place through a work- The Bank is represented in the APEC finance stream at the Finance Ministers’ ing-level Sherpa group, several formal and informal working groups, and at the meeting, Deputy Finance Ministers’ meeting, and Senior Finance Officials’ MDB Heads level. MDB Heads oversee and guide this work and meet two times a Meeting. year to discuss strategic directions, main policy challenges, and developments 102-45:  ENTITIES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS The content and data in this document relate to the IBRD and the IDA, which reports. Some references to the Bank Group have been made in this report as together form the Bank. appropriate. The 2021 GRI Index does not cover activities of the other three agencies of the For more about the Bank and its sibling agencies, see: https://www. Bank Group: IFC, MIGA, and ICSID. These agencies publish separate annual worldbank.org/en/who-we-are. 24 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES 102-46, 102-47:  DEFINING REPORT CONTENT AND TOPIC BOUNDARIES AND LIST OF MATERIAL TOPICS See the introduction to this report. 102-48, 102-49, 102-50, 102-51, 102-52, 102-53, 102-54, 102-55, AND 102-56:  RESTATEMENTS OF INFORMATION; CHANGES IN REPORTING; REPORTING PERIOD; DATE OF MOST RECENT REPORT; REPORTING CYCLE; CONTACT POINT FOR QUESTIONS REGARDING THE REPORT; CLAIMS OF REPORTING IN ACCORDANCE WITH THE GRI STANDARDS; GRI CONTENT INDEX; AND EXTERNAL ASSURANCE The GRI Index 2021 covers fiscal 2021, from July 1, 2020, to June 30, 2021. It has previous reports. The Bank has not set a policy on gaining external assurance been prepared in accordance with the GRI Standards: Core option. The World for its GRI Index and Sustainability Review. In practice, the carbon inventory is Bank updates its GRI Index annually and provides a summary of the year’s assured every year by the IFC Annual Report auditors. activities in the World Bank Annual Report. A Sustainability Review is published The previous Sustainability Review and GRI Index were made available in biennially. Disclosures on Data Privacy and Biodiversity were included as mate- October 2020. The GRI Index 2020 is available at: http://worldbank.org/ rial topics this fiscal year. There were no restatements of information given in corporateresponsibility. 25 WORLD BANK GRI INDEX 2021 GENERAL DISCLOSURES  : :  GRI 100  GENERAL DISCLOSURES Economic Standard Series GRI 200  Economic Standard Series MATERIAL TOPICS:  ECONOMIC PERFORMANCE, ECONOMIC IMPACTS, PROCUREMENT PRACTICES, ANTI-CORRUPTION MANAGEMENT APPROACH: ECONOMIC PERFORMANCE With 189 member countries, staff from more than 170 countries, and offices in Change Action Plan (CCAP) which was implemented from 2016 to 2020. The over 140 locations, the World Bank Group (Bank Group) is the world’s largest new CCAP 2021–25 was published in June 2021 and outlines the Bank Group’s development bank. It is an important source of financial resources and techni- strategic priorities for climate change action for the next five years. cal assistance for developing countries around the globe. It is not a bank in the The Bank’s lending is aimed at two different groups of countries: the International ordinary sense, but a unique global partnership formed to support economic Bank for Reconstruction and Development (IBRD) strives to reduce poverty development. Two goals—ending extreme poverty and promoting shared pros- in middle-income and creditworthy poorer countries through loans, guaran- perity—guide the Bank’s mission and sustainability is an overarching theme. In tees, risk-management products, and analytical and advisory services. The order to achieve the two goals for the welfare of future generations, the Bank International Development Association (IDA) offers below-market-rate financ- provides financing for investments in areas such as education, health, public ing to the world’s poorest countries, primarily through credits and grants. IBRD administration, infrastructure (including low-carbon energy and transport), funds itself through high-quality bonds offered in the international capital mar- financial and private sector development, agriculture, and environmental and kets. IDA’s funding is traditionally from contributions by donor countries, includ- natural resource management. Climate action helps countries develop sus- ing OECD countries and, increasingly, middle-income nations. Starting in 2018, tainably: when countries act on climate change, they will also benefit from IDA has also been issuing bonds in capital markets. clean air and water, healthy oceans, resilient cities, and sustainable food and agriculture  systems. This response centers on IBRD and IDA activities and as such, does not cover activities of the other three agencies of the Bank Group. Some references to the Countries need sustainable economic growth and good development outcomes Bank Group have been made in this report as appropriate. more than ever, and climate change puts both at risk. Helping our clients act on climate is a high-level strategic priority for the Bank Group. The Bank Group The Bank holds itself accountable to its clients and shareholders through is committed to playing an important role in helping client countries integrate institutional mechanisms that monitor operational performance. These include climate action into their core development agendas, supporting them to build the World Bank Corporate Scorecard, the IDA Results Measurement System, low-carbon, climate-resilient, inclusive economies. For the last five years, this updates on policy commitments associated with the Bank Group Capital was undertaken under the guidance of the Bank Group’s first ever Climate Package, and regular opportunities to discuss progress on operations with the 26 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES Bank’s Executive Directors. The Bank also benefits from the expertise of the stakeholders at large. IEG is independent of the management of the Bank Group Independent Evaluation Group. and reports directly to the Executive Board. IEG evaluates impact at the project level for every project that has closed and undertakes strategic evaluations. The World Bank Corporate Scorecard is designed to provide a snapshot of the Bank’s overall performance in the context of development results. It facili- As the scope of Bank Group operations and its portfolio of products has grown, tates strategic dialogue between Bank management and its Board of Executive IEG has continued to develop and adapt its approaches to evaluating devel- Directors on progress made and areas that need attention. Through the opment effectiveness. These approaches include assessing outcomes against Scorecard, the Bank Group reports on its Scope 3 Greenhouse Gas emissions stated objectives, benchmarks, standards, and expectations, or assessing what and finance directed at climate mitigation and adaptation. Aspects of financial might have happened in the absence of the project, program, or policy (coun- sustainability are measured under the Scorecard’s Tier III, which reviews the terfactual analysis). For example, private sector investment projects are mainly overall success of Bank activities in achieving development goals and examines assessed against absolute economic and financial performance criteria and the the effectiveness of Bank operations, including the performance of its lending extent to which they contribute to private sector development. Public sector portfolio. projects are assessed in relation to their relevance and the efficacy and effi- The IDA Results Measurement System (RMS) tracks results in countries sup- ciency with which they achieve their development objectives. Across projects, ported by IDA as a key reporting and accountability tool for tracking progress IEG looks at the patterns of what works under what circumstances. Evaluations and reporting results achieved with IDA financing during each replenishment undertaken by the IEG have deepened evidence about the results of Bank Group cycle. Progress made on increasing the share of climate-related financing programs and activities and their contribution to the institution’s strategic pri- over total Bank Group commitments is reported as part of both IDA and CCAP orities and ultimately its twin goals. updates, along with GHG emissions as another results indicator. The IDA RMS and Corporate Scorecard are both publicly available. Additionally, the Inspection Panel is an independent complaints mechanism for people and communities who believe that they have been, or are likely to be, The World Bank Group Capital Package was endorsed by shareholders during adversely affected by a Bank-funded project. The Panel is an impartial fact-find- the 2018 Spring Meetings and included a historic $13 billion capital increase and ing body, independent from the Bank management and staff, reporting directly ambitious set of internal reforms and policy measures, including climate change to the Board. The Inspection Panel aims to promote accountability at the Bank, commitments. In response to the request by the Boards of Governors, the Bank give affected people a greater voice in activities supported by the Bank that Group provides an annual update to the Development Committee on progress affect their rights and interests, and foster redress when warranted. In response in implementing the Capital Package commitments. to requests for inspection from affected people, the Panel has the power to carry The Independent Evaluation Group (IEG) evaluates the development effective- out independent investigations of Bank-financed projects to determine whether ness of the Bank Group. IEG assessments provide evaluative evidence to help the Bank is in compliance with its operational policies and procedures, and to the Bank Group deliver better services and results to its clients. IEG does so by make related findings of harm. generating lessons from past experience and accountability to shareholders and 27 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES 201-1:  DIRECT ECONOMIC VALUE GENERATED AND DISTRIBUTED In fiscal 2021, IBRD’s net revenues totaled $2.4 billion ($2.4 billion and $2.3 bil- In fiscal 2021, IBRD’s administrative expenses were $1.18 billion ($1.17 billion lion for 2020 and 2019, respectively), and IDA’s net revenues were $2.0 billion and $1.15 billion for 2020 and 2019, respectively), and IDA’s administrative ($1.8 billion and $1.7 billion for 2020 and 2019, respectively). Sources of IBRD and development grant expenses for fiscal 2021 were $4.2 billion ($2.9 billion revenues include net revenue from loans, net revenue from other Asset Liability and $9.2 billion for 2020 and 2019, respectively). Significant progress has been Management derivatives and revenue from investments trading (net of borrow- made to ensure budget spending discipline and efficiency, which has resulted ing costs). The financial performance of IBRD reflects the impact from the mea- in an improvement in the budget anchor (an efficiency measure that shows sures put in place in previous years to increase its financial capacity and ensure net administrative expenses as a percentage of loan spread revenue) for IBRD its long-term financial sustainability. IDA’s revenues include revenue from loans, and IDA. net revenue from Asset Liability Management derivatives and from investments, Visit the World Bank Group Finances page to better understand the business net of borrowing costs. models of each entity. 201-2:  FINANCIAL IMPLICATIONS AND OTHER RISKS AND OPPORTUNITIES DUE TO CLIMATE CHANGE It is impossible to end extreme poverty and boost shared prosperity without expanding renewable energy access, boosting electric mobility and public tran- addressing climate change. Without urgent action, climate change impacts sit, supporting climate-smart urban development, managing forests sustain- could push an additional 100 million people into poverty by 2030. Natural disas- ably and promoting nature-based solutions, improving agricultural practices, ters already cost low- and middle-income countries about $18 billion a year and making better use of water resources. Investing in resilient infrastructure through damage to power generation and transport infrastructure alone. They in developing countries could deliver $4.2 trillion over the lifetime of new infra- also trigger much wider disruptions for households and firms, costing at least structure. Making infrastructure more resilient avoids costly repairs and mini- $390 billion a year. Climate change also acts as a multiplier, with the potential mizes the wide-ranging consequences of natural disasters for the livelihoods to make other development challenges much worse, often for the poorest and and well-being of people. It also unlocks significant economic benefits: an most vulnerable. The COVID-19 pandemic has highlighted this urgency all too investment of $1, on average, yields $4 in benefits. clearly, laying bare the importance of planning for crises before they hit, as well In order to help our clients better understand and prepare for the risks of a as the destructive potential of unmanaged risk. All countries have been fac- changing climate, as well as unleash economic opportunities from action, the ing the combined impacts of climate and COVID, as was demonstrated during Bank Group is stepping up its mitigation, adaptation, and disaster risk man- Cyclone Amphan, where authorities in Bangladesh and India had to handle com- agement work and will increasingly look at all its business through a climate peting goals of evacuation and lockdown to keep communities safe. lens. All eligible Bank projects account for their GHG emissions and integrate At the same time, bold climate action can unlock major economic opportunities these into the economic analysis using a shadow price of carbon. In addition, and jobs for the Bank Group’s client countries. A shift to low-carbon, resilient all Bank projects apply systematic climate risk screening and management, and economies could create over 65 million net new jobs globally by 2030. Low- all country strategies and diagnostics are now screened for climate and disaster carbon, climate-resilient investments that could transform countries include risks. The IFC also uses carbon pricing to help address transition risk and applies 28 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES a shadow price to the economic analysis of high-emitting projects. It also sys- met or exceeded the target set for adaptation for the past two consecutive fiscal tematically screens for climate risk in 12 of its vulnerable investment sectors, years, with the share of adaptation finance for IDA/IBRD at 52 percent in fiscal and MIGA applies a risk-screening tool to identify climate risks in projects. 2020 and 50 percent in fiscal 2021. The Bank Group also met or exceeded other key objectives of the CCAP, such as supporting countries to enhance and imple- The Bank Group is developing new metrics and analytics to help client countries ment their Nationally Determined Contributions (NDCs), promoting energy effi- understand the risks and opportunities presented by climate change. For exam- ciency and climate smart agriculture, and putting a price on carbon. ple, it has developed a new rating system which provides guidance on devel- oping climate-resilient projects and a way to assess what projects are doing to Progress against the financing target is tracked in the Bank Group’s Corporate increase climate resilience in client countries. The system evaluates resilience Scorecards, the IDA RMS, and updates on the Bank Group Capital Package. For along two dimensions: the resilience of the project design - the project’s ability to each of these, annual climate-related commitments are tracked by measuring withstand impacts from climate and disasters -- as well as how people are being the share of climate-related financing in total commitments. made more resilient through the project itself. Similarly, a new core diagnostic A new CCAP 2021-2025 was presented to the Board on June 17, 2021 and was tool, the Country Climate and Development Report (CCDR), will help countries published on June 22, 2021. The CCAP 2021-2025 aims to advance the climate align climate action and development efforts and absorb new climate-related change aspects of the Bank Group’s Green, Resilient, and Inclusive Development technologies to advance decarbonization and build climate resilience. The Bank (GRID) approach, which pursues poverty eradication and shared prosperity with has also published toolkits for policy makers that provide guidance on develop- a sustainability lens. The CCAP has a strong focus on aligning climate and devel- ing a greener financial sector by scaling up green investments, stimulating local opment, prioritizing transitions in key systems including energy, agriculture, green finance markets, and enhancing climate-related and environmental risk food, water and land, cities, transport and manufacturing, and boosting climate management. finance to support these priorities. Scaling up finance quickly is critical, but public budgets alone are not enough. For details on the Bank’s climate-related projects, see In addition to direct financing, the Bank Group is also responding to country http://www.worldbank.org/climatechange. demand by mobilizing private investment and helping open low-carbon mar- kets where they didn’t previously exist. The Bank Group is today the largest Risks and opportunities of the Bank’s activities due to climate change have pre- multilateral funder of climate investments in emerging and developing coun- viously been reported through CDP (formerly known as the Carbon Disclosure tries, accounting for more than half of the total of climate finance in these Project) disclosures. For the complete report, see www.cdp.net. countries from MDBs in fiscal 2020 - delivering $21.3 billion out of a total of For detailed information on capital adequacy and liquidity, please see: $38 billion. • IDA Management’s Discussion & Analysis and Financial Statements In 2016, the Bank Group committed to increase its climate financing to 28 per- (June 30, 2021); and cent of its portfolio by 2020, in response to client demand. This commitment is part of the Bank Group’s previous CCAP that laid out ambitious targets to be • IBRD Management’s Discussion & Analysis and Financial Statements met by 2020 in such areas as clean energy, climate-smart agriculture, disaster (June 30, 2021). risk management, and sustainable urbanization. Since 2018, the Bank Group exceeded the climate finance target for three consecutive fiscal years. It has also 29 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES 201-3:  DEFINED BENEFIT PLAN OBLIGATIONS AND OTHER RETIREMENT PLANS The Bank offers its staff defined benefit plans. Participation in the pension plan generally accepted in the United States (U.S. GAAP). The funding policy in place is mandatory. The Staff Retirement Plan (pension) and Retired Staff Benefits aims at fully funding the liabilities in the long run through a systematic actuar- Plan (medical) assets are held in separate irrevocable trusts, and the Post ially-based methodology. The employer contribution is adjusted every year in Employment Benefit Plan assets (other benefits) are included in IBRD’s invest- light of the most recent funding situation. ment portfolio. The assets of the plans are used for the exclusive benefit of the The Bank’s contribution to the pension plan is based on a specified funding participants and their beneficiaries, and represent the accumulated contribu- methodology and varies from year to year in response to changes in the plan’s tions paid into the plans net of benefit payments, together with the accumu- funding position. Employees participating in the gross plan (closed plan) con- lated value of investment earnings, net of related expenses. tribute 7 percent of the pensionable gross salary. Employees in the net plan As of June 30, 2021, the value of accrued pension liabilities for IBRD/IDA was (open to new entrants) contribute 5 percent of their net salary to the mandatory $24.7 billion, supported by assets of $24.4 billion held in a trust. The funded ratio cash balance component. Participants in the net plan may choose to contribute (assets over liabilities) was 98.8 percent. up to an additional 6 percent of their net salary to the cash balance. Assets are evaluated at their fair value, and liabilities are measured as the Participation in the pension plan is mandatory to staff members of the Projected Benefit Obligation, discounted with high-quality corporate bond rates. Bank Group. The two amounts are estimated in full compliance with accounting principles 201-4:  FINANCIAL ASSISTANCE RECEIVED FROM GOVERNMENTS Member contributions: IBRD has a diversified shareholder base that supports Trust funds: Generally accounted for separately from the Bank’s own resources, IBRD’s financial strength through both paid-in and callable capital. Callable cap- trust funds are financial and administrative arrangements with external donors ital may be called only when required to meet obligations of IBRD. In fiscal 2021, that lead to grant funding to developing countries of high-priority development IBRD received $1.2 billion of paid-in capital under the General and Selective needs, such as investments, technical assistance, advisory services, debt relief, Capital Increases (GCI and SCI), bringing the cumulative amounts received post-conflict transition, and co-financing. to $2.8 billion, 37 percent of the total amount expected over the subscription Taxes: As an organization established by international treaty, the Bank receives period. For capital contributed by member countries, see IBRD’s June 30, 2021 tax-exempt status from its member countries. Financial Statements. MANAGEMENT APPROACH: ECONOMIC IMPACTS The Bank is an important source of financial resources and technical assis- formed by its member country governments to support economic development tance for developing countries around the world. It is a unique partnership and work toward ending extreme poverty and promoting shared prosperity. 