The Head of the International Labour Organization (ILO) and the International Finance Corporation (IFC). Picture Credit: ILO
The International Labour Organization (ILO) and the International Finance Corporation (IFC) said they aim to strengthen their collaboration to enhance the focus on social issues in Environmental, Social, and Governance (ESG) efforts related to private investments.
“I am convinced that by working closer together, our organizations can lift working conditions in supply chains and contribute to sustainable development, including in the most difficult contexts,” said ILO Director-General, Gilbert F. Houngbo.
The “enhanced” partnership aims to promote “decent” private sector jobs and social inclusion, said the entities in a press release.
Accordingly, relying on social standards, the priority themes will include” promoting gender equality in the workplace and addressing gender-based violence at work; supporting the creation of quality green jobs for the future and scaling up joint efforts to improve workers’ conditions in supply chains.
“By leveraging our unique and complementary advantages, I know we will accomplish more together than we ever could alone,” said Makhtar Diop, Managing Director of IFC, in the first address of a head of IFC to the ILO Governing Body,
The entities said that the partnership will promote mutually beneficial capacity building for IFC and ILO staff, including through staff exchanges to share technical expertise across the institutions and by joint work on employment impact assessments.
Technical ILO-IFC consultations will be held bi-annually, they added.
The ILO and the IFC already collaborate on the Better Work Programme, a partnership among international organizations that brings together all levels of the garment industry to improve working conditions, respect labour rights, and boost the competitiveness of apparel businesses.
The entities has expanded the Better Work Programme, since 2007, to 12 countries, 47 brands, and 2000 factories, improving working conditions for more than five million workers.