Sustainable finance
Social Safeguard
Mandatory policies of development finance institutions that prevent projects from harming people and the environment.
Definition
Social safeguards are the policies and procedures of development finance institutions designed to identify, avoid, minimise and mitigate adverse social impacts of financed projects — covering involuntary resettlement, indigenous peoples, labour, community health and cultural heritage, typically paired with environmental safeguards. Major systems include the World Bank Environmental and Social Framework (ESF, 2018) and the IFC Performance Standards, which also anchor private-sector standards through the Equator Principles.
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