30 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES Stakeholders--including member countries, investors, civil society, and the pri- The ESF was adopted in August 2016. It will incrementally replace the Safeguard vate sector--recognize development as a key impact of the Bank’s work. The Policies; the two are expected to operate in parallel for several years. The ESF Bank supports a wide array of critical investments in areas such as health, edu- offers broader and more systematic coverage of environmental and social risks, cation, public administration and institutional development, infrastructure, including important advances on transparency, nondiscrimination, social inclu- financial and private sector development, agriculture, and environmental and sion, public participation, and accountability. The development of the ESF is natural resource management. These investments aim to help countries grow managed by the Bank’s Operations Policy and Country Services (OPCS) unit, their economies inclusively and sustainably, to build the human capital needed which oversees the Bank’s operational policies and assists operations staff in to help people seize economic opportunity, and to ensure that countries remain their engagement with client countries. The Bank holds itself accountable to its resilient in the face of global shocks or threats that could undermine progress clients and shareholders through institutional mechanisms that monitor oper- in ending extreme poverty. This topic applies to the Bank’s operational impact. ational performance. These include the World Bank Corporate Scorecard, the There is no specific limitation regarding the boundary of the topic(s). IDA RMS, and regular opportunities to discuss progress on operations with the Bank’s Executive Directors. The Bank also benefits from the expertise of key When the Bank provides governments with financing to invest in projects, it aims units within and independent of the institution. IEG aims to strengthen the Bank to ensure that people and the environment are protected from potential adverse Group’s development effectiveness through evaluations that assess results and impacts. It does so through policies that identify, avoid, and minimize harm to performance and that provide recommendations for improvements. It also val- people and the environment. These policies require the borrowing governments idates the Bank Group’s self-evaluations of the results of country programs and to address certain environmental and social risks in order to receive Bank sup- projects. The evaluations and validations provide evidence on factors influenc- port for investment projects. This includes, among other things, community con- ing success and failure as well as lessons to help inform the Bank Group’s direc- sultations and public disclosure of key documents. The Bank currently applies tions, policies, programs, and operations. two sets of environmental and social policies: the Safeguard Policies, for proj- ects with concept notes before October 1, 2018; and the Environmental and For more information and IEG’s annual report, visit ieg.worldbankgroup.org. Social Framework (ESF), for projects with concept notes after October 1, 2018. 203-1:  INFRASTRUCTURE INVESTMENTS AND SERVICES SUPPORTED Infrastructure development in sectors such as energy, transport, and digital Bank investment project financing is based on the long-term (five-to ten- technology is critical to accelerating inclusive economic growth, creating jobs, year) horizon and supports a wide range of activities, including capital-inten- helping build human capital, and reducing poverty. It is also an essential part sive investments, service delivery, credit and grant delivery, and institution of post-pandemic recovery and building back better. The Bank supports ­ building. Through its high-quality rating in the capital markets, the Bank is able governments through analysis and advice, financial instruments, and conven- to raise funds at favorable market terms and pass the savings on to its borrow- ing power, and by providing a solid evidence base to help them make informed ing members. Building modern, sustainable, inclusive, and reliable infrastruc- decisions for improving the accessibility and quality of infrastructure services. ture is critical for meeting the rising aspirations of billions of people around This includes, where appropriate, using public-private partnerships and other the globe. A significant increase in infrastructure investments in developing ways to leverage private sector financing and expertise. countries is needed to achieve poverty reduction and shared prosperity, reach the Sustainable Development Goals, and tackle climate change in the spirit of the recently released CCAP. It is also integral to the Bank’s green, resilient, 31 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES and inclusive development approach. To meet these goals, infrastructure proj- development impact. ICRs and IEG evaluations are publicly available and can be ects must follow rigorous environmental and social standards, and be fiscally accessed online. sustainable. • For more information on infrastructure projects financed by the Bank in When a project is completed and closed, the Bank and the borrower document fiscal 2021, see the World Bank Annual Report 2021. the results achieved; any implementation issues encountered; the lessons • For information on World bank public–private partnerships. learned; and the knowledge gained from carrying out the project. The Bank compiles this information and data in an Implementation Completion and • For information on World Bank energy projects. Results Report (ICR), using input from the borrower’s implementing agency, • For information on World Bank extractive industries projects. co-financiers, and other partners/stakeholders. The report describes and eval- uates final project outcomes. These outcomes are compared against expected • For information on World Bank transport projects. results. IEG also conducts evaluations of selected projects to measure out- • For information on World Bank digital technology projects. comes against the original objectives, sustainability of results, and institutional • For more information on World Bank products and services. DISCLOSURE 203-2:  SIGNIFICANT INDIRECT ECONOMIC IMPACTS The Sustainable Development Goals (SDGs), adopted by the UN General through its thought leadership, global convening power, and work with coun- Assembly in 2015, are 17 interlinked global goals in areas such as health, gen- tries. It is working with client countries to deliver on the 2030 agenda through der, jobs, and poverty reduction that are designed to be a “blueprint to achieve three critical areas—financing, knowledge, and implementation—and by sup- a better and more sustainable future for all.” The SDGs were formulated with porting country-led and country-owned policies to achieve the SDGs. Global strong participation from the Bank and are fully consistent with the Bank’s own efforts around the SDGs will guide the Bank’s partnership efforts, especially with twin goals to alleviate poverty and promote shared prosperity in a sustainable UN system institutions, through 2030. manner. The Bank helps catalyze the SDGs and the rest of the 2030 agenda MANAGEMENT APPROACH: PROCUREMENT Procurement practices are material to both the Bank’s corporate and oper- and contract execution for Bank offices around the globe, including adher- ational boundaries. The supply chain was identified as a key impact area by ence to the Bank’s policies on socially and environmentally responsible cor- stakeholders, including sustainable and impact investors, and represents an porate procurement policies. For lower-value procurement in country offices, important means of supporting strategic priorities of the Bank Group through responsibility for purchases sits with the country office management, with our purchasing power. oversight provided by the Corporate Procurement unit. Around 60 percent of purchases of goods and services occurs at headquarters in Washington, D.C., Corporate Procurement: The Bank Group’s Corporate Procurement unit is with the other 40 percent divided among the Bank Group’s country offices. responsible for coordinating and overseeing the sourcing strategy, selection, Many of the impacts from the procurement of goods and services are not 32 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES directly caused by the Bank Group but occur as a result of its business rela- • Infrastructure and major plant and equipment, such as, railways, power tionship with suppliers. stations, water treatment plants, generators, wind turbines, pumps, and rail stock; The Bank Group’s supply chain impacts are potentially the largest of its sustain- ability effects, with annual purchasing of the Bank Group averaging between • Critical supplies, such as, vaccines, emergency medical supplies, equip- $1.6 and $2 billion. Initial analysis of supply chain emissions from purchased ment, pharmaceuticals (such as, COVID-19 response projects), shelters, goods and services shows that scope 3 greenhouse gas emissions account for and food; 10 times our direct (scope 1 and 2) greenhouse gas emissions. In addition, mon- • Information technology, such as, computers, and mobile phone networks; itoring ESG issues throughout our supply chain poses a daunting task with over 30,000 first-tier vendors. • Critical supplies, such as, emergency medical supplies, shelters, and food; In order to mitigate potential impacts, the Bank Group identifies major impacts • Consultancy services, such as, engineering design and supervision, tax in each purchasing category, and uses mandatory specifications, evaluation collection advice, and research and development; and criteria, and contract management to reduce the indirect impact of goods • Other services, such as, aerial surveying, cartography, and site and services delivered to the Bank Group. Major corporate material purchases investigations. (including office construction and renovations, paper, computers, and furniture) are made with environmental life-cycle assessments in mind and incorporate Finance is provided to Borrowers (Bank clients), through Investment Project mandatory sustainability specifications as well as evaluation criteria to reward Financing (IPF) where operational procurement activities take place. sustainability best practice. Operational Procurement opportunities are overseen by the Bank, mainly A sustainability framework for corporate procurement has been approved through the Bank’s regional teams, or its global practice units. As projects by the Bank Group Procurement Committee and endorsed by the Corporate arise, they are allocated to a Team Leader (TL), usually based in the country Responsibility Oversight Committee. It is being implemented to manage the who is responsible for overseeing project implementation. In fulfilling this sustainability impacts of Bank Group purchases and better connect these function, the Bank takes a risk-based approach. In Operational Procurement purchases to the Bank Group’s strategic priorities. The framework man- the Borrower is the buyer, not the Bank. The Borrower is required to fol- dates the identification and mitigation of major sustainability impacts for low certain Operational Procurement rules, either the Bank’s previous high-priority categories such as IT equipment, building-related services, Procurement Guidelines (for goods, works and non-consulting services) and and others. High-value procurement with contract values over $1 million Consultant Guidelines (for the selection and employment of consultants); or must address the sustainability impacts and mitigation efforts of the pur- the Procurement Regulations for IPF Borrowers (introduced on July 1, 2016). chase in presentations to governance committees comprised of senior man- Through investment project financing, procurement amounting to $15 to $24 agement, which review all high-value procurement contracts to ensure that billion is carried out annually in over 130 borrowing countries. This creates a socially and environmentally responsible criteria are present from the proj- material contribution to global development outcomes. ect’s outset. For details, see https://www.worldbank.org/en/projects-operations/­products- Operational Procurement: Operational Procurement relates to purchases and​-services/procurement-projects-programs. made under the international development projects financed by the Bank. The When the Bank provides governments with financing to invest in projects, such main types of operational procurement financed by the Bank are: as building a road, connecting people to electricity, or treating wastewater, it aims to ensure that the people and the environment are protected from potential 33 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES adverse impacts. The Bank does this through policies that identify, avoid, and Bank-financed contracts anywhere in the world for two years. After this period, minimize harm to people and the environment. These policies require the bor- the contractors will have to demonstrate their capacity to meet the Bank’s rowing governments to address certain environmental and social risks in order requirements for preventing GBV before receiving a new Bank-financed con- to receive Bank support for investment projects. Operational procurement is tract. Details on this new enhancement are in the attached release and website. carried out in accordance with the Bank’s Procurement Framework and other The Bank also provides seminars and webinars on Environmental, Health, and operations policies, including the Bank’s Environmental and Social Policies. Safety as well as Social matters. The Bank’s new ESF includes information on Operational procurement grievance mechanisms are explained in the Bank’s assessment and management of environmental and social risks and impacts Procurement-Related Complaints guide. Integrity is governed by the Bank’s labor and working conditions, resource efficiency, pollution prevention and sanctions framework and anti-corruption guidelines. Specific actions include management, and more. enhancements to the Bank’s Operations Procurement standard bidding docu- Web link: WB GBV Press Release Nov-24-2020 ments to include additional criteria on Environmental, Health and Safety and Social matters, including, among others, enhancements to the prevention of Web link: WB GBV Website gender-based violence (GBV). Addressing GBV, Sexual Exploitation and Abuse Operational procurement practices are audited by the Bank’s Internal Audit (SEA), and Sexual Harassment more generally in the context of its development Department and by the Bank’s external auditors. IEG also periodically reviews work is a priority for the Bank. In fiscal 2021 (November 24, 2020), the Bank performance on operational procurement. For additional information, see The became the first multilateral development bank to disqualify contractors for World Bank Group and Public Procurement — An Independent Evaluation. failing to comply with GBV-related obligations. These contractors will not receive 204-1:  PROPORTION OF SPENDING ON LOCAL SUPPLIERS Corporate Procurement: The Bank currently defines in-country vendors as 2021, with the intention of reporting these purchases in the next reporting “local” vendors. If the office address for the vendor in the Bank’s system is in the period. country where the service occurs, then it is considered local and the assump- Operational Procurement: For Bank operational procurement, “local” is tion is made that it is employing and conducting business locally. For the defined as a procurement supplied to a borrower by a supplier registered in the Bank’s corporate procurement, primary locations of operation include major country of the borrower., Significant locations are defined as any country that Bank offices located in Washington, D.C., as well as field offices with more than borrows Investment Project Financing (IPF) from the Bank. Any country which 100 employees. is using the Bank’s IPF instrument is likely to have operational procurement The Bank Group is refining its approach to local vendor screening, leverag- funded by such IPF proceeds. ing the newly established category management and electronic tendering Out of total operational procurement, 61.85 percent was provided by suppliers system. Commodity segmentation has been completed, and the identifica- registered in borrower countries in fiscal 2021, totaling $10,597 million (10.6 bil- tion and inclusion of local criteria in the screening and evaluation process is lion) out of $17,135 million (17.14 billion). underway. A new eProcurement system capable of tracking purchases from local suppliers has encountered delays and will be launched by the end of 34 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES MANAGEMENT APPROACH: ANTI-CORRUPTION The Bank Group considers corruption a major challenge to meeting its devel- i. Providing leadership in creating international transparency standards opment goals. Corruption continues to have a disproportionate impact on the (Global Initiative on Financial Transparency , Open Contracting Standards, poor and most vulnerable, increasing the cost of, and reducing access to, health, Asset Disclosure Standards) and support for the implementation of open education, justice, electricity and other basic services, thereby exacerbating government (through support for the Open Government Partnership ); inequality. It reduces private investment as it increases risks for investors, with consequent effects on growth and jobs. It distorts public spending decisions and ii. Actively assisting in the implementation of transparency and accountability weakens the quality of public investments as substandard infrastructure gets efforts such as Extractive Industries Transparency Initiative (EITI), Publish built and the regulatory systems for quality control and safety are bypassed. It What You Pay , Fisheries Transparency , Anti-Money Laundering rules; erodes public trust in governments, undermining their legitimacy and posing a threat to peace and stability. iii. Strategically supporting and engaging in international alliances and regional Corruption is a global problem that requires global solutions. The Bank Group anticorruption forums, such as the International Corruption Hunters Alliance has been working to mitigate the pernicious effects of corruption in its client and Latin America and Caribbean Regional Parliamentary Network; countries for more than 20 years. The Bank Group has included Governance iv. Engaging in international forums on anticorruption including the G20 Anti- and Institutions as a theme in both its IDA18 and IDA19 cycles (covering the years 2017–20 and 2020–22, respectively) to underscore the importance of the Corruption Working Group, the Financial Accountability Task Force, and the issues in achieving development results on the ground. Operations across sec- OECD Anti-Corruption Task Team; tors systematically incorporate governance and anticorruption measures into v. Assisting countries with the coordination and mutual legal assistance project design. The objective is to better mitigate corruption and fiduciary risks and ensure that development funds are used for their intended purposes. required to identify and return stolen assets, through its Star initiative in Stakeholders, which include IBRD and IDA shareholders (the Boards), as well as partnership with United Nations Office on Drugs and Crime (UNODC ); and sustainability and impact investors, recognize anti-corruption as highly relevant vi. Helping countries identify possible sources of illicit flows and how to address to the Bank’s business impact. them through National Risk Assessments, completed or ongoing in over The Bank has recently launched a set of Anticorruption Initiatives to reaffirm 100 countries. its commitment to helping countries address corruption, addressing changes in globalization, technology, social science, and other factors. The Anticorruption This topic is material within the Bank’s operational boundary. Initiatives broaden the Bank’s focus beyond developing countries to also include The Guidelines on Preventing and Combating Fraud and Corruption in financial centers, take on the politics of corruption more openly than before, Projects Financed by IBRD Loans and IDA Credits and Grants (revised as of harness new technologies to understand, address, and prevent corruption, and July 1, 2016) are designed to prevent and combat fraud and corruption that may integrate the insights of behavioral social science. occur in connection with the use of the proceeds of financing from IBRD or IDA The Bank Group participates in a number of other collective action initiatives at during the preparation and implementation of projects. The guidelines set out the regional and global levels, including: the general principles, requirements, and sanctions applicable to persons and entities that receive, are responsible for the deposit or transfer of, or take or influence decisions regarding the use of such proceeds. 