Safeguards, Co-Benefits & SDGs

The environmental and social problems we face are deeply interconnected. Designing solutions that address these issues requires careful attention to avoid creating new problems while solving existing ones. This principle is embodied in the phrase: "Do no harm."

At its core, this principle ensures that projects are developed in a way that minimizes harm to both the environment and society. To achieve this, project developers should:

Conduct Environmental and Social Risk Assessments

Project developers should review IFC Safeguard Standardsto get more detailed guidance on how to conduct risk assessments and mitigate risks with safeguards. Conducting these assessments includes discussions with local stakeholders to understand the potential impacts of the project and their severity. Risks may arise:

• Directly or indirectly from the project's operations.

• From predictable yet unplanned developments.

• Through indirect impacts, such as the use of certain resources.

Have a Robust Stakeholder Engagement Processes

Paying particular attention to Indigenous and Marginalized Communities who might be impacted by the project type, developers must be able to demonstrate that they have stakeholder engagement plans, have a policy to address potential grievances, and maintain benefit-sharing strategies.

This includes:

• Holding stakeholder consultation meetings prior to project implementation. These meetings should be collaborative with the goal of addressing grievances associated with the project's plans and taking into account needs that can be met through benefit sharing. Meetings should be:

  • Held in the local language,

  • Advertised in newspapers and online with appropriate notice to maximize attendance,

  • Transcribed and documented for transparency.

• Articulate implementation plans on the issues posed in the consultation meetings.

• Project developers should provide their contact information to relevant stakeholders should any grievances arise.

Mitigate Risks with Safeguards

After identifying potential impacts, project developers should develop management protocols to mitigate these risks effectively. While safeguards are project-specific, developers should:

• Do the work to understand local contexts, including land use regulations, policies, and management methods (especially for REDD+ and land based projects).

• Seek guidance from reputable sources to gain a background knowledge of key safeguard areas. Calyx Global outlines 10 safeguard areas to note:

  • Community, health, safety and security

  • Gender equity

  • Biodiversity Conservation and Sustainable Management

  • Cultural Heritage

  • Access to justice

  • Human rights and indigenous peoples

  • Labor rights and working conditions

  • Resource efficiency

  • Transparency and benefit sharing

  • Land rights and involuntary resettlements

Beyond "Do No Harm" + Create Co-Benefits

The principle of "do no harm" can evolve into "create co-benefits" or initiatives that go beyond harm prevention to deliver added value to biodiversity and communities. Co-benefits can include:

• Promoting ecosystem services and biodiversity,

• Generating local employment opportunities,

• Enaging in benefit sharing.

Benefit Sharing

Project developers should establish equitable forms of sharing the revenues from their projects with local communities. This could look like:

• Funding sustainable infrastructure, enhancing community resilience to climate change,

• Fostering job creation.

This should be implemented in collaboration with project developers to ensure the plan meets their needs and establishes long-term trust.

Alignment to Sustainable Development Goals

Sustainable Development Goals (or SDGs), established by the UN Development Program, provide a framework for addressing humanity's most pressing issues. With 17 goals spanning themes like the biosphere, society, and economy, SDGs encourage organizations to contribute meaningfully to global progress.

Measuring Impact on SDGs

There are different ways of assessing how a project aligns with these goals. A project developer can reference the list of indicators for each goal to discern how their project fits in. Project developers should consider how to go above and beyond Goal 13 (Action against climate change).

Monitoring and Validation

To ensure accountability, SDG impacts must be:

• Monitored and Quantified after project implementation,

• Validated by an accredited VVB during project validation.