Miscellaneous Knowledge Notes

664 items available

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https://hdl.handle.net/10986/9388

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Closing the Gender Leadership Gap: CRDB - Investing In Women To Increase Competitiveness
(Washington, DC, 2022-03) International Finance Corporation
There is a strong business case for attracting and retaining more women in the financial sector from the board to the workforce. Women contribute to enhanced profitability, innovation, and risk management. Over the course of two decades, numerous studies have been undertaken by investors, corporate governance organizations, consultants, and financial institutions all over the world, which have found “a positive association between board diversity and company performance, investor protection, and/or enhanced decision making” (Zecca 2021). In April 2019, CRDB, a longstanding IFC investment and advisory client, joined the IFC-led Finance2Equal initiative. The program aims to increase women’s participation in the financial sector as leaders, employees, customers, and entrepreneurs, by expanding women’s access to financial services and strengthening career opportunities. Under the initiative, IFC and CRDB co-sponsored a training program to help the bank reduce its gender gap in leadership by preparing women for senior positions. The objective of the training was to enhance CRDB’s pipeline of future women leaders. This training was designed to encourage more women to apply for senior roles at CRDB, and in Tanzania’s financial sector, as a whole (IFC 2020).
The Business Case for Investing in Women’s Employment in Iraq: Company Insight - Ashur International Bank for Investment - Advancing Women in Business Leadership & Management Banking/ Financial Sector, Iraq
(World Bank, Washington, DC, 2022) International Finance Corporation; World Bank
In Iraq, women are generally absent from senior management and leadership positions, with an estimated representation of just 1 percent - even lower than the regional average. Women also account for more than half of the financial sector’s workforce, owing in part to government directives to appoint more females within Iraqi banks. In 2018, with International Finance Corporation (IFC) assistance, the Central Bank of Iraq required that every Iraqi bank’s board of directors should include at least one woman. Many private banks in Iraq are currently developing modern banking practices, with several of them prioritizing gender diversity in leadership positions. This company insight explores the experience of one such Iraqi bank, Ashur International Bank for Investment (Ashur Bank), which has been a pioneer for private banks in recruiting and promoting women to management positions. In Ashur Bank’s experience, these policies have improved the company’s performance, driven economic growth and profitability, and improved innovation. The sample size however is not statistically significant and cannot be used to draw definite conclusions but rather provides anecdotal evidence on the topic of this study.
The Business Case for Investing in Women’s Employment in Iraq - Company Insight, Nafith Logistics Co.: Supporting Women in Non-Traditional Roles
(World Bank, Washington, DC, 2022) International Finance Corporation; World Bank
This is the first of a three-part company insight under the MGF to highlight forward-thinking companies and inspire other businesses to design more gender-aware environments based on models that work. It offers a closer look into Nafith Logistics, a logistics service provider that aims to streamline cargo transport connecting the hinterland to the ports in Iraq. It showcases how supporting women in non-traditional roles improves staff retention, attendance rates and innovation at the workplace.
Leadership Training Toolkit for State-Owned Enterprises (SOEs): Boards and Owners
(Washington, DC: World Bank, 2021-06-30) World Bank; International Finance Corporation
The Leadership Training Toolkit for State-Owned Enterprises (‘SOE Leadership Toolkit’) was developed jointly by the World Bank and IFC (World Bank Group) to support countries’ efforts to build capacity of State ownership entities, SOE boards, and SOE senior management. It addresses the growing need for curricula specifically adapted for SOEs, considering the significant role and impact of SOEs on public finances, the economy and delivery of public services. The SOE Leadership Toolkit is a global public good that can be used by different training providers, such as government training institutions, Institutes of Directors, corporate governance and ESG associations, and professional bodies or universities. It is designed to: • Advance corporate governance reforms by instilling in participants leadership values that can help them work within their companies or organizations to adopt the best practices • Foster a common understanding between state ownership and oversight entities and SOE leadership, by raising awareness of the respective roles and perspectives • Provide flexibility through a modular curriculum that allows a country and training institution to easily tailor programs to suit their specific context and target audience • Engage executive learners through experiential learning and interactive exercises, based on internationally recognized good practices and global priorities such as climate change and gender • Minimize training providers’ investment of time and resources for curriculum development by providing a comprehensive, standardized curriculum that includes handouts, and case studies The 15 training modules are structured in four parts. Each module includes specific topics, case studies and exercises. Cutting across these modules are four themes assuming an important place in today’s corporate governance landscape: 1) gender and diversity, 2) climate risk and resilience, 3) Maximizing Finance for Development, 4) corruption and integrity.
Seeds of Success: Stories of IFC’s Work to Improve the Lives of Women in Agribusiness Value Chains
(Washington, DC, 2019) International Finance Corporation
According to the e Food and Agriculture Organization (FAO), women make up on average forty-three percent of the agricultural workforce in developing countries. Female participation in value chains is critical, yet they still face gender-specific constraints and challenges in owning, accessing, and controlling resources that affect their productivity, livelihood, and income. These are stories of collaboration, gender advancement, and women empowerment. IFC believes in creating and implementing Gender-Smart Solutions to close gender gaps in the sector, thus increasing agricultural yields and revenues, improving wages, and helping women expand to new, favorable markets.
What We Learned about Corporate Governance and Code Development in Sub-Saharan Africa
(International Finance Corporation, Washington, DC, 2018-05) International Finance Corporation
