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A growing number of investors and corporates aim at coupling financial returns in developing countries with positive social, economic and environmental impacts. However, the way they measure those impacts can be at odds with actual managing practices, and important aspects such as transparency, the protection of human rights and local stakeholder consultation are not systematically taken into account. In order to help mend these gaps, the OECD-UNDP Impact Standards for Financing Sustainable Development (IS-FSD) provide a framework for donors, domestic finance institutions and their private sector partners to make financial decisions and manage projects in ways that generate a positive impact on sustainable development, and improves the transparency of development results. The Standards, approved by the OECD Development Assistance Committee in March 2021, constitute a best practice guide and self-assessment tool.
SDG Impact Practice Assurance Standards can be used as a guide to map out users own internal impact measurement and management practices (and design their impact management systems) to support both internal decision-making and external reporting requirements under multiple frameworks.
SDG Impact standards are interoperable with existing taxonomies, metrics and standards (e.g. GRI, SASB, IRIS+) and provide guidance to use standardized metrics, such as GRI, that are linked to specific SDG targets or outcomes and set across the Five Dimensions of Impact.
Debt sustainability and debt alignment to the SDG’s are key to being able to fulfill country-specific development priorities. With this in mind, UNDP developed the Practice Assurance Standards for SDG Bonds as an open-source public good that promote consistency, transparency and efficiency, and provide a competitively neutral platform that practitioners, analysts and assurers can apply.