35 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES The Integrity Vice Presidency (INT) is an independent unit within the Bank situation and discuss alternatives. EBC also actively helps staff identify whether Group that investigates and pursues sanctions related to allegations of fraud their situations involve conflicts of interest that need to be addressed. Through and corruption in Bank Group-financed projects. INT supports the main busi- the Declaration of Interests program that EBC manages, approximately, 5,000 ness units of the Bank Group and external stakeholders, mitigating fraud and staff members undergo an annual review of their personal, financial, and busi- corruption risks by sharing investigative findings, advice, prevention, and out- ness interests so that the Bank Group can be protected from apparent and real reach efforts. Integrity-related complaints regarding Bank Group-funded opera- conflicts. During fiscal 2020, the program expanded to include most professional tions can be submitted directly to INT by internal or external parties, including staff at IFC, more than doubling the number of participants in the program. In anonymously, online at www.worldbank.org/fraudandcorruption. fiscal 2021, the program expanded further to include most professional staff in the Bank Treasury. Summaries of the Declarations of Interest of Senior Leaders The Governance Global Practice helps client countries build capable, efficient, of the Bank Group are published on the internet at: www.worldbank.org/en/ open, inclusive, and accountable institutions. Such institutions are better able to about/public-financial-disclosure-for-world-bank-group-leadership. deliver services and provide public goods fairly and efficiently, with lower levels of corruption. Tailoring efforts to country contexts, Governance and other global The Bank Group’s anti-fraud and anti-corruption efforts fall under the purview practices work to strengthen accountability institutions, harness digital technol- of the Board of Executive Directors’ Audit Committee, which oversees the oper- ogy, and maximize transparency to help countries control corruption. More infor- ation of the Bank Group sanctions regime and makes key decisions as to its mation can be found at https://www.worldbank.org/en/topic/governance. policies and function. The sanctions system is also supported by a high-level Sanctions Advisory Committee (SAC), chaired by a Managing Director and the The Ethics and Business Conduct Department (EBC) helps staff assess Bank Group Chief Administrative Officer. As a Bank Group-wide specialized gov- whether their personal and professional activities follow Bank Group rules and ernance body, the SAC provides important oversight over time to identify and ensures that staff disclose and address any personal conflict of interest that address any policy gaps and to facilitate dialogue among key stakeholders. they may have. Under EBC’s Staff Rule. 3.00, EBC also diagnoses and manages The SAC actively engages with stakeholders, including through multiple work- allegations of misconduct (e.g. discrimination, harassment/sexual harassment, ing groups and the coordination of dynamic bilateral and group consultations retaliation, abuse of authority, misuse of resources, failure to meet personal among Bank Group sanctions units. legal obligations, and other violations of Bank Group rules and policies). When staff request advice from EBC on conflicts of interest, they jointly analyze the 205-1:  OPERATIONS ASSESSED FOR RISKS RELATED TO CORRUPTION INT assesses and investigates allegations of corruption involving Bank Group For staff who work on projects, keeping attuned to risks arising from investi- financing. In fiscal 2021, INT opened 40 external investigations into possible gations and forensic audits is critical to ensuring that high-risk operations, in fraud, corruption, collusion, coercion, and obstruction in 42 Bank Group- particular, are able to deliver results. During project preparation, Bank experts financed projects in 28 countries. INT completed 21 Final Investigation perform due diligence screening to identify integrity risks, including for Volcker Reports, nine of which substantiated the sanctionable practice of corruption. Triggers, which means that a proposed operation is in the same country and The 21 reports summarized the investigation of 31 IBRD/IDA projects totaling sector as an ongoing or recently completed INT investigation. In fiscal 2021, INT $6.4  billion in IBRD/IDA commitments and included review of 45 contracts identified 67 Volcker Triggers and alerted the relevant project teams and senior totaling $692 million. management so that the risks could be addressed through strengthened project design or supervision. 36 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES 205-2:  COMMUNICATION AND TRAINING ABOUT ANTI-CORRUPTION POLICIES AND PROCEDURES For all new Executive Directors and their staff, INT provides an overview of its staff in offices based in Africa, Latin America, Europe and Central Asia, and South mandate, structure, and case portfolio, and highlights relevant issues during Asia, engaging 650 staff and business partners. In addition, INT jointly held oper- the Board Induction program. The Board’s Audit Committee, made up of eight ationally focused clinics with the Bank’s Operations units to provide training on Executive Directors, is briefed in more detail twice a year on these activities. In anti-corruption risks and considerations for project development. These clinics fiscal 2021, 58 Executive Directors, Advisors, and Senior Advisors attended INT’s reached 175 of the Bank’s operations staff in fiscal 2021. Integrity Clinic. This event raises awareness about how corruption can impact The Bank Group has harmonized investigative procedures and definitions of Bank Group-financed projects, so that Board members are better able to assess sanctionable practices (including corruption) with the African Development projects before approving them. Bank, the Asian Development Bank, the European Bank for Reconstruction and All Bank Group employees and consultants, during their official onboarding pro- Development, and the Inter-American Development Bank. Firms and individuals cess, receive an overview of relevant staff rules and how to report suspected that are sanctioned and debarred by the Bank Group must meet specific con- corruption issues within the institution. In fiscal 2021, INT directly engaged 860 ditions (such as, establishing and implementing an effective corporate compli- new staff and consultants on the Bank Group’s anti-corruption policies and pro- ance program or improving an existing program) before they become eligible cedures, as well as the preventive support that INT provides to the institution. again to bid on Bank Group-funded projects. These conditions are based on the INT has also developed and continues to promote an online course on dealing Integrity Compliance Guidelines. with fraud and corruption and staff’s role in mitigating integrity risks, which is At the end of fiscal 2021, 396 entities had been sanctioned with such conditions. recommended for all staff. In fiscal 2021, an additional 118 staff successfully In fiscal 2021, the Integrity Compliance Office notified 57 newly debarred completed INT’s eLearning course. entities of their conditions for release, 30 entities met their conditions for Throughout the year, INT also engages staff and internal business partners in release, and two entities met the conditions for the conversion of their debar- Bank Group offices around the world, to provide trainings and educational work- ments with conditional release to conditional non-debarments. In addition, shops aimed at building staff capacity for identifying and mitigating integrity 29 Continuation Notices were sent in fiscal 2021 to sanctioned entities whose risks within Bank Group-financed operations, with a particular focus on procure- period of sanction was extended as they have not yet met the criteria for being ment. Due to pandemic-related restrictions, these trainings were held virtually removed from sanction. over the past fiscal year, by necessity. In fiscal 2021, INT led such training for 205-3:  TOTAL NUMBER AND NATURE OF CONFIRMED INCIDENTS OF CORRUPTION Out of 21 substantiated cases in fiscal 2021, nine involved corruption by firms or were dismissed or disciplined for corruption in fiscal 2021. No corporate vendors individuals working on Bank Group-funded projects. Two Bank Group employees were debarred for violations related to corruption in fiscal 2021. 37 WORLD BANK GRI INDEX 2021 ECONOMIC DISCLOSURES  : :  GRI 200  ECONOMIC STANDARD SERIES Environmental Disclosures GRI 300  Environmental Standards Series MATERIAL TOPICS: MATERIALS, ENERGY, WATER, BIODIVERSITY, CARBON EMISSIONS, WASTE Stakeholders of the World Bank, including sustainable and impact investors, • Be climate resilient; recognize that the energy, water, and materials, used and the waste and • Be energy smart; greenhouse gas (GHG) emissions generated in the internal operations and the associated supply chain practices of the Bank are highly relevant to its • Be water efficient; business impact. Reducing the Bank’s environmental impact by minimizing its • Ensuring resource efficient; consumption, maximizing the use of recycled or renewable alternatives, and increasing waste diversion from landfill helps ensure that resources are available • Reduce waste; for future generations. • Promote sustainable land management; This topic applies to the Bank’s corporate impact boundary. This response cov- • Eliminate corruption; ers the activities of the World Bank (Bank), constituting the International Board • Enhance diversity & inclusion; of Reconstruction and Development (IBRD) and the International Development Association (IDA). This response does not cover the activities of the other institu- • Ensure staff wellbeing; and tions of the World Bank Group (Bank Group). References to the Bank Group have • Engage & preserve the community been made in this report as appropriate. The Bank’s Corporate Responsibility Program implements the principles, and Country office data lag headquarters data by one year. Thus, the water, energy, the Corporate Responsibility Oversight Committee oversees the Program. and GHG emissions data here reported (in the GRI 2021) reflect 2020 data. The Committee provides high-level, strategic leadership and guidance to and The Bank adopted 10 Corporate Sustainability Principles in 2017. The Principles ensures sufficient financial and human resources for the Program’s agenda. It are based on the United Nations (UN) Sustainable Development Goals (SDGs) also monitors and assesses the Program’s activities for progress against the and the Bank’s Environmental and Social Framework (ESF). They are the bed- goals set. rock for systematically embedding environmental and social impacts in the Bank Group’s internal operations: 38 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES MANAGEMENT APPROACH: MATERIALS Key materials utilized in the Bank’s corporate operations include paper and the percent of recycled content, environmental certifications including Energy furniture, office supplies, information technology, and consumables related to Star ratings and Forest Stewardship Council (FSC) certification, and other sus- its food service. The Bank identifies products and services with large environ- tainability criteria. The Bank recently instituted a preferred-vendor policy to mental impacts or large procurement; it then works to identify environmen- consider purchasing from competitive, women-owned businesses before con- tally and socially preferable alternatives. Quarterly reports from key suppliers sidering other vendors. Responsibility for managing this impact falls under the reflect the percentage of products that meet key environmental criteria, such as Sustainability Manager in Corporate Procurement. 301-1:  TOTAL WEIGHT OR VOLUME OF MATERIALS THAT ARE USED TO PRODUCE AND PACKAGE THE ORGANIZATION’S PRIMARY PRODUCTS AND SERVICES In fiscal 2021, for products purchased out of the headquarters where about 55 per- amount of renewable material used was 39 tons of paper. In fiscal 2021, no consum- cent of Bank staff are based, the total amount of non-renewable materials used ables related to food services were purchased, as all food services were closed due was 20 metric tons of electronic equipment. The total weight of office products to the COVID-19 pandemic. purchased was not available at time of publication. In the same period, the total Materials Used (Metric Tons) Fiscal 2021 Fiscal 2020 Fiscal 2019 Total non-renewable materials 20 100 185 Electronic equipment 20 37 9 Office products * 63 172 Bottled water (plastic) 0 0 4 Total renewable materials 39 277 455 Paper 39 204 358 Bottled water (glass) 0 23 35 Consumables related to food services 0 50 62 *Data not available at time of publication 301-2:  PERCENTAGE OF RECYCLED INPUT MATERIALS The Bank is committed to using resources that are made from recycled or office furniture, cafeteria napkins, and electronics. As the Bank food ser- rapidly renewable materials for its internal operations. The largest material vices were closed at headquarters all of fiscal 2021, there were no napkins purchases at headquarters in a typical year include paper, office supplies, purchased. 39 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES • Paper: Bank standard copier and printer paper is 100 percent post-con- contain at least 10 percent post-consumer recycled content. In fiscal 2021, sumer waste (PCW) recycled content and FSC-certified. The Bank tracks this data was not available at time of publication. the percentage of all paper used at the institution that is made of recycled • Furniture: Most furniture in use at the headquarters has been refurbished content. In fiscal 2021, 34 percent of paper used was made from 100 per- or reupholstered. cent PCW content, 66 percent consisted of 10–85 percent PCW. The ratio of 100 percent PCW content paper is lower than prior years, as less copier • Food-Service Consumables: The Bank's food services were closed in paper was used since most headquarters-based staff were working from fiscal 2021, and no food-service consumables were purchased. home during fiscal 2021. • Electronic Equipment: The Bank uses sustainability criteria for its infor- • Office Products: The Bank also tracks the percentage by weight of all mation technology purchases to ensure the components of computers, items purchased from its office supply vendor for headquarters that laptops, and monitors are made of recycled input materials. The percent- age of recycled components in technology purchases is not tracked. MANAGEMENT APPROACH: ENERGY Combustion of fossil fuels is a leading driver of human-driven climate change. of bringing all owned facilities to LEED minimum requirements or an equiv- The Bank manages its energy use carefully by tracking use in each owned alent standard, as appropriate, falls with the Senior Manager for Corporate facility. Quarterly tracking of the Bank’s energy use is evaluated by the Direc- Real Estate in Global Corporate Solutions. This topic applies to the Bank’s tor of Global Corporate Solutions. Energy use is evaluated as an absolute corporate impact boundary. Global energy use data lag by one year. For the figure and on an intensity basis to determine progress. Responsibility for Inventory Management Plan and additional information, see: http://world- increasing the energy efficiency of the headquarters campus, with the vision bank.org/corporateresponsibility. 302-1:  ENERGY CONSUMPTION WITHIN THE ORGANIZATION Fuel combustion onsite includes natural gas, propane, gasoline, and diesel fuel diesel generators in some country offices in Fragile, Conflict and Violence (FCV) as well as gasoline and diesel fuel for owned vehicles. The increase from fiscal countries. As noted, global energy indicators lag by one-year in data reporting. 2019 to fiscal 2020 was primarily attributed to an increased dependence on Onsite Global Fuel Use (GJ) Fiscal 2020 2019 2018 2017 2016 Total 103,761 61,659 68,594 85,709 77,494 40 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES Information about Bank standards, methodologies, and assumptions used, Electricity, cooling, and steam consumption are provided in the table below. The including conversion factors, can be found in the Bank Group’s Inventory Man- Bank does not purchase heating, such as district heating, for consumption, or agement Plan for fiscal 2020. Fuel consumption from renewable resources is not sell any electricity, heating, cooling, or steam. tracked because data from fuel providers globally are not appropriately detailed. Purchased Energy Consumption (GJ) Fiscal 2020 2019 2018 2017 2016 Total 368,168 396,656 405,953 420,295 415,132 Electricity 364,008 392,156 399,551 414,418 409,209 Cooling 415 748 1,184 5 0 Steam 3,745 3,752 5,217 5,873 5,923 Total Energy Consumption (GJ) Fiscal 2020 2019 2018 2017 2016 World Bank Total Energy 471,930 458,315 474,547 506,005 492,626 U.S. facilities and vehicles 278,889 295,673 307,651 316,337 325,712 Country office facilities and vehicles 193,041 162,642 166,896 189,668 166,915 Total global energy consumption from within the organization includes onsite Information about Bank standards, methodologies, and assumptions, including fuel use, vehicle fuel use, and purchased electricity, cooling, and steam. In fis- conversion factors, can be found in the Bank Group’s Inventory Management cal 2020, data was collected from the Bank’s 13 U.S. facilities and the 155 coun- Plan for fiscal 2020. try office facilities. The increase in fiscal 2020 was primarily attributed to the increased dependence on diesel generators at an FCV country office, as men- tioned in on-site fuel use above. 41 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES 302-2:  ENERGY CONSUMPTION OUTSIDE OF THE ORGANIZATION Energy consumption outside the institution includes fuel used in contrac- travel. Data for fuel use in commercial airliners are not available, as this informa- tor-owned vehicles as well as commercial airlines used for employee business tion is not provided by commercial airlines. Total Energy Consumption (GJ) Fiscal 2020 2019 2018 2017 2016 Contractor-owned vehicles 10,679 18,467 19,808 20,328 18,468 302-3:  ENERGY INTENSITY RATIO FOR THE ORGANIZATION Overall, energy use increased in the Bank’s 168 global facilities from fiscal 2019 The Bank’s owned and managed facilities continued to increase energy effi- to fiscal 2020, primarily attributed to the increased dependence on diesel gener- ciency (reduce energy use). Buildings constitute one of the largest sources of ators at an FCV country office, as mentioned in on-site fuel use above. There was GHG emissions. also a small increase in total occupied office space, resulting in the same global energy intensity from the prior fiscal year. Energy Intensity (GJ/m2) Fiscal 2020 2019 2018 2017 2016 World Bank Energy Intensity (GJ/m2 ) 0.74 0.74 0.77 0.81 0.80 Total energy (GJ) 471,930 458,315 474,547 506,005 492,626 Total occupied square meters (m²) 637,467 619,883 612,330 624,568 612,247 The energy intensity ratio is based on total occupied square meters. This ratio cooling, and steam) used to conduct business operations. The ratio includes includes all energy (onsite combustion fuel, mobile combustion fuel, electricity, only energy consumption within the organization. 