This document is a high-level account of discussions held and conclusions reached during theroadshow. It describes 10 learnings attained over the more than two decades of experience in code development in South Africa. Under each of these learnings, we present the South African experience as well as experiences shared in the various countries where the roadshow was conducted. The purpose of this document is to provide guidance to IFC staff, regulators, and private institutions (such as institutes for directors and corporate governance) for developing codes of corporate governance in Sub-Saharan African countries and potentially other developing economies. The objective is for the insights shared in this document to support achievement of the following results: a more effective process of code development, code content that will be easier for organizations to implement, a higher degree of commitment by the users of the code and good governance that will result in better outcomes for organizations as well as the communities and countries in which they operate. This guidance document should be read in conjunction with the IFC Toolkit for Developing Corporate Governance Codes of Best Practice. Before sharing the learnings, it is important to understand the context for the application of corporate governance in Africa. This will provide perspective on why some of the learnings are vital. Organizations—the users of codes of corporate governance—operate in a broader context, which King IV calls the “triple context,” consisting of the economy, society, and natural environment in which organizations operate. In Africa, depending on the country, the triple context may appear as economic and political instability, lack of or failing infrastructure, skills shortage, inequality, water and food scarcity due to environmental vulnerability, and corruption. Furthermore, the application of corporate governance is not mature in all African countries. An IFC study on the link between governance and corporate performance examined the degree of African firms’ adherence to certain aspects of corporate governance. If those foundations are weak, it is unlikely that other areas of corporate governance could be strong. However, it is encouraging that, taken together, the firms scored above 50 percent on all five of the dimensions assessed. Organizations in Africa operate in a challenging triple context, and much work must be done to gain maturity in the corporate governance practices they follow. Codes for corporate governance should be cognizant of these realities.
Corporate Governance: The Foundation for Corporate Citizenship and Sustainable Businesses
(Washington, DC, 2017-01) International Finance Corporation; UN Global Compact
Corporate citizenship - a commitment to ethical behavior in business strategy, operations, and culture - has been on the periphery of corporate governance and board leadership, linked mainly to corporate reputation. However, in today’s globalized and interconnected world, investors, creditors, and other stakeholders have come to recognize that environmental, social, and governance responsibilities of a company are integral to its performance and long-term sustainability. Today, these concerns help determine profits. For companies to operate successfully and sustain growth, boards must incorporate these new dimensions into their core decision making processes. The global financial crisis has heightened the need for corporate boards of directors to provide well-informed strategic direction and engaged oversight that stretches beyond short-term financial performance. A new vision of business is emerging - one where a set of core values, encompassing human rights, environmental protection, and anti-corruption measures, guide the board’s oversight, relationship with management, and accountability to shareowners. Good corporate governance is the glue that holds together responsible business practices, which ensures positive workplace management, marketplace responsibility, environmental stewardship, community engagement, and sustained financial performance. For more publications on IFC Sustainability please visit www.ifc.org/sustainabilitypublications.
BM and FBOVESPA Sustainability Index and the Responsible Practices of Brazilian Corporations: Issue Brief
(Washington, DC, 2017-01) International Finance Corporation
BM and FBOVESPA, Latin America’s leading exchange in number of transactions and one of the world’s largest in market value, created the corporate sustainability index (ISE índice de sustentabilidade empresarial) in 2005 with financial support from the International Finance Corporation (IFC). The ISE was designed to create an efficient investment mechanism to group companies with superior performance that manage environmental, social, and governance risks and opportunities. The ISE served as a reference guide for initiation of sustainability practices as well as for their continuous improvement. The firms that have been in the index (for some time or since its inception) report valuable benefits in terms of improved sustainability practices, better reputation, and, to some extent, positive impacts on their stock price, access to capital, and liquidity in the stock market. The ISE supported a rapid move to sustainable practices among listed firms, with most relatively large companies with liquid stocks eager to participate. As experience has been gained, the requirements for membership have been tightened, and fewer firms have been applying. IFC’s strategy in Brazil focuses on promoting access to finance and developing capital markets to reach low-income individuals, microenterprises, and small businesses. For more publications on IFC Sustainability please visit www.ifc.org/sustainabilitypublications.
Promoting Networks for Institutes of Directors: Why and How?
(International Finance Corporation, Washington, D.C., 2015-05) International Finance Corporation
Institute of Directors (IoD) Networks promote corporate governance at the regional level through enhanced training and skill development for directors. Although the number of IoD Networks has increased over the last several years, many regions have only just begun to collaborate and address the common challenge of developing a sustainable network. In preparing this report, the authors began by looking for similarities among successful networks, including by speaking with several network members and International Finance Corporation (IFC) representatives across the globe. Throughout this process, the authors analyzed the benefits and key takeaways from networks in Latin America, Africa, North America, and Europe to leverage synergies to develop effective and sustainable networks.
Public Privatequity Partnerships: Accelerating the Growth of Climate Related Private Equity Investment
(International Finance Corporation, Washington, D.C., 2012-01-01) International Finance Corporation
This brief expalins about accelerating the growth of climate related private equity investment and Mitigating climate change requires vast investment. The World Bank estimates the volume of financing needed to meet the additional costs by the international community for climate change-related development. However, this sum represents only the additional or incremental costs: it would need to leverage nearly 20 times that amount—or up to as much as $4.6 trillion—from underlying investment finance from other public or private sources. These investment needs are diverse, and catalyzing the necessary finance to address the challenge of climate change will require interventions across all asset classes. Among the various types ofcapital, Private Equity/Venture Capital (PE/VC) is uniquely suited to financing climate friendly investments that are risky, innovative,and relatively small. As a result, less than 2 percent of PE/VC fund activities spread across all the emerging markets outside of India and China, despite these countries making up 20 percent of the world’s economy. Further, most investment in emerging markets has been made by international firms investing from overseas. There is still a very limited numberof locally developed climate friendly private equity funds in Emerging Markets.