Resources Corporate Responsibility Program

At A Glance:
The Corporate Responsibility Program is charged with identifying and spurring key corporate sustainability initiatives. It focuses on three main areas of work:  

·         Reducing our environmental footprint across the Bank by identifying and carrying out key initiatives for greenhouse gas (GHG) reduction; promoting efficiencies in water, waste, energy; and educating staff on environmental issues;

·         Promoting greater transparency for the organization’s environmental performance at the corporate and operational levels. This is done through forums such as the Carbon Disclosure Project; the Sustainable United Nations (UN) Initiative; and the Bank’s sustainability website that includes the Global Reporting Initiative (GRI) Index; and

·         Supporting the World Bank Treasury in its strategic effort to broaden its investor base by reaching out to Socially Responsible Investors (SRIs) and developing innovative financial products and services.

Corporate Climate Commitment: measure, reduce, offset.  The World Bank has made a commitment to reducing the GHG emissions from its daily operations through a comprehensive program to measure and manage the sources of emissions. While the larger share of the Bank’s corporate emissions result from operational travel, its facilities contribute close to 40 percent of corporate GHG emissions. An internal commitment to reduce emissions from the Washington facilities by 7 percent over five years was recently met.  To maintain carbon neutrality, the Bank is purchasing offsets for the corporate emissions it cannot reduce. We purchase Verified Emissions Reduction credits for facilities and travel, and Renewable Energy Certificates for electricity consumption. In fiscal year 2011, the Bank maintained carbon neutrality with the purchase of carbon credits from a composting project in Pakistan.

Sustainable Facilities: LEED-ing by example. The Bank has obtained Leadership in Energy and Environmental Design (LEED) certification[1] for three of its Washington buildings. The new “C” building has earned LEED platinum certification for core and shell, and is expected to earn gold certification for commercial interiors. Two other Washington buildings have obtained LEED gold certification for existing buildings operations and maintenance.

Reporting: Promoting greater transparency and accountability Reporting to stakeholders on triple-bottom-line performance (environmental, social, economic) is essential for recognition as an organization with sustainable business practices. Our Corporate Responsibility website provides a web-based Sustainability Report and includes the stand-alone Global Reporting Initiative (GRI) index, the international standard for sustainability indicators. The Bank’s corporate greenhouse gas emissions are also reported through the Climate Neutral UN Initiative as well as the Carbon Disclosure Project, a non-governmental organization based in the United Kingdom that maintains the largest global database of corporate GHG inventory information. 

Innovative financial products: Green Bonds The World Bank Treasury, working with the Environment Department, has developed innovative products that act as a catalyst for private-sector climate financing through the capital markets. World Bank Green Bonds raise funds from fixed-income investors to support World Bank lending for eligible climate change mitigation or adaptation projects.  Since the inaugural issue in 2008, the World Bank has issued over $2 billion in Green Bonds through over 40 bonds in 16 currencies. More information is available at: http://treasury.worldbank.org/greenbonds.

Sustainable Corporate Procurement: Environmentally preferred products New environmentally responsible procurement standards and goals (2011) have been established. These specify sustainability criteria in key products procured, including consumables (paper, office supplies), durable goods (electronics, furniture), facility alterations and additions, and lighting.

Leading by Example. The World Bank’s work in corporate responsibility in Washington and country offices demonstrates our commitment to environmental sustainability.  In Washington, alternative commuting options have been expanded to include reserved parking spaces for carpool and hybrid vehicles, sponsorship of the Washington bike sharing scheme with discounted membership rates for staff, and improved locker and shower facilities.

The green roof on the World Bank’s “I” building helps divert rain water from the sewage system and provides a habitat for birds and insects.  The Bank’s composting program decreases the amount of waste we send to the landfill and uses innovative technologies to reduce the weight and volume of our food waste by 80 percent.

An increasing number of country offices are also rolling out initiatives to decrease their environmental footprint and to lead by example. The Macedonia country office, for example, has showcased various carbon footprint reduction initiatives, aiming to be a model in support of the country’s drive for accession to the European Union. The new 55,000 ft. office space in Delhi is pursuing LEED certification for commercial interiors. The corporate Facilities Team is managing many other country offices in an effort to increase their operating efficiency, including upgrades of lighting and heating and air conditioning systems. 

For more information, please see: www.worldbank.org/cesr

Contacts:

Elisabeth Mealey: (202) 458-4475, emealey@worldbank.org 

Patricia Overend: (202) 473-1710, poverend@worldbank.org

Updated August 2011