302-4:  REDUCTION OF ENERGY CONSUMPTION In fiscal 2020, within the organization, the Bank’s global energy usage increase headquarters, the Bank’s energy use decreased by 16,784 GJ from fiscal 2019 (scope 1 and 2) is primarily attributed to the increased dependence on die- to fiscal 2020. The Bank invested in energy-reduction and -efficiency initiatives sel generators, as mentioned in on-site fuel use above. However, within the 42 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES at the headquarters and several country offices, which includes the following refrigerant, which is being phased out globally due to ozone depletion projects: potential and its implications on global warming. • In headquarters, continued improvements to make the buildings more • The new office in Sofia, Bulgaria was completed and incorporated ener- efficient continued, including installation of an Aquacore system to gy-efficient HVAC and lighting into the design. monitor gas and water; replacement of the cooling tower and controller The reductions are based mainly on electricity usage. Reduction reporting is in the Main Complex to VRF technology; incorporation of LED lighting into based on major initiatives taken in fiscal 2020 as well as the impact of the global retrofits and new designs; and progress on an air handler project. COVID-19 pandemic and resulting office building closures. Reductions are cal- • In Chennai, India (Taramani), the HVAC was replaced, employing Variant culated between fiscal years. The base year reduction in this case is fiscal 2019. Refrigerant Flow (VRF) technology, providing an estimated 30 percent Methodologies and assumptions for calculating reductions are specific to each savings in energy consumption, and allowing the elimination of the R-22 initiative and are sourced from engineering proposals. MANAGEMENT APPROACH: WATER SECURITY The world will not be able to overcome the sustainable development challenges Director of Global Corporate Solutions. Water use is evaluated both as an abso- of the 21st century—including human development, livable cities, climate lute figure and on an intensity basis to determine progress. Responsibility for change, food security, and energy security—without improving management of increasing the water efficiency at headquarters, falls under the Senior Manager water resources and ensuring access to reliable water and sanitation services. for Corporate Real Estate in the Bank’s Global Corporate Solutions Department. Quarterly evaluation of the use of water, like other utilities, is conducted by the This topic applies to the Bank’s corporate impact boundary. 303-3:  WATER WITHDRAWAL BY SOURCE Of the total 261.6 megaliters of water usage globally in fiscal 2020, 158.5 megali- water used. Water usage decreased in part due to the COVID-19 global pandemic ters of municipal water was used in the headquarters, primarily for domestic and and mandatory home-based work for staff the last three and a half months of drinking water purposes. Country offices reported a total of 103.1 megaliters of fiscal 2020. Water Usage (Megaliters) Fiscal 2020 2019 2018 2017 2016 Global total 261.6 299.1 343.9 383.0 337.7 Headquarter facilities 158.5 184.7 226.7 187.1 193.7 Country office facilities 103.1 114.4 117.2 195.9 144.0 43 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES The headquarters facilities use municipal water supply from the Potomac River Water use is based on utility bills from the local water utility (Water and Sewer watershed. No surface water, groundwater, rainwater collected by the organi- Authority of Washington, D.C.) for headquarters facilities and from utility bills or zation, or wastewater from other organizations was used in the headquarters meters for those country offices that are able to report. facilities in fiscal 2020. Country offices do not currently collect this information. However, the Bank is building systems to collect this information globally. MANAGEMENT APPROACH: BIODIVERSITY Biodiversity supports economic growth and human well-being. It is essential for being scaled up to a larger agriculture project; the Sahel and West Africa sustainability and to maintain ecological and social resilience to disturbances Program in support of the Great Green Wall (funded by GEF plus IDA and such as climate change. The world is experiencing a dramatic loss of biodiver- Trust Funds); and Colombia Sustainable Cattle Ranching (funded by GEF sity, which has negative effects on livelihoods, water supply, food security, and and Trust Funds). resilience to extreme events. It has consequences for 78 percent of the world’s • Infrastructure and other large-scale development projects that address extreme poor who live in rural areas, many of whom rely on ecosystems and the biodiversity conservation in order to maintain environmental services, goods they produce to make a living. The Bank estimates that crimes affecting mitigate adverse impacts, and enhance biodiversity outcomes, such as natural resources and the environment inflict damage to developing countries the Cameroon Lom Pangar Dam and Lao Nam Theun 2 Dam. Both support worth more than $70 billion a year. The livelihoods, welfare, and safety nets of large conservation areas as biodiversity offsets. the rural poor, especially women, are often inextricably dependent on natural Wherever feasible, Bank-financed projects are sited on already converted lands and semi-natural ecosystems. Biodiversity is especially significant for the 300 to preserve critical natural habitats. The Bank does not support projects that million Indigenous Peoples of the world for many of whom nature, apart from involve the significant conversion or degradation of critical natural habitats being a source of livelihood and well-being, is the foundation for their cultural unless there are no feasible alternatives for the project and its siting, and com- and spiritual identities. This topic applies to the Bank’s operational impact prehensive analysis demonstrates that overall benefits from the project sub- boundary. stantially outweigh the environmental costs. In response to a 2013 Independent The Bank’s Environment, Natural Resources, and Blue Economy Global Practice Evaluation Group review of the Bank’s portfolio in the forest sector, the Bank works with national and local stakeholders to improve natural resources man- Group developed a Forest Action Plan (FAP) for fiscal 2016–20 that aims to agement, addressing biodiversity through country-specific and regional proj- boost the potential of forests to lift people out of poverty and generate lasting ects, such as the following: social, economic, and environmental returns in developing countries. Forests and trees provide vital resources and ecosystem services for humanity by regu- • Dedicated conservation projects, including with the Global Environment lating climate and hydrological systems. The number of people deriving direct Facility (GEF), such as the South Africa iSimangaliso Wetland Park; the and indirect benefits from trees in the form of employment, forest products, and Amazon Landscape Program; and the Global Wildlife Program (supported contributions to livelihoods and incomes is estimated at $1.3 billion. In fiscal by GEF plus IDA and Trust Funds). 2021, the Bank began preparing a Forest Action Plan Update for fiscal 2021–25, • Broader agricultural and natural resource management projects (includ- building on lessons learned from the Forest Action Plan fiscal 2016–20. ing landscape-level interventions), such as in Burundi where biodiversi- ty-friendly shade coffee in the Sustainable Coffee Landscape Project is 44 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES 304-2:  SIGNIFICANT IMPACTS OF ACTIVITIES, PRODUCTS AND SERVICES ON BIODIVERSITY The Bank mandates that projects with a Project Concept Note review carried The ESF has an Environmental and Social Standard (ESS) specifically on biodi- out in fiscal 2019 or later apply its Environmental and Social Framework (ESF) versity, ESS6: Biodiversity Conservation and Sustainable Management of Living during project preparation and implementation. In addition, the Bank has a Natural Resources. ESS6 recognizes that protecting and conserving biodiversity redress mechanism to address any questions that might arise from stakeholders and sustainably managing living natural resources are fundamental to sustain- or civil society during implementation. able development and it recognizes the importance of maintaining core ecolog- ical functions of habitats, including forests and the biodiversity they support. The ESF enables the Bank and Borrowers to better manage environmental and ESS6 also addresses sustainable management of primary production and har- social risks of projects and to improve development outcomes. It intends to pre- vesting of living natural resources and recognizes the need to consider the live- vent or mitigate impacts and, whenever possible, increase positive impacts on lihood of project-affected parties, including Indigenous Peoples, whose access biodiversity generated by investments supported by the Bank. to, or use of, biodiversity or living natural resources may be affected by a project. 304-3:  HABITATS PROTECTED OR RESTORED The Bank portfolio from 2015 to 2020 supported $1 billion of direct investments created. The Bank also supported investments in habitat restoration covering across 55 projects, funding interventions in sectors such as forestry, agriculture, more than one million hectares through 18 projects. and sustainable livelihoods. Within the portfolio, 21 projects specifically sup- The Bank partners with the following initiatives to help protect and restore hab- port 264 terrestrial protected areas and 40 marine protected areas through the itats: the Global Partnership on Wildlife Conservation and Crime Prevention for protection, maintenance, and rehabilitation of natural habitats using project Sustainable Development; the International Consortium on Combating Wildlife financing, policy, and advisory work. Crime; the Amazon Sustainable Landscapes Program; the SAHEL Initiative; the The projects cover a wide range of biomes including savanna, forests, drylands, Great Green Wall Initiative; African Forest Landscape Restoration Initiative (AFR grasslands, marine, and coastal habitats across the world. In total, through Bank 100); the UN Decade for Ecosystem Restoration; Global Landscape Forum; and support, approximately 10 million hectares of new marine protected areas and the Food Systems, Land Use, and Restoration Impact Program. over 4.3 million hectares of new terrestrial protected areas will be or have been MANAGEMENT APPROACH: CARBON EMISSIONS Addressing climate change is part of the Bank’s core mission of helping coun- The Bank continues to deepen its efforts to measure, reduce, offset, and report tries end extreme poverty and boost shared prosperity in a sustainable manner. GHG emissions associated with its global internal operations, including its facil- Climate change threatens to erode development gains around the world, and its ities, key meetings, and corporate air travel. The Bank has measured the GHG effects are greatest on the poorest and most vulnerable countries. These coun- emissions from its headquarters facilities since 2005 and globally since 2007 in tries are the Bank’s clients. accordance with the World Resources Institute and World Business Council for 45 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES Sustainable Development’s GHG Protocol. Emissions from headquarters have Regional Vice Presidents, as well as the Director of Global Corporate Solutions. been offset since 2006 and offset globally since 2009. This topic applies to the Bank’s corporate impact boundary. The COVID-19 pandemic impacted intended progression toward sustainability goals, includ- Additional information on proxies, emissions factors, and the complete bound- ing a delay in conducting an energy audit of the headquarters campus. ary are available in the Bank Group’s Inventory Management Plan. A third party periodically verifies the Inventory Management Plan and the GHG inventory to Gases included in these calculations are carbon dioxide (CO2), methane (CH4), ensure they meet international best practices. nitrous oxide (N2O), and hydrofluorocarbons (HFCs). There are no known emis- sions of perfluorocarbons (PFCs), sulfur hexafluoride (SF6), or (NF3), as detailed In fiscal 2021, the Bank Group launched a procurement process for 100 per- in the Bank Group’s Inventory Management Plan. Base year for this calculation cent renewable energy for headquarters, with the switch to a renewable power is fiscal 2016, which began on July 1, 2015. Fiscal 2016 was chosen as the base source expected in fiscal 2022. A number of country offices are pursuing renew- year because the previous target was ending. Information on methodology, able energy sources. In Paris, for example, the Bank Group is in the process of emissions factors, Global Warming Potential (GWP) rates, and consolidation replacing the HVAC system and aims to connect to the Paris district cooling net- approach are in the Inventory Management Plan for fiscal 2020. work in fiscal 2022, which is part of the city’s phased expansion. For more information, see http://www.worldbank.org/corporateresponsibility. Responsibility for minimizing GHG emissions from headquarters facilities and country offices falls under the Bank’s Regional Management Teams, headed by 305-1:  GROSS DIRECT (SCOPE 1) GHG EMISSIONS The Bank measures direct GHG emissions for its internal operations based on generators at an FCV country office, as mentioned in on-site fuel use above. site-specific data for facilities. Estimates are made for those facilities with miss- Unavailability of Data for natural gas at a US office in fiscal 2019 caused a dip in ing data. In fiscal 2020, there was an overall increase in Bank scope 1 emissions scope 1 emissions that year. This data was available again in fiscal 2020, hence from fiscal 2019, primarily attributed to the increased dependence on diesel the increase. Scope 1 Emissions (tCO2eq) Fiscal 2020 2019 2018 2017 2016 World Bank Total 8,348 7,114 8,490 7,818 6,970 U.S. facilities and vehicles 931 631 877 944 975 Country office facilities and vehicles 7,417 6,482 7,613 6,874 5,996 46 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES 305-2:  ENERGY INDIRECT (SCOPE 2) GHG EMISSIONS The Bank measures indirect GHG emissions for its internal operations based decreased due to energy-efficiency projects and the COVID-19 global pandemic, on site-specific data for facilities. Estimates are made for those facilities with with mandatory home-based work for staff the last three and a half months of missing data. In fiscal 2020, scope 2 emissions from the Bank’s global offices fiscal 2020. Scope 2 Emissions (tCO2eq) Fiscal 2020 2019 2018 2017 2016 World Bank total 36,843 42,654 43,663 45,120 46,031 Headquarters 23,099 27,569 28,317 29,151 32,725 Country offices 13,744 15,085 15,346 15,968 13,306 305-3:  OTHER INDIRECT (SCOPE 3) GHG EMISSIONS The Bank measures indirect GHG emissions globally from business air travel by 2019 emissions in the table below include RF for consistent comparison. Scope Bank employees and contractor-owned vehicles. Beginning in fiscal 2020, scope 3 emissions prior to fiscal 2019 and additional details are available in the Inven- 3 emissions include emissions from food service purchases at the headquarters tory Management Plan for fiscal 2020. calculated with the World Resource Institute’s Cool Food Pledge. In fiscal 2020, Business air travel emissions are the majority of the scope 3 emissions, and busi- the Bank Group signed the Cool Food Pledge, committing to reducing food-re- ness travel from fiscal 2019 to fiscal 2020 decreased by 37 percent. This decrease lated emissions from cafeterias, coffee bars, and catering operations at head- can be primarily attributed to the COVID-19 pandemic, which significantly quarters by 25 percent by 2030. Also beginning in fiscal 2020, business air travel impacted air travel from mid-March 2020 to June 2020. emissions have radiative forcing (RF) with an index factor of 1.9 applied. Fiscal Scope 3 Emissions (tCO2eq) Fiscal 2020 Fiscal 2019 World Bank global total 136,915 200,302 Global business air travel (with RF) 124,896 198,969 Global contractor-owned vehicles 764 1,333 Headquarters Cool Food Pledge 11,255 n/a 47 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES 305-4:  GHG EMISSIONS INTENSITY Overall, the fiscal 2020 scope 1 and 2 emissions intensity for the Bank’s 168 global COVID-19 global pandemic and air travel coming to a halt for staff from mid- facilities (in over 140 countries) decreased because overall emissions decreased March 2020 to June 2020. while the total global occupied office space increased slightly from fiscal 2019. Note: beginning in fiscal 2020, business air travel emissions have radiative forc- This decrease is due to increased energy efficiencies implemented globally as ing (RF) with an index factor of 1.9 applied. Fiscal 2019 emissions intensity in the well as staff shifting to home-based work beginning in mid-March 2020. The table below also includes RF for consistent comparison. Scope 3 intensities prior scope 3 emissions per full-time equivalent (FTE) employee decreased due to the to fiscal 2019 can be found in the Bank’s 2020 GRI report and additional method- ology details are available in the Inventory Management Plan for fiscal 2020. Emission Intensities Fiscal 2020 2019 2018 2017 2016 Scopes 1 and 2 (tCO2eq per square meter) 0.071 0.080 0.085 0.085 0.087 Scope 3 (tCO2eq per full-time equivalent) 7.64 11.52 - - - The Bank measures GHG emissions intensity in two distinct categories: (i) scope while the latter emissions are normalized per FTE employee, which consists of 1 and 2 and (ii) scope 3. The former emissions are normalized per square meter, staff and short-term consultants. 305-5:  REDUCTION IN GHG EMISSIONS Between fiscal 2019 and fiscal 2020, the Bank’s global total emissions within emissions reductions are the result of energy efficiency projects due to staff the organization (scope 1 and 2) were reduced by 4,577 tCO2eq, predominantly shifting to home-based work in mid-March 2020. The base year reduction in this through reductions in electricity use. The headquarters facilities had an elec- case is fiscal 2019. tricity emissions reduction of 4,470 tCO2eq, but it is unclear how much of these MANAGEMENT APPROACH: WASTE The Bank views reducing effluent and waste production as a material aspect The Bank has reduced the amount of waste sent to landfills through a combina- because of potential negative environmental impacts, including the release of tion of source reduction, reuse, composting, and recycling. Its strategies include: persistent toxic chemicals through waste disposal in landfills and through incin- • Minimizing the amount of material brought into Bank facilities; eration. This topic is material within the Bank’s corporate boundary. • Avoiding unnecessary packaging for purchased items; 48 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES • Encouraging minimum-purchase thresholds for office supplies; and Responsibility for managing this impact area is shared by the Senior Manager of Corporate Real Estate in Global Corporate Solutions; the Senior Manager of • Mandating large purchases from vendors be delivered in bulk instead of Corporate Procurement; and Regional Management Teams, headed by Regional individually packaged. Vice Presidents. 