The IFC raises the bar on gender equity with second level of EDGE certification

Posted on April 7th, 2022

The organization has become certified for the first time at the EDGE Move level.

The International Finance Corporation (IFC), a member of the World Bank Group, the largest global development institution focused on the private sector in emerging markets, has been certified to the EDGE Move level, exemplifying its progress to gender equity in the workplace.

EDGE is the leading global assessment and business certification for gender and intersectional equity. EDGE Move is the second level of certification which demonstrates an organization’s progression in fostering workplace gender balance and gender equity. The certification process involves a rigorous third-party review of representation across the pipeline, pay equity, effectiveness of policies and practices, and inclusiveness of an organization’s culture. As an integral part of the assessment, employees receive a comprehensive survey to assess perceptions of career development opportunities in the workplace.

Since its first EDGE Assess certification in 2018, the International Finance Corporation (IFC) improved the gender composition across all levels of management all the way to the Board of Governors. It has strengthened the effectiveness of policies and practices to ensure equitable career flows in three key areas: recruitment and promotion; leadership development training and mentoring; and flexible working. There was also a much higher rate of engagement from employees on these topics, with more than half of IFC’s global workforce actively participating and giving their voice as part of the EDGE survey, an essential part of the EDGE Certification process.

Aniela Unguresan, Founder of EDGE Certified Foundation, says the organization is paving the way in the sector as gender equity champions: “We’re thrilled with the International Finance Corporation (IFC)’s progression to EDGE Move level and the organization’s commitment to proactively manage pay equity and raise awareness of this issue amongst all levels of management. Moreover, the International Finance Corporation (IFC) is also continuing to facilitate a better work/life balance for all employees by encouraging men to take advantage of the generous parental leave the organization offers.“

The International Finance Corporation (IFC) progressed from EDGE Assess to EDGE Move certification thanks to the continuous efforts to improve gender balance within all levels of responsibility. Progression has led to an increase in the percentage of women throughout, all the way to the Board of Governors, setting a clear visible example of women in leadership and decision-making roles. In addition, the International Finance Corporation (IFC) is not only an EDGE Move certified organization, but also an accredited licensing partner of EDGE. As part of its investment and advisory services, the organization prepares its portfolio companies for EDGE Certification and promotes further advancement of gender equity in the workplace across multiple industries and geographies.”

 

ABOUT INTERNATIONAL FINANCE CORPORATION

IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.

 

ABOUT EDGE CERTIFICATION

EDGE is the leading global assessment and business certification for gender and intersectional equity. EDGE Certification involves a rigorous third-party review of representation across the pipeline, pay equity, effectiveness of policies and practices, and inclusiveness of an organization’s culture. As an integral part of the assessment, statistical data is analysed, policies and practices are reviewed and employees’ experiences of career development opportunities in the current workplace are accounted for. Depending on the specific results of each organization, an action plan is formulated, and firm commitments towards its implementation.​​

EDGE Certification meets organizations where they are in their gender balance journey (EDGE) and in their intersectional equity journey (EDGEplus) through its three levels of certification: Assess, Move and Lead. A certification at the EDGE Assess level recognizes commitment, one at the EDGE Move level showcases progress and a certification at the EDGE Lead level celebrates success in fostering gender equitable workplaces. An EDGEplus certification further recognizing its commitment to analysing intersectional issues between gender and one or several of the following additional dimensions: gender identity, race/ethnicity, LGBTQI+, working with a disability, nationality and age.​

EDGE Certification is built around the independent third-party certification of data and information and is distinguished by its rigour and focus on impact granted by one of the EDGE accredited independent third-party certification bodies – SGS, Intertek or FloCert, it remains valid for a period of two years. EDGE’s current customer base consists of over 200 large organizations in 50 countries across five continents, representing 30 different industries.​

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