SIFEM - Swiss Investment Fund for Emerging Markets

Harmonizing the environmental and social requirements

SIFEM, the development finance institution of Switzerland, is a member of the association of European Development Finance Institutions (EDFI). In various working groups, the specialists of the individual organizations exchange their experiences and learn from each other.

The EDFI Environmental and Social Working Group with more than 30 specialists from 12 European DFIs met in Bern at the beginning of October at the invitation of SIFEM. The meeting marked the 10th anniversary of the "Rome Consensus". In 2007, EDFI members started the process to harmonize the EDFI environmental and social requirements that EDFI members uphold within their respective organizations and their portfolio companies. This harmonization facilitates better collaboration when co-investing, as the DFIs involved present a set of standards that the portfolio companies must adhere to. More importantly, it improves the portfolio companies' ability to comply with international, best practice, environmental and social standards.