306-2:  TOTAL WEIGHT OF HAZARDOUS AND NON-HAZARDOUS WASTE Total hazardous waste generated at headquarters facilities for fiscal 2021, all attributed to the COVID-19 global pandemic and limited use of office buildings, disposed of appropriately by a third party, was 248 pounds of medical waste with the majority of staff working from home. All food services were close at the and 134 gallons of recycled fluids, including paint and used oil. headquarters facilities during fiscal 2021, so there was no composting or food donation. While staff primarily worked at home, the Bank facilities team took Typical non-hazardous waste items from Bank facilities include paper, bottles, the opportunity to modernize some of the office space, resulting in increased cans, cardboard, food waste, toner cartridges, carpet tiles, and electronics. construction waste, of which approximately 20 percent was recycled. Also at Total nonhazardous waste generated at headquarters, where about 55 percent the headquarters, the Sort-It-Out waste disposal system was expanded to the of Bank staff are based in fiscal 2021, was 709 metric tons, compared to 1,663 recently purchased G building. metric tons in fiscal 2020. The significant decrease in landfill and recycling is Waste Streams (Metric Tons) Fiscal 2021 2020 2019 Waste diverted from landfill (%) 33 67 61 Total nonhazardous waste at headquarters (metric tons) 709 1,663 2,248 Landfill 476 548 887 Recycling* 233 693 1,021 Compost 0 415 334 Food donation 0 7 7 * Includes paper, bottles and cans, cardboard, toner cartridges, carpet tiles, construction waste recycled, and electronics. Waste disposal information at headquarters is provided by the Bank’s waste electronics provider, which provides information on the number of com- management contractor that manages landfill, recyclables, and compostable puters and other IT assets recycled yearly. Weights from roll-off compactors waste. Electronics disposal information at headquarters is provided by used for landfilled waste and recycling are exact weights to the closest one the Bank’s electronic-waste recycler, subcontracted through the computer tenth of a ton. 49 WORLD BANK GRI INDEX 2021 ENVIRONMENTAL DISCLOSURES  : :  GRI 300  ENVIRONMENTAL STANDARDS SERIES Social Disclosures GRI 400  Social Standards Series MATERIAL TOPICS: HUMAN RESOURCES, OCCUPATIONAL HEALTH AND SAFETY, STAFF LEARNING, DIVERSITY AND INCLUSION, NON- DISCRIMINATION, CHILD LABOR, RIGHTS OF INDIGENOUS PEOPLES, HUMAN RIGHTS, ENVIRONMENTAL AND SOCIAL IMPACT MANAGEMENT APPROACH: HUMAN RESOURCES This topic is material within the corporate boundary of the World Bank (Bank). The Bank’s HR Strategy (Fiscal 2020–22) establishes people management as a Stakeholders, including potential employees, shareholders (the Board), and shared accountability between senior leadership, the Human Resources Vice sustainable and impact investors, recognize that the way the Bank manages Presidency (HRD), managers, and staff. It sets out a three-year roadmap of HR staff, its most valuable resource, is highly relevant to its business impact. Human programs and priorities focused on achieving the business objectives outlined resources (HR) policies apply across the five institutions that comprise the World in the Forward Look. Bank Group (Bank Group). However, staff numbers provided in this GRI Index In fiscal 2021, the Bank Staff Association (SA) continued to provide support to pertain to Bank staff only. staff and contractors during the COVID-19 pandemic. The SA provided financial Bank staff come from over 170 countries. Their diversity and global reach stand assistance through its Compassion Fund Program for staff severely impacted out among other international financial institutions and development orga- through unexpected hardships. The SA undertook a research initiative known nizations. Bank staff include agronomists, economists, educators, engineers, as the Staff Wellness Project, which was launched in September 2020 as a direct environmental scientists, financial analysts, foresters, information technol- result of the pandemic. The goal was to identify and assess the impact of the ogy specialists, and social scientists, among others, who offer clients a unique pandemic on the wellbeing of staff, the way staff deliver their contributions combination of global expertise and in-depth local knowledge. To deliver on its while working from home, and the impact of the corporate changes introduced mission, the Bank strives to be the best place to work in development by offer- by the senior leadership team. ing an employee value proposition that attracts, motivates, and retains world- The SA continues to provide support to its overseas representative teams, the class, diverse talent with the critical skills, experiences, mindsets, and behaviors Country Office Staff Associations (COSAs), through dialogue and advocacy. needed to effectively respond to complex and constantly evolving client needs. In addition, the SA supported the Task Force on Anti-Racism through its SA To capitalize on these comparative advantages requires an understanding of Updates and statements of solidarity against racism. The SA, in accordance with where the business is headed and the skills mix required, coupled with the abil- its mandate, provides input to HR, when consulted on policy proposals. Addi- ity to identify, grow, and deploy talent in a proactive and deliberate way, as envi- tional engagement takes place through the SA’s Statements to the Board, which sioned under the institution’s Human Resources (HR) Strategy. 50 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES convey the viewpoints of staff and flag broad areas of discussion, for the atten- The HRD monitors and reports on implementation of the People Strategy tion of the Bank Group leadership. through regular engagements with the Board and senior management. A strat- egy scorecard tracks progress against key performance indicators that align with Staff Policies the priorities of the three-year strategy, and the Corporate Scorecard includes a The Bank’s employment policies are articulated in its Staff Manual, which is number of talent management indicators. Regular staff engagement surveys pro- established by the institution and periodically reviewed and revised to ensure vide crucial input on the mood of the organization and issues for management relevance and suitability for both staff and the business. The manual includes to tackle. Periodic internal audits of key HR processes identify areas for improve- the principles of staff employment and general obligations of the Bank and staff, ment and result in follow-up action plans that address highlighted findings. as well as policies governing core human resource processes. These policies are supported by procedures that guide its implementation. 401-1:  EMPLOYEE TURNOVER In fiscal 2021, the Bank hired 759 new staff, half in country offices. Just over half (52 percent) of new staff were female. Staff Hired Fiscal 2021 Fiscal 2020 Number Percent of Total Number Percent of Total Headquarters 333 44% 391 50% Female 185 56% 213 54% Male 148 44% 178 46% Country Offices 426 56% 384 50% Female 213 50% 200 52% Male 213 50% 184 48% Age Under 30 129 17% 142 18% 30-50 579 76% 560 72% 50+ 51 7% 73 9% Total Hires 759 775 Of which female 398 52% 413 53% Of which male 361 48% 362 47% 51 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES In fiscal 2021, 629 staff left the institution, representing a turnover rate of 5.0 ­percent. The table below shows the breakdown by age group, gender, and region. Staff Exits Fiscal 2021 Fiscal 2020 Number Percent of Total Number Percent of Total Headquarters 403 64% 411 64% Female 197 49% 202 49% Male 206 51% 209 51% Country offices 226 36% 228 36% Female 85 38% 113 50% Male 141 62% 115 50% Age Under 30 33 5% 37 6% 30-50 307 49% 305 48% 50+ 289 46% 297 46% Total departures 629 639 Of which female 282 45% 315 49% Of which male 347 55% 324 51% MANAGEMENT APPROACH: HEALTH AND SAFETY The Bank Group is implementing a phased strategic change process, moving A network of regional health and safety advisors work together to enhance staff from a medically-oriented service that primarily responded to emerging health health, safety, and well-being via technical assistance outreach and health and needs to an integrated occupational health and safety (OHS) model emphasiz- safety assessments undertaken at Bank Group global locations. These assess- ing risk management and prevention. The Bank Group is committed to making ments are the foundations for managing health and safety risks through pre-de- every effort to protect and promote staff health and safety wherever they may ployment briefings; offering evidence-based, quality-controlled OHS services; be, taking account of their individual health status, working environment, and enhancing capacity in offices in fragile, conflict, and violent situations; and job demands. This is achieved by managing health and safety risks, offering nurturing trust in clients. The Bank Group’s Enterprise Risk Committee and its evidence-based, quality-controlled and integrated OHS services, and nurturing subordinate OHS Practitioners Committee are tasked with developing, imple- trust in staff through professionalism and confidentiality. menting, and evaluating an OHS management system that applies to Bank staff worldwide. 52 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES To determine what is a hazard to health and safety within the Bank Group and vaccinations, etc. that may be necessary given their exposure to specific to put into place controls to reduce the risk that hazard presents, the institution hazards as part of their work. has established an OHS Risk Management Program. The program provides the method by which such hazards are identified within the workplace, translates 2. Work Environment: Numerous hazards exist in work environments, exposure to these hazards into associated risk, and transforms this risk infor- especially in industrial settings; however, even large occupancy buildings mation into control plans. These plans are applicable at all levels of OHS haz- have an industrial component among those supporting units. ard management from the lowest level hazard through to significant hazards. The Bank Group adopted an integrated approach to provide a wider image of 3. General Environment: The Bank Group’s diverse and unique workforce the health and safety hazards and associated risk inherent in the diverse opera- lives and operates within a global environment, which impacts every staff tional scope of the Bank Group and how these hazards may impact the individ- member’s health and safety daily. The security risk management system ual and/or exposed population. The basis of this integrated health and safety covers many aspects of the general environment such as natural risks (for approach is centered around three dimensions: example, earthquakes, tsunamis, and extreme weather) and man-made 1. Population Health: Individual and population health risks are defined risks (for example, road traffic crashes and fire safety, among other). Such as a combination of modifiable behaviors, genetic predisposition, and events will undoubtedly generate significant OHS hazards requiring control existing, treatable medical conditions. It is central that these health risks measures that are safety oriented. To facilitate OHS communication and are identified and addressed before they lead to chronic conditions which familiarization, there are multiple e-learning trainings on Occupational negatively affect personal quality of life and productivity. Health risk Health, Safety, and Well-Being, including Travel Health, Mental Health, and categorization is based on a self-reported, industry-standard benchmark of Resiliency. This training is available for all staff and consultants globally individual health risk factors. Work activities influence staff. These effects through the Bank Group OLC, in person (when offices are open) or remotely may be both beneficial and detrimental and may influence the individual’s via video conferencing. health or well-being as part of the workforce. Inclusive in the individual The director of the Bank Group Health and Safety Directorate reports to the health dimension is any health or medical-related preemployment criteria Bank Group Managing Director-Chief Administrative Officer. for staff, related biomedical and/or health screening, and prophylactics/ 403-1:  OCCUPATIONAL HEALTH AND SAFETY MANAGEMENT SYSTEM The Bank is dedicated to defining and implementing an OHS management system management, managers, and supervisors as well as contractors and visitors as in accordance with external best practice (ISO 45001). The Bank Group Directive seen in the Bank Group Health and Safety Directive and Staff Manual. on an OHS Management System was approved in January 2018. Responsibility for occupational health and safety is shared by all Bank staff, including senior 53 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 403-2:  HAZARD IDENTIFICATION, RISK ASSESSMENT, AND INCIDENT INVESTIGATION The procedure(s) for hazard identification and risk assessment considers the It is important to note that when conducting a risk assessment that relates to following: a process or a task, the full task or process is assessed. Risks cannot always be assessed effectively in isolation from their process. The Risk Register con- 1. Personal and Population Health Risk: Medical clearance for certain tains a summary of the identified hazards within the Bank Group. It provides categories of staff, personal health monitoring when needed, staff surveys, a referenced overview of these hazards; an appreciation of what would be and health risk stratification for population health management. considered as low, medium, or high risk; and information on the current con- trol measures that are in use in the Bank Group. Essentially, it is a living doc- 2. Work Environment: Measurement of air quality, water, food, work ument: as more risk assessments are conducted, the information contained processes, and activities of all persons involved in Bank Group undertakings within the register is updated and improved. The Bank Group has a wide (including contractors and visitors); human behavior, capabilities, and variety of office locations, functions, activities, and levels of risks. A hazard other factors. may exist in one country office but not in others, or the level of risk for a spe- cific hazard may differ significantly. A knowledge base of hazards and con- 3. General Environment: Monitoring pollutants in air, soil, and water; security trol measures, standards and procedures, and methodologies is crucial to situations; effects of seasonal change (hot/cold/wet/dry); levels of violence; form a comprehensive overview of the organization and its inherent or actual and measuring and controlling hazards/risk created by organization. OHS risk. Assessment of psychosocial risks is undertaken using the Copenha- gen Psychosocial Questionnaire and by regular Staff Health and Safety Risk The risk assessment process starts with the completion of a fully comprehen- Assessment Survey. sive Health and Safety Hazard Identification Survey, commissioned by the Health and Safety Directorate. Once these hazards have been identified, the All Bank Group staff are empowered–and have the responsibility–to iden- control measures currently in place must be evaluated and the associated tify and report any unsafe workplace acts or situations to management. remaining risk calculated. Where the remaining risk is high or unacceptable, Staff policies and procedures, as defined in the Staff Manual, clearly identify the development and implementation of further appropriate controls is nec- ways in which workers can report work-related hazards and hazardous sit- essary, and a re-examination of the remaining risk is conducted to determine uations, including reporting directly to HSD, emailing the Bank Group help if this is remaining risk is acceptable. This process leads to the development of desk and reporting to management. In addition, a formal software tool to an OHS Risk Management Plan. Continuing risk reviews must be undertaken report any work-related hazards and hazardous situations is under develop- when there is a reasonable OHS risk associated with: (i) the occurrence of an ment. Workers are protected against reprisals by the Bank Group’s Internal injury or near miss, which reveals a previously unidentified or uncontrolled Justice Services (IJS), which endeavors to support staff to preserve fairness hazard; (ii) the introduction of new equipment, offices, procedures, or pro- in the workplace. cesses; (iii) the modification of equipment, procedures, or processes; or (iv) a Bank Group staff are protected by the rights and obligations as identified in change in specific circumstances that increases the risk to an individual (for the staff rules and supported by the instruments available to staff via the Bank example, significant change in work process and structures, pregnancy, return Group Internal Justice and Business Ethics units. to work from a long-term condition, or status change of the health or securi- ty-level of a country or specific location). 54 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 403-3:  OCCUPATIONAL HEALTH SERVICES The Bank Group Health and Safety Directorate provides a comprehensive suite of professional registration in the countries where they are performing their OHS and personal health risk management services through the following units: clinical duties. The Health and Safety Directorate is cross supported by other vice-presidential • Occupational Health and Safety: addresses individual, workplace, and units, including Human Resources and directorates such as the Global Corpo- global health and safety issues. rate Solutions which houses Corporate Real Estate, Corporate Security, and • Personal Health and Wellness: addresses health risks of travel and relo- Travel units. The Bank Group’s OHS Committee, which reports to the senior cation and manages an outsourced, full-service, on-site Primary Health management Enterprise Risk Management Committee (ERC), is tasked with Care Center for staff, dependents, and retirees at headquarters in Wash- developing, implementing, and overseeing an OHS management system that ington, D.C., run according to a patient-centered medical home model. applies to the Bank’s employees worldwide. The OHS management system The Bank Group also offers an outsourced Health and Wellness Program being implemented by ERC is based on ISO 45001. ERC forms multidisciplinary, that allows staff globally to identify and manage their health risks, obtain ad-hoc working groups to address specific concerns, such as a working group health and wellness coaching, and have clinical nurse manager support for air pollution, which developed guidelines for staff and managers in country for living with chronic medical conditions. The Personal Health and offices where air quality is a recognized health hazard. Wellness unit also provides services that enable staff to access health care During the COVID-19 pandemic, the Health and Safety Directorate has provided across the globe, for both routine and emergency needs. guidance on preparedness and risk management for all Bank Group locations, • Mental Health and Well-Being Unit: addresses psychosocial sup- in addition to decision making processes and tools to manage health and port needs. Staff with clinical functions are required to have active safety risks. 403-4:  WORKER PARTICIPATION, CONSULTATION, AND COMMUNICATION ON OCCUPATIONAL HEALTH AND SAFETY The Bank Group’s OHS Committee meets as needed on a quarterly basis to • Developing an organizational strategy for the Bank Group on implement- address health and safety issues as they relate to staff worldwide. The commit- ing an OHS management system; tee is chaired by the director of HSD and includes occupational health special- • Providing advice to units implementing OHS strategies and programs; ists, environmental consultants, and senior management representatives from headquarters and country offices, HRD, Internal Justice Services, Corporate Real • Developing internal OHS standards; Estate, Corporate Security, Fire and Life Safety, Legal, Procurement, Corporate • Monitoring and evaluating the implementation and impact of the OHS Responsibility, the Staff Association, Budget, and additional specialists and management system and making recommendations for change; members as required. To address staff concerns, the committee forms multidis- ciplinary ad-hoc task working groups under the guidance of the ERC. • Developing training programs on risk management, accident and disease prevention, and related educational activities for staff; The OHS Committee provides decision making and guidance related to: • Proposing ways to incorporate lessons learned from health and safety incidents; 55 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES • Coordinating outreach to staff on OHS issues, questions, and suggestions; The Emergency Management Team (EMT) assumed the function of guiding the and Bank Group’s response to the COVID-19 pandemic in the context of employees’ health and safety. • Overseeing the compiling of data on work-related injuries, incidents, and hazards into an annual report. 403-5:  WORKER TRAINING ON OCCUPATIONAL HEALTH AND SAFETY HSD has developed and implemented 11 online learning courses for staff. The • How to undertake a risk assessment and management approach for courses are available globally through the Bank Group’s learning platform (OLC), health, safety, and well-being; OHS roles and responsibilities for manag- in person or remotely via video conferencing. Participants are introduced to: ers, supervisors and task team leaders. • The Bank Group OHS management system, which considers the health • Community of practice to be developed for country office OHS focal points, and safety risks posed by personal health, workplace, and the general including online training, virtual training, and in-person instruction. environment in which staff work. • COVID-19 return-to-office familiarization: identifying and familiarizing • The governance structure of the Bank Group’s Health and Safety manage- staff with COVID-19 prevention, mitigation, and control measures within ment system. Bank Group workspaces. • How workplace health and safety is a shared responsibility, and the role • Mental health and resilience, automated external defibrillator (AED), car- of Bank Group in upholding a healthy and safe work environment. diopulmonary resuscitation (CPR), and bleeding control training. 403-6:  PROMOTION OF WORKER HEALTH The Bank Group has introduced a patient-centered medical home model that • Broader spectrum of clinical services, incorporating the urgent care for- provides primary-care services at headquarters. Instead of seeking outside care, merly provided by the HSD clinic; staff and their dependents can visit the expanded in-house clinic and receive • Medical home base with access to a network of specialty care; care delivered by the MedStar Medical Group. • Virtual consultations; and The key features of this model include: • Consultation, assessment, and testing related to Coronavirus SARS-cov-2 • Holistic care for families, with a focus on maintaining health and disease infections (COVID-19). prevention; Additionally, HSD’s Personal Health and Wellness staff identify, evaluate, and • Patient-centered focus; monitor health care facilities in country office locations and advise/facilitate access to care as needed, including through a 24/7 Medical Duty Officer call ros- • Team-based service approach; ter. The Bank Group provides comprehensive global health insurance coverage • Easy access to providers via an electronic portal; 56 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES for all staff and dependents, supplemented by both emergency and non-emer- individual health goals, and personalized support through a health coach or gency medical evacuation benefits when critical care is not available locally. advisor who is available via email or telephone. The Health and Wellness Program is composed of additional health support In addition, the Bank Group Health and Safety Directorate provides a number of services provided to staff, dependents, and retirees globally, in partnership health promotion and education programs in areas such as ergonomics, physi- with U.S. Preventive Medicine and the Cleveland Clinic. The program includes cal activity, nutrition, prevention of chronic diseases, mental health, resilience, a health and wellness assessment, a personal preventive plan, the setting of and mindfulness. 403-7:  PREVENTION AND MITIGATION OF OCCUPATIONAL HEALTH AND SAFETY IMPACTS DIRECTLY LINKED BY BUSINESS RELATIONSHIPS The Environmental and Social Framework (ESF) enables the Bank and borrow- • ESS2: Labor and Working Conditions recognizes the importance of ers to better manage environmental and social risks of projects and improve employment creation and income generation in the pursuit of poverty development outcomes. The ESF offers broad and systematic coverage of reduction and inclusive economic growth. Borrowers can promote sound environmental and social risks linked to Bank-supported projects. It has made worker-management relationships and enhance the development bene- important advances in areas such as transparency, non-discrimination, pub- fits of a project by treating workers on the project fairly and providing safe lic participation, and accountability, including expanded roles for grievance and healthy working conditions. mechanisms. For more information, visit: https://www.worldbank.org/en/ • ESS4: Community Health and Safety addresses the health, safety, and projects-operations/environmental-and-social-framework. security risks and impacts on project-affected communities and the Environmental and Social Standards (ESS) 2 and 4 address negative health and corresponding responsibility of borrowers to avoid or minimize such risks safety impacts that are directly linked to Bank-supported operations for borrow- and impacts, with particular attention to people who, because of their ing member countries. circumstances, may be vulnerable. 403-9:  WORK-RELATED INJURIES All hazards and risks are managed in accordance with the principle of hierarchy of controls. Bank work-related rates are established based on 200,000 hours (100 staff x 40 hours x 50 weeks). There were 34,258,000 hours worked in calendar year 2020. 2020 Lost Workday Case Rate - All Workers Compensation Claims Type Employee Category Claims Case Rate Illness Lost Workday Case Rate Staff member 3 .02 Injury Lost Workday Case Rate Staff member 12 .07 Illness Lost Workday Case Rate Short-term consultant 0 0.00 Injury Lost Workday Case Rate Short-term consultant 1 .01 Note: There were no work-related deaths in calendar year 2020. 57 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES In accordance with the Bank Group OHS management system, work-related future control measures is applied in accordance with the hierarchy of controls hazards that pose a risk are defined in the Bank Group Hazard Risk Register. to establish current and residual risk tolerances. All staff are included in accor- Each hazard is aligned to a level of risk according to industry and internal stan- dance with Bank Group staff rules. Data are compiled in accordance with OSHA dards. A risk matrix calculates risk in accordance with severity and intensity. The reporting criteria. Bank Group uses a 4x4 risk matrix structure. The determination of current and MANAGEMENT APPROACH: STAFF LEARNING The Bank invests in staff learning to enhance -wide technical skills and knowl- The OLC team, housed within the Development Economics Vice Presidency, acts as edge, strengthen problem-solving skills, and foster innovation to attain the Bank an enabler and accelerator for learning across the Bank Group. It serves as a central Group’s twin goals of ending extreme poverty and promoting shared prosperity. pedagogical resource and learning ecosystem for seven key learning programs: Oper- Staff take courses to retain and enhance cutting-edge skills as they carry out the ations, Leadership, Business Skills, IT Skills, Technical, Corporate, and Mandatory. Bank’s mission. Stakeholders, including employees, shareholders (the Boards), Funding for formal staff learning is provided to each vice presidential unit and and sustainable and impact investors, recognize learning and knowledge shar- then reallocated down to the Global Practice, department, or other level. Each ing as highly relevant to the Bank’s business impact. This topic is material to year, the minimum amount to be set aside for staff learning per vice presiden- both the Bank’s corporate and operational boundaries, as the Open Learning tial unit is communicated through the indicative expenditure directions, upon Campus (OLC) provides solutions for both staff and partners globally. recommendation of the Learning Steering Group. The minimum amount is cal- The OLC is a single, online destination to accelerate development solutions culated based on two components: a minimum of five days on average that staff through learning for Bank Group staff, clients, and global partners. It offers a are expected to dedicate to formal Staff Learning, and an amount of variable broad range of learning resources via Talks, Academy, and Connect to: (i) pro- budget available to support staff on activities calculated on a headcount basis. vide continuous learning for staff to retain and enhance cutting-edge skills, and Every vice presidential unit has the autonomy to allocate additional resources to (ii) enable staff and clients to learn together and co-create solutions to complex staff learning above the required minimum. development challenges. While the onus is on staff to be proactive in their learn- All learning in OLC is evaluated for scale and impact. On the staff side, the Bank ing, managers are accountable for supporting the learning of their staff. Through evaluates all classes entered in OLC that are greater than or equal to one day. All the Bank’s performance evaluation process and career conversations, staff and classes that are less than a day can be evaluated as needed. On the client side, managers work together on staff development objectives and career goals. the Bank evaluates all learning programs, and regularly informs senior manage- Strategically selecting appropriate learning activities is a key part of this pro- ment, including through three-year trend analysis, to guide programs, imple- cess. Staff can choose from a wide range of internal learning activities available ment course corrections, and create learning innovations. For more information through the OLC or from external learning providers. about OLC, see: https://olc.worldbank.org. 404-1:  AVERAGE HOURS OF TRAINING PER YEAR PER EMPLOYEE In fiscal 2021, the Bank delivered 55,412 days of learning. All training days were During fiscal 2021, 92 percent of the salaried workforce attended at least one delivered via location-neutral formats, such as e-learning and webinars. learning event, not including corporate mandatory programs: 93 percent based 58 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES in country offices and 91 percent at headquarters. These individuals attended with 3.1 days taken by staff based in offices outside the U.S. and 3.1 days taken the equivalent of 41,828 days of training, averaging 3.1 days per staff member, by Washington, DC-based staff. Average participant training days taken FY19 FY 20 FY 21 GA-GD 3.6 2.5 2.8 GE 4.4 3.7 3.0 GF-GG 6.0 4.0 3.4 GH+ 4.5 2.1 2.1 ETC/ETT 4.0 4.5 3.1 JPA/JPO/SPAS 7.6 6.5 3.5 Average participant training days taken FY19 FY 20 FY 21 Male 4.7 3.2 2.7 Female 5.4 3.8 3.4 In fiscal 2021, investment in staff learning decreased by 19 percent over fiscal delivering learning activities, and 55 percent was spent to cover direct and indi- 2020 levels and by 36 percent over fiscal 2019 levels. The Bank invested $48.8 rect expenses for staff members to participate in learning (given internally and/ million in staff learning, of which 45 percent was spent on developing and or from external providers), including staff time and other costs. 404-3:  PERCENTAGE OF EMPLOYEES RECEIVING REGULAR PERFORMANCE AND CAREER DEVELOPMENT REVIEW The Bank Group performance approach is focused on encouraging regular, qual- are based on the staff member’s performance against stated objectives, addi- ity conversations and feedback between staff and supervisors throughout the tional contributions, strengths, and areas of focus. The year-end conversation year and provides a framework to support staff development and achievement also touches on plans for the upcoming performance cycle, including any pro- of results. The process involves a cycle of setting near-term business and pro- fessional development and training needs. The Performance Management Pro- fessional development objectives, obtaining feedback, check-in conversations, cess is outlined in the Staff Manual, Staff Rule 5.03. and regularly readdressing objectives in support of accomplishing the organi- In fiscal 2021, 95 percent of Bank staff completed fiscal 2020 year-end evalua- zation’s strategic priorities. At least once in a 12-month period, typically at the tions; 82 percent of staff completed fiscal 2021 objectives; 72 percent of staff close of the fiscal year, all staff (excluding short-term appointments) have formal had at least one check-in documented; and 82 percent of staff had at least one feedback discussions with their manager or designated supervisor. Evaluations 59 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES feedback request. There are no obvious deviations per gender and employee the organization a better understanding of the skills of staff and to identify next category; see table below. steps for the staff’s professional development, including targeted learning pro- grams, stretch assignments, or rotations to other business units, as well as read- In addition to the regular performance evaluations, an integrated talent and iness to take on greater responsibilities. performance management approach is undertaken by management to give Report Type Organization Percent Gender Appointment Type Male (%) Female (%) Term (%) Open Ended (%) Fiscal 2020 Bank Group 96% 47% 53% 46% 54% End-year* Bank** 95% 47% 53% 44% 56% Fiscal 2021 Objectives* Bank Group 83% 47% 53% 51% 49% Bank** 82% 47% 53% 47% 53% Fiscal 2021 Check-ins* Bank Group 78% 47% 53% 51% 49% Bank** 72% 48% 52% 46% 54% Fiscal 2021 Ongoing Bank Group 83% 45% 55% 51% 49% Feedback* Bank** 82% 46% 54% 47% 53% Note: There are more females than males at the Bank Group (53 percent and 47 percent, respectively), and the same number of staff on term and open-ap- pointment type (50 percent and 50 percent, respectively). *Includes staff with Active, Letter of Acceptance (LOA), EXP, and EXWP Employment Status. **Includes Global Environmental Facility (GEF), International Bank for Reconstruction and Development (IBRD), and joint units in IBRD and International Finance Corporation (IFC). MANAGEMENT APPROACH: DIVERSITY AND INCLUSION The Bank is committed to creating a workplace where everyone is valued, dif- The Bank recognizes that meeting the demands and needs of its diverse client ferences are respected and celebrated, and opportunity and equitable treat- base more effectively means it must consider a range of ideas and perspectives ment are afforded to all. Ensuring that diversity, equity, and inclusion are to find the best solutions to development challenges. The Articles of Agreement integrated into our daily work means creating a positive culture through prac- for the IRBD Association emphasize the need to “pay due regard to the impor- tices that recognize, value, and harness what makes every individual unique tance of recruiting personnel on as wide a geographical basis as possible” when in the broader sense, and by acknowledging and respecting differences and appointing Bank officers and staff, “subject to the paramount importance of similarities, including nationality, gender and gender identity, race, religion, securing the highest standards of efficiency and of technical competence.” This ethnicity, age, sexual orientation, disability status, and educational back- directive was reiterated in the 1983 Principles of Staff Employment, approved ground. Bank stakeholders have raised this topic as an important corporate by the Executive Directors, to set forth the broad policies according to which priority. the President shall manage staff. These principles direct the Bank to “encourage 60 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES diversity in staffing consistent with the nature and objectives of the Organiza- Index, which sets a goal of gender parity at all grades, based on grade groups tions.” In addition to reflecting the Bank’s global nature, the importance of staff for administrative and clerical staff, entry-level and junior technical staff, senior diversity in enhancing the effectiveness and credibility of the Bank’s institutions technical staff, and managers. The Bank also tracks national diversity, based has been underscored by ongoing reforms to increase the voice and participa- on sub-regional nationality, as an indicative indicator of geographic diversity. tion of emerging markets and developing countries at the Bank. The Bank man- Inclusion targets are derived from staff responses on the annual engagement ages these commitments and directives through an integrated approach that survey, which includes a set of questions comprising the Inclusion Index. The focuses on three pillars: advocacy (demonstrate leadership and build partner- Bank Group Compact, which is signed by the President and his senior team, is ships), accountability (set goals and measure outcomes), and inclusion (embed cascaded through all vice-presidential units. diversity, equity, and inclusion into talent processes and create an inclusive Progress against the compact targets and actions are reported monthly and environment). reviewed quarterly. In addition to the compacts, actions to improve staff percep- The Bank measures the effectiveness of its efforts through Diversity and Inclu- tions on the engagement survey, including the Inclusion Index, are developed sion Compacts, which include diversity and inclusion targets and identify specific and tracked at the vice-presidential unit and at the Bank level. actions to achieve the targets. The diversity targets are based on the Diversity 405-1:  DIVERSITY OF GOVERNANCE BODIES AND EMPLOYEES Executive Directors: Representatives on the Bank Boards of Governors and 25  members of the Board of Executive Directors, seven were women in fiscal Board of Executive Directors are determined by member countries. Of the 2021. For more information about the Boards, see: http://www.worldbank.org/en/about/leadership/directors. (as of June 30, 2021) Women Men Total Number Number Percent of Total Number Percent of Total for Title for Title Executive Director 7 28.00% 18 72.00% 25 Alternate Executive Director 2 9.00% 21 91.00% 23 Senior Advisor 24 42.00% 33 58.00% 57 Advisor 46 43.40% 60 56.60% 106 Total 79 36.74% 132 63.26% 211 Since 1998, the Bank has measured the diversity of its staff based on gender nationality, the Bank focuses on having teams that represent 20 sub-regions and nationality. For gender, the Bank focuses on gender parity at all grades. For globally, based on where and how we do business. 61 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES In fiscal 2021, women accounted for 53.0 percent of all staff, compared to Diversity Profile of the World Bank Group 47.0 percent for men. Full-Time Staff Fiscal 2021 Fiscal 2020 Number Percent of Total Number Percent of Total Age Under 30 331 3% 368 3% 30-50 7,559 60% 7,610 61% 50+ 4,638 37% 4,416 36% Total 12,528 12,394 Indicator Category Target Men (%) Women (%) Administrative and Support Staff 50% 30.2% 69.8% Entry and Junior Technical 50% 44.8% 55.2% Senior Technical 50% 57.8% 42.2% Managers 50% 54.8% 45.2% 405-2:  RATIO OF BASIC SALARY AND REMUNERATION OF WOMEN-TO-MEN To recruit and retain highly qualified staff, the Bank Group has developed a com- markets, including the U.S. The grading system and benchmark job positions pensation and benefits system designed to hire the best talent in the global mar- are unified across the Bank Group and its locations. Bank policies apply to all ket, reward performance, and consider the special needs of a multinational and staff working in its offices globally. Bank salary structures do not differentiate largely expatriate staff. The Executive Directors annually consider a proposal by gender. This methodology was reviewed in fiscal 2018 for headquarters-ap- for a salary increase in line with a Board-approved methodology that entails a pointed staff and in fiscal 2019 for country office-appointed staff. Remuneration market-based approach, which compares compensation paid by private finan- of executive management, Executive Directors, and staff are disclosed in the cial and industrial firms and by public sector organizations in local reference appendixes of the World Bank Annual Report. 62 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES MANAGEMENT APPROACH: NON-DISCRIMINATION The Bank Group core values are impact, integrity, respect, teamwork, and inno- Board vation. Bank Group staff are strongly encouraged to respect everyone within and There is a separate Code of Conduct for Board officials. Business partners are without the institution, nurture, and benefit from individual differences, commit informed of ethics expectations through a separate document. Adherence to to a fair and equitable treatment of all, and prioritize the interests of the Bank high ethical standards is specified in contracts, Board officials, and business Group over personal interests as detailed in the Code of Ethics. partners. Section 1(c) of the Code for Board Officials requires them to sign the Stakeholders, including prospective employees, our shareholders (the Boards), code of conduct document upon assuming duty and deposit it with the Ethics as well as sustainable and impact investors, recognize that the way we man- Committee of the Board. age discrimination, ethical behavior, and adherence to corporate core values is Stakeholders, including prospective employees, shareholders (the Boards), and highly relevant to our business impact. This topic is material within the Bank’s sustainable and impact investors, recognize that the way we manage discrimina- corporate boundary. tion, ethical behavior, and adherence to corporate core values is highly relevant to Staff our business impact. This topic is material within the Bank’s corporate boundary. Staff members are required to uphold Bank Group Staff Rules as a condition of Ethics and Business Conduct (EBC) regularly monitors the level of allegations employment, and adherence to the Code of Ethics is specified in contracts with of misconduct, and the information is part of risk management reporting. employees. All newcomers are required to complete an e-learning course on the The Bank Group Staff Engagement Survey contains questions related to the Code of Ethics and another one on the prevention of sexual harassment and occurrence of harassment and sexual harassment, which are analyzed by EBC harassment. and the Internal Justice Services (IJS). EBC is also implementing root cause analysis at the end of investigations, reviewing the factors that enabled the Due to its immunities from most national courts, the Bank provides staff compre- misconduct to take place. It has extended root cause analysis to advisory hensive grievance mechanisms to address and resolve workplace issues through consultations when the issues raised would require a revision of the rules or informal and formal services. These services encourage collaboration among procedures. staff, provide space for the effective management of conflict, and increase the Bank’s capacity to build and retain a globally representative workforce. 406-1:  INCIDENTS OF DISCRIMINATION AND CORRECTIVE ACTIONS TAKEN During fiscal 2021, over 1,000 cases were brought to the core services of the conflict patterns, and possible hesitations by staff to avail themselves of ser- Internal Justice Services (IJS) and World Bank Administrative Tribunal (WBAT). vices remotely. In fiscal 2020, more than 1,500 cases were raised. This decrease can largely be In fiscal 2021, EBC reviewed 16 allegations of discrimination, which were related attributed to the impact of COVID-19 and the associated remote-work envi- to discrimination based on age, disability, gender, nationality, or race. There ronment. Together, these resulted in shifting staff concerns (as evidenced, is public disclosure of the number of cases investigated and of the resulting for example, by a commensurate increase in the case load for HSD), changing sanctions in EBC’s annual report and on EBC’s internal website on a quarterly basis. The Bank Group’s Task Force on Anti-Racism works on issues related to 63 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES preventing any form of racial discrimination within the Bank Group. EBC is pre- the new function of Anti-Harassment Coordinator (AHC), a position that reviews paring, in cooperation with the task force, a revision of the Code of Ethics to cases of sexual harassment and harassment. The AHC can caution staff and make the prohibition of discrimination and racism more prominent. managers about alleged inappropriate behaviors and to recommend remedi- ation plans, often including the participation by management in remediation In fiscal 2021, IJS put a great deal of focus on advancing the organization’s decisions. Instances of discrimination-based harassment would be either reme- efforts to combat and prevent discrimination. In line with the recommendations diated on that basis or, for more egregious cases, through an investigation into from the Bank Group Task Force on Anti-Racism, a Race Equity Officer (REO) misconduct. In fiscal 2021, the AHC addressed 128 cases of harassment and sex- position has been created within the IJS to promote cultural change and to help ual harassment. staff navigate difficult situations involving race, ethnicity, and discrimination. It is expected the REO will begin taking cases in fiscal 2022. In 2019, EBC created MANAGEMENT APPROACH: CHILD LABOR The Bank recognizes that good working conditions, including the elimination to the borrower. This includes a standalone standard on Labor and Working of child labor are essential to development and to the development objectives Conditions (ESS2). of its investment projects. Stakeholders, including potential employees, share- The objectives of ESS2 are to: holders (the Boards), as well as sustainable and impact investors, recognize this topic to be relevant to our business impact. This topic is material in the Bank’s • Promote safety and health at work; operational boundary. • Promote the fair treatment and non-discrimination of, and equal oppor- All standard Bank bidding documents contain a clause prohibiting the use of tunity for, project workers; child or forced labor in contracts financed under any Bank projects. Staff work- • Protect project workers, including vulnerable workers such as women, ing on Bank-financed operations are required to assess environmental and persons with disabilities, and children (of working age), as well as migrant social issues, such as child labor, and the specific measures that are to be imple- workers, contracted workers, community workers, and primary supply mented to mitigate these risks. Under the ESF, the Bank classifies all investment workers, as appropriate; projects into one of four classifications: High, Substantial, Moderate, or Low Risk. In determining the appropriate risk classification, the Bank will take into • Prevent the use of all forms of forced labor and child labor; account relevant issues, such as the type, location, sensitivity, and scale of the • Support the principles of freedom of association and collective bargain- project; the nature and magnitude of the potential environmental and social ing of project workers in a manner consistent with national law; and risks and impacts; and the capacity and commitment of the borrower (includ- ing any other entity responsible for implementation of the project) to manage • Provide project workers with accessible means to raise workplace the environmental and social risks and impacts in a manner consistent with the concerns. Environmental and Social Standards (ESSs) of the ESF. The ESF includes a standard containing specific requirements relating to the prevention of child labor. The specific ESS2 provision on child labor is: The ESF includes a Vision Statement for Sustainable Development, an Envi- ronmental and Social Policy for Investment Project Financing (IPF), which • A child under the minimum age established in accordance with this para- applies to the Bank, and 10 Environmental and Social Standards, which apply graph will not be employed or engaged in connection with the project. 64 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES • The labor management procedures will specify the minimum age for and stakeholders at large. It is independent of the management of the Bank employment or engagement in connection with the project, which will be Group and reports directly to the Executive Board. More details can be found at: the age of 14 unless national law specifies a higher age. https://ieg.worldbankgroup.org/. • A child over the minimum age and under the age of 18 may be employed The Bank’s Group Internal Audit Vice-Presidency (GIA) is an independent, objec- or engaged in connection with the project only under specific conditions. tive assurance and consulting activity that helps improve Bank Group opera- An appropriate risk assessment is conducted prior to the work commenc- tions. It assists the institution in accomplishing its objectives by evaluating the ing; and the borrower conducts regular monitoring of health, working effectiveness of Bank Group governance, risk management, and control pro- conditions, hours of work, and the other requirements of this ESS. cesses. Furthermore, IAD advises management in developing control solutions and monitors the implementation of management’s corrective actions. IAD’s • A child over the minimum age and under the age of 18 will not be work is carried out in accordance with the Institute of Internal Auditors (IIA) employed or engaged in connection with the project in a manner that International Professional Practices Framework. More details can be found at: is likely to be hazardous or interfere with the child’s education or be http://www.worldbank.org/en/about/unit/internal-audit-vice-presidency. harmful to the child’s health or physical, mental, spiritual, moral, or social development. The Accountability Mechanism (AM) was established by the Bank’s Board of All investment projects applying the ESF are required to have a project-level Directors in 2020. It is independent from Bank management and reports directly grievance mechanism (GM). GMs provide project-affected parties with acces- to the Board. The AM houses both the Inspection Panel (IPN) and the Dispute sible and inclusive means to raise issues and grievances, and they allow bor- Resolution Service (DRS), which was also created in 2020. The IPN is the Board’s rowers to respond to and manage such grievances. The grievance mechanism is fact-finding body that carries out investigations into whether the Bank has proportionate to the potential risks and impacts of the project and is accessible complied with its policies and procedures if authorized by the Board. The DRS and inclusive. is mandated to facilitate a dispute resolution process between affected parties and the project authorities to resolve the matters of concern, if they so wish, The Bank’s Grievance Redress Service (GRS) provides an additional, accessible in lieu of a compliance investigation. The AM is headed by a secretary, who is way for individuals and communities to submit complaints directly to the Bank tasked with overseeing the processing of complaints, which may be addressed if they believe that a Bank-supported project has or is likely to have adverse through a compliance investigation carried out by the IPN, or a dispute resolu- effects on them, their community, or their environment. The GRS enhances the tion process facilitated by the DRS. The AM provides an avenue for individuals Bank’s responsiveness and accountability to project-affected communities by and communities who believe that they have been or are likely to be harmed by ensuring that grievances are promptly reviewed and addressed. More details a project funded by the International Bank for Reconstruction and Development can be found at: http://www.worldbank.org/grs. (IBRD) or the International Development Association (IDA) to express and have The Independent Evaluation Group (IEG) evaluates the development effec- their concerns reviewed and addressed. It aims to promote accountability at the tiveness of the Bank Group. Its work provides evaluative evidence to help the Bank, give people affected by activities supported by the Bank a greater voice, Bank Group deliver better services and results to its clients. IEG does so by and foster redress by the borrower when warranted. More details can be found generating lessons from past experience and accountability to shareholders at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx. 65 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 408-1:  OPERATIONS AND SUPPLIERS CONSIDERED TO HAVE SIGNIFICANT RISK FOR INCIDENTS OF CHILD LABOR The Bank recognizes that in certain sectors (for example, agriculture and min- appropriate steps to remedy them. Where the supplier does not remedy the ing) and geographical locations, the prevalence and risk of child labor are more situation, the contractor shall, within a reasonable period, substitute the sup- pronounced. This risk metric is accounted for when the Bank screens proposed plier with a supplier that is able to manage such risks. The borrower is required projects to determine the appropriate extent and type of environmental and to ensure that the standards of the primary suppliers on child labor adhere to social analysis to be undertaken by the borrower during project preparation. national law and are in line with ESS2 requirements. Additionally, in higher value It is also accounted for in determining the project’s risk classification, where the procurements, the Bank’s Standard Procurement Documents require for large Bank will consider different risks associated with project activities. Risk clas- works contracts, bidders must submit a formal declaration disclosing their past sification of a project considers the type, location, sensitivity, and scale of the environmental and social performance. The declaration relates to any breach of project; the nature and magnitude of the potential environmental and social environmental and social requirements resulting in a civil works contract being risks and impacts; and the capacity and commitment of the borrower (including suspended or terminated or performance security being called in. The borrower any other entity responsible for the implementation of the project) to manage can use this information to inform further due diligence. If a bidder misrep- the environmental and social risks and impacts in a manner consistent with the resents the facts or misses out an important fact, they can be disqualified from ESSs of the ESF. These requirements inform project design and the specific mea- the bidding process and may be subject to the Bank’s sanctions regime. sures that the borrower will implement to mitigate potential child labor risks. Avenues for Bank engagement on child labor included analytical work focus- Where potential risks of child labor require project-specific mitigation mea- ing on developing an understanding of child labor issues; project-level social sures, these measures will be addressed in labor management procedures and risk management in lending operations; and activities/components embedded the Environmental and Social Commitment Plan (ESCP). in advisory and lending operations and programs to support client countries in The Bank supervises all projects on a regular basis and requires the borrower to addressing child labor challenges. The Bank has implemented or participated report on the implementation of mitigation measures. in enhanced third-party monitoring and feedback mechanisms to mitigate child labor risk in selected projects in its portfolio, in countries and sectors where child Under the ESF, the prohibition of child labor applies to all procurements financed labor is more prevalent. Work has also been carried out during the reporting by the Bank. For lower value procurements, the Bank’s Procurement Regula- period to further strengthen the link between the ESF and the Bank’s Procure- tions for IPF Borrowers requires that the borrower’s “Procurement Documents ment Policy. The relationship between these two policy areas is important; pro- include sufficient provisions, as agreed with the Bank, to adequately mitigate curement is a key ESF delivery mechanism, as many environmental and social against environmental and social (including sexual exploitation and abuse/sex- issues need to be addressed by contractors, subcontractors, and primary suppli- ual harassment (SEA/SH)), risks and impacts” (Procurement Regulations for IPF ers. Done properly, the procurement process includes minimum requirements for Borrowers, November 2020, Section V, 5.4 (d)). For higher value procurements, bidders, creates the contractor’s legal obligations to manage specified ESF risks the Bank’s Standard Procurement Documents (SPDs) include specific clauses on and sets out borrower remedies if the contractor does not meet its obligations. child labor prevention reflecting the ESF. The prohibition of child labor applies to The Bank revised the Standard Procurement Document (SPD) for large works by the contractor, sub-contractor and any other suppliers. For example, Request for incorporating ESF provisions into the conditions of contract of the SPD. This is Bids Works, January 2021, Clause 4.24.2 Child Labor: The contractor shall take designed to make the work of task teams easier, in that the relevant ESF require- measures to require its suppliers (other than sub-contractors) not to employ ments are now included in the Bank’s standard procurement documentation. The or engage child labor as described in Sub-Clause 6.22. If child labor cases are child labor provision reflects ESS2 requirements on child labor as applicable to identified, the contractor shall take measures to require the suppliers to take 66 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES contractors, subcontractors, and suppliers. Training and the sharing of resources The Bank is continuing to feed the results from these lessons learned into dia- are continuing to enhance staff and client knowledge and understanding of pro- logue with partners at international, regional, and national levels and into curement-related procedures. Labor management procedures developed by concrete design decisions for new Bank operations. In parallel, several regions borrowers specify relevant child labor requirements for projects with the risks of within the Bank Group have been undertaking reviews of labor legislation and child labor, such as the minimum age for employment, the process to be followed practice through the drafting of country labor profiles, including reports on child to verify the age of project workers, the procedures to be followed if underage labor policy and prevalence. workers are found working on the project, and the procedure for conducting risk assessments for workers aged between the minimum age and 18. MANAGEMENT APPROACH DISCLOSURES: FORCED OR COMPULSORY LABOR The Bank recognizes the importance of employment creation and income • Promote safety and health at work; generation in the pursuit of economic growth. Borrowers can promote sound • Promote the fair treatment and non-discrimination of, and equal oppor- worker–management relationships, enhance the development benefits in the tunity for project workers; to protect project workers, including vulnerable project fairly, and provide safe and healthy working conditions. Stakeholders, workers such as women, persons with disabilities, children (of working age, who include potential employees, shareholders (the Boards), and sustainable in accordance with this ESS), and direct workers, contracted workers, com- business and impact investors, recognize this topic to be relevant to the Bank’s ­ munity workers, and primary supply workers, as appropriate; impact. This topic is material within the Bank’s operational boundaries. • Prevent the use of all forms of forced labor and child labor; to support the Under the Environmental and Social Framework (ESF), the Bank classifies all principles of freedom of association and collective bargaining of project investment projects into one of four risk categories: high, substantial, moderate, workers in a manner consistent with national law; and or low risk. In determining the appropriate risk classification, the Bank will take into account relevant issues, such as the type, location, sensitivity, and scale of • Provide project workers with accessible means to raise workplace concerns. the project; the nature and magnitude of the potential environmental and social The specific ESS2 provision on forced labor is the following: “Forced labor, which risks and impacts; and the capacity and commitment of the borrower (including consists of any work or service not voluntarily performed that is exacted from any other entity responsible for the implementation of the project) to manage an individual under threat of force or penalty, will not be used in connection the environmental and social risks and impacts in a manner consistent with the with the project. This prohibition covers any kind of involuntary or compulsory ESSs of the ESF. labor, such as indentured labor, contracted labor, or similar labor-contracting arrangements. No trafficked persons will be employed in connection with the More information on the ESF can be found at: https://www.worldbank.org/en/ project.” The Environmental and Social Assessment process evaluates a proj- projects-operations/environmental-and-social-framework. ect’s potential environmental risks and impacts in its area of influence; exam- The ESF includes a Vision Statement for Sustainable Development, an Environ- ines project alternatives; identifies ways of improving project selection, siting, mental and Social Policy for IPF (which applies to the Bank), and 10 Environ- planning, design, and implementation by preventing, minimizing, mitigating, mental and Social Standards (which apply to the borrower). This includes a or compensating for adverse environmental and social impacts and enhancing standalone standard on Labor and Working Conditions (ESS2). The objectives positive impacts; and includes the process of mitigating and managing adverse of ESS2 are to: environmental impacts throughout project implementation. 67 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 409-1 :  OPERATIONS AND SUPPLIERS CONSIDERED TO HAVE SIGNIFICANT RISK FOR INCIDENTS OF FORCED OR COMPULSORY LABOR The ESF requires an assessment of labor risks associated with a proposed proj- The declaration relates to any breach of environmental and social requirements ect, which include the risks associated with forced or compulsory labor. The ESS resulting in a civil works contract being suspended or terminated or perfor- on Labor and Working Conditions (ESS2) contain a prohibition on forced labor mance security being called in. The borrower can use this information to inform together with a description of what forced labor may entail. Where a project has further due diligence. If a bidder misrepresents the facts or leaves out an import- risk of forced labor, the Bank requires the borrower to design specific mitigation ant fact, they can be disqualified from the bidding process and may be subject measures to address those risks. Where potential risks of forced labor require to the Bank’s sanctions regime. project specific mitigation measures, these will be addressed in labor manage- Avenues for Bank engagement on forced labor included project-level social risk ment procedures and the ESCP. management in lending operations and activities/components embedded in The Bank supervises all projects on a regular basis and requires the borrower advisory and lending operations and programs to support client countries in to report on the implementation of mitigation measures. Under the ESF, the addressing forced labor challenges. Work was also done during the reporting prohibition of forced labor applies to all procurements financed by the Bank. period to further strengthen the link between the ESF and the Bank’s Procure- For lower value procurements, the Bank’s Procurement Regulations for IPF Bor- ment Policy. The relationship between these is important; procurement is a key rowers requires that the borrower’s “Procurement Documents include sufficient ESF delivery mechanism, as many environmental and social issues need to be provisions, as agreed with the Bank, to adequately mitigate against environ- addressed by contractors, subcontractors, and primary suppliers. Done prop- mental and social (including SEA/SH), risks and impacts” (Procurement Regu- erly, the procurement process includes minimum requirements for bidders, cre- lations for IPF Borrowers, November 2020, Section V, 5.4 (d)); For higher value ates the contractor’s legal obligations to manage specified ESF risks, and sets procurements, the Bank’s Standard Procurement Documents (SPDs) include out borrower remedies if the contractor does not meet its obligations. The Bank specific clauses on forced labor prevention reflecting the ESF. The prohibition revised the Standard Procurement Document (SPD) for large works by incorpo- of forced labor applies to the contractor, subcontractor and any other suppliers. rating ESF provisions into the contract conditions of the SPD. This is designed to For example, Request for Bids Works, January 2021, Clause 4.24.1 Forced Labor: make the work of task teams easier, in that the relevant ESF requirements are now included in the Bank’s standard procurement documentation. “The Contractor shall take measures to require its suppliers [other than Subcontractors] not to employ or engage forced labor including trafficked The forced labor provision reflects ESS2 requirements on forced labor as appli- persons as described in Sub-Clause 6.21. If forced labor/trafficking cases cable to contractors, subcontractors, and suppliers. Training and the sharing are identified, the Contractor shall take measures to require the suppli- of resources are continuing to enhance staff and client knowledge and under- ers to take appropriate steps to remedy them. Where the supplier does standing of procurement-related procedures. Labor management procedures not remedy the situation, the Contractor shall within a reasonable period developed by borrowers specify relevant forced labor requirements for proj- substitute the supplier with a supplier that is able to manage such risks.”) ects with the risks of forced labor. The Bank is continuing to feed the results from these lessons learned into dialogue with partners at the international, The borrower is required to ensure that the standards of the primary suppliers regional, and national levels and into concrete design decisions for new Bank on forced labor adhere to national law and are in line with ESS2 requirements. operations. In parallel, several regions within the Bank Group have been under- Additionally, in higher value procurements, the Bank’s Standard Procurement taking reviews of labor legislation and practice through the drafting of country Documents require that for large works contracts, bidders must submit a for- labor profiles. mal declaration disclosing their past environmental and social performance. 68 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES MANAGEMENT APPROACH: RIGHTS OF INDIGENOUS PEOPLES Central to the Bank’s mission of reducing poverty and promoting shared pros- consult with them, and ensure that they participate in and benefit from Bank- perity in a sustainable manner is ensuring that the development process fully funded operations in a culturally appropriate way. It also emphasizes that respects the dignity, economies, and cultures of Indigenous Peoples. The Bank adverse impacts on them are avoided or, where not feasible, minimized or mit- recognizes that the identities and cultures of Indigenous Peoples are inextrica- igated. For all projects that are proposed for Bank financing and are applying bly linked to the lands on which they live and the natural resources on which the Safeguard Policies, and involve Indigenous Peoples, the Bank requires the they depend. These distinct circumstances expose Indigenous Peoples to dif- borrower to engage in a process of free, prior, and informed consultation. The ferent types of risks and levels of impacts from development projects, including Bank provides project financing only where there is broad community support loss of identity, culture, and customary livelihoods. Gender and intergener- for the project by the affected Indigenous Peoples. ational issues among Indigenous Peoples are also complex. As social groups The ESF advances the Bank’s existing Indigenous Peoples policy by including with identities that are often distinct from dominant groups in their national Free, Prior, and Informed Consent (FPIC) and by addressing peoples in voluntary societies, Indigenous Peoples are frequently among the most marginalized and isolation, as well as pastoralists. FPIC is a specific right that recognizes Indige- vulnerable segments of the population. As a result, their economic, social, and nous Peoples’ right to self-determination over decisions affecting them or their legal status often limits their capacity to defend their interests in and rights to territories. This provision is well harmonized with those of other international lands, territories, and other productive resources, or restricts their ability to par- financial institutions. The review of the Bank’s Safeguard Policies, which led to ticipate in and benefit from development. At the same time, the Bank recognizes the development of the ESF, included a global dialogue and engagement pro- that Indigenous Peoples play a vital role in sustainable development and that cess with Indigenous Peoples that sought to incorporate Indigenous Peoples in their rights are increasingly being addressed under both domestic and interna- the review, as well as to strengthen Bank support to and engagement with Indig- tional law. enous Peoples more generally. The consultations on the framework included Stakeholders, including shareholders (the Boards), borrowers, staff, and civil several dedicated Indigenous Peoples dialogue sessions, which yielded import- society, and sustainable and impact investors, recognize this topic to be rel- ant results in terms of participation, information gathered, and the beginning of evant to our business impact. This topic is material in the Bank’s operational a renewed and stronger relationship with Indigenous Peoples. boundary. The ESF includes a Vision Statement for Sustainable Development, an Environ- The Safeguards are the Bank’s previous Operational Policies for environmental mental and Social Policy for IPF (which applies to the Bank), and 10 ESS (which and social risk management, while the ESF is the new system as of October 1, apply to the borrower). ESS 7 on Indigenous Peoples/Sub-Saharan African His- 2018. All investment projects with Concept Note meetings on or after October torically Underserved Traditional Local Communities adopts the principle of 1, 2018, apply the ESF, while all IPFs with concept note reviews held before that FPIC in projects affecting Indigenous Peoples’ territories, natural resources, or date will continue to apply the Safeguards Policies. Given the Bank project cycle, cultural heritage or requiring involuntary resettlement. ESS7 also provides fur- the two systems are expected to run in parallel for several years. ther guidance on Indigenous Peoples in urban areas and Indigenous Peoples living in voluntary isolation. The World Bank Safeguards Policy on Indigenous Peoples (OP/BP 4.10) under- scores the need for borrowers and Bank staff to identify Indigenous Peoples, 69 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 411-1:  INCIDENTS OF VIOLATIONS INVOLVING RIGHTS OF INDIGENOUS PEOPLES In fiscal 2021, two requests for inspection raised issues that involved allegations 2. Kenya: Kenya Climate Smart Agriculture Project and Kenya Urban Support of non-compliance with the Bank’s Indigenous Peoples policy. These requests Program (Request not registered by the Panel). were regarding the following projects: For more information, see case updates on the Inspection Panel website. 1. India: Rural Water Supply and Sanitation Project for Low Income States (Investigation); and MANAGEMENT APPROACH: HUMAN RIGHTS Human rights principles that are essential for sustainable development, such governance, empowerment, participation, and inclusion. These principles are as non-discrimination, meaningful consultation, effective public participation, reflected in all projects the Bank finances. Given the scope of the ESF, the Bank property rights, accountability, transparency and good governance, are consis- believes that its application in projects will support borrowers in achieving their tently applied in the Bank’s work to end poverty and boost shared prosperity. human rights commitments. Stakeholders, including shareholders (the Boards), borrowers, staff, and civil Supporting human rights through Bank-supported projects is supported by a society, as well as sustainable and impact investors, recognize this topic to be range of guidance, including Good Practice Notes on Gender, Non-Discrimina- relevant to our business impact. This topic is material within the Bank’s opera- tion, and Disability; Non-Discrimination, Sexual Orientation, and Gender tional boundary. Identity; and Addressing Racial Discrimination. The Bank recognizes the importance of human rights principles in development: transparency, accountability, non-discrimination, equality of opportunity, 412-1:  OPERATIONS THAT HAVE BEEN SUBJECT TO HUMAN RIGHTS REVIEWS OR IMPACT ASSESSMENTS, BY COUNTRY The Bank does not conduct human rights reviews or human rights impact whether the project may involve the application of different Safeguard Policies. assessments. However, all Bank projects are appraised in accordance with the For projects applying the ESF, all 10 of the Environmental and Social Standards requirements of the Bank’s policies to protect the environment and people (ESSs) apply, though they will have varying levels of relevance depending on the potentially affected by Bank-financed operations. The Bank screens each pro- nature of the project. Environmental and social risk management, including risk posed project to determine the appropriate extent and type of environmental mitigation measures, are also referenced in the project’s legal agreement, and and social analysis to be undertaken during project preparation. For projects therefore are part of the contract with the borrower. For details on projects, see: applying the Safeguard Policies, this process includes a determination of and http://projects.worldbank.org. 70 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES 412-2:  TRAINING ON HUMAN RIGHTS POLICIES OR PROCEDURES CONCERNING ASPECTS OF HUMAN RIGHTS THAT ARE RELEVANT TO OPERATIONS The Bank’s environmental and social safeguard policies are a cornerstone of concept review before October 1, 2018, applies the previous Safeguard Policies. its support for sustainable development and poverty reduction. Their objec- To build staff capacity on the new ESF, an Internal Capacity Building Program tive is to prevent and mitigate undue harm to people and their environment in was launched in November 2017. In fiscal 2021, about 1,050 staff took part in ESF the development process. The Safeguard Policies and ESF trainings cover two fundamentals training; 58 learning sessions and clinics on specific ESF topics different systems and have two separate curricula and course requirements. were also held, with about 5,300 participants. Given the COVID-19 pandemic, Given the Bank project cycle, the two systems are expected to run in parallel for these training sessions and clinics were virtual in fiscal 2021. several years. All new projects come under the ESF, but any project that had a 412-3:  SIGNIFICANT INVESTMENT AGREEMENTS AND CONTRACTS THAT INCLUDE HUMAN RIGHTS CLAUSES OR THAT UNDERWENT HUMAN RIGHTS SCREENING Environmental and social risk management are part of the contract with the to above. The Bank does not include human rights clauses in its financing agree- borrower. Risk management incorporates the human rights principles referred ments and does not screen contracts for human rights. MANAGEMENT APPROACH: ENVIRONMENTAL AND SOCIAL IMPACT ON LOCAL COMMUNITIES The Bank screens all projects proposed for financing to determine the nature and in a timely, understandable, accessible, and appropriate manner. Engagement extent of potential impacts on communities and the environment. Stakeholders, is proportionate to the nature, scale, risks, and impacts of the project, and including shareholders (the Boards), borrowers, staff, and civil society, as well appropriate to stakeholders’ interests. A Stakeholder Engagement Plan (SEP) is as sustainable and impact investors, recognize this topic to be relevant to our required for every project and is prepared by the borrower. business impact. The topic is material within the Bank’s operational boundaries. For investment projects with Concept Review prior to October 1, 2018, the Safe- The ESF enhances requirements for stakeholder engagement. ESS1 of the guard Policies apply. For these projects, if it is considered that a project will have ESF covers Assessment and Management of Environmental and Social Risks, adverse impacts on a community, the borrower must carry out an environmen- while ESS10 relates specifically to Stakeholder Engagement, covering both the tal and social impact assessment. This impact assessment will consider gender preparation and implementation of the project. ESS10 establishes a systematic issues as part of its social analysis. The borrower is required to consult on envi- approach to stakeholder engagement that helps borrowers identify stakehold- ronmental and social impacts and mitigation measures with the communities ers and maintain a constructive relationship with them. Borrowers must assess affected by the project. For meaningful consultations between the borrower and stakeholder interest and support for the project and enable stakeholders’ views project-affected groups and local NGOs, the borrower is required to provide rel- to be taken into account in project design, provide means for effective and inclu- evant material in a timely manner prior to consultation, in a form and language sive engagement with project-affected parties throughout the project life-cycle, that are understandable and accessible to the groups being consulted. For proj- and ensure that appropriate project information is disclosed to stakeholders ects with significant risks (categories A and B under the previous safeguards 71 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES system), the Bank discloses the environmental and social assessment. The bor- Given the significant impact of COVID-19 on communities, the Bank moved rower is required to establish a project-level grievance redress mechanism for all quickly to provide support to developing countries to address the potential projects with adverse impacts. The Environmental and Social Assessment pro- health, economic, social, and environmental impacts of the pandemic. Given cess evaluates a project’s potential environmental risks and impacts in its area the complexity of the environmental, health, social, worker, and community of influence; examines project alternatives; identifies ways of improving project risks associated with COVID-19, new guidance for staff and borrowers was issued selection, siting, planning, design, and implementation by preventing, minimiz- addressing different aspects of the emergency response, including medical ing, mitigating, or compensating for adverse environmental and social impacts waste management, use of military/security forces, stakeholder engagement, and enhancing positive impacts; and includes the process of mitigating and and labor management procedures. managing adverse environmental impacts throughout project implementation. 413-1:  PERCENTAGE WITH LOCAL COMMUNITY ENGAGEMENT, IMPACT ASSESSMENTS, AND DEVELOPMENT PROGRAMS Every Bank investment project requires engagement with the local community. 413-2:  OPERATIONS WITH SIGNIFICANT ACTUAL AND POTENTIAL NEGATIVE IMPACTS ON LOCAL COMMUNITIES The Bank recognizes that in certain sectors (for example, mining, dams) and with climate change. The ESF introduces a new standard that deals specifically geographical locations, the potential negative impacts on communities are with community health and safety (ESS4) and other issues such as infrastructure more pronounced. The ESF requires the environmental and social assessment design and safety, traffic and road safety, health and security issues, manage- to look at a range of different risks and impacts that could affect local com- ment of hazardous material, and emergency preparedness and response. The munities, including impacts on ecosystem services, threats to human security, intention of the standards is that the design and mitigation measures for the impacts arising from changes to land use and tenure, and impacts associated project should address risks to the community. MANAGEMENT APPROACH: CUSTOMER PRIVACY Within the Bank Group, personal data has demonstrated potential to fuel On May 24, 2018, the Boards of Executive Directors of the International Board of operational innovation through novel financial technologies and the design Reconstruction and Development (IBRD), the International Development Asso- and delivery of development programs. Personal data, especially when ciation (IDA), the International Finance Corporation (IFC), and the Multilateral paired with technology, have expanded the frontiers of development, pro- Investment Guarantee Agency (MIGA) and the Secretary-General of International viding more comprehensive statistics that inform policy decisions and Centre for Settlement of Investment Disputes (ICSID) issued the World Bank accelerate individuals’ access to knowledge, social connectivity, and citizen Group Policy on Personal Data Privacy (the “Privacy Policy”). The Privacy Pol- engagement. icy sets out the core principles governing personal data processed by the Bank 72 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES Group: (i) legitimate, fair, and transparent processing; (ii) purpose limitation and The Privacy Policy requires each Bank Group institution to provide individuals data minimization; (iii) data accuracy; (iv) storage limitation; (v) data security; with mechanisms (i) to request information about their personal data processed (vi) transfer of personal data; and (vii) accountability and review.  The Privacy by such institution and (ii) to seek redress if there is a reasonable belief that Policy became applicable on February 1, 2021. their personal data are being processed in violation of the Privacy Policy. These mechanisms enter into effect on October 1, 2021. 73 WORLD BANK GRI INDEX 2021 SOCIAL DISCLOSURES  : :  GRI 400  SOCIAL STANDARDS SERIES