The OECD-UNDP Impact Standards for Financing Sustainable Development (IS-FSD) are a best-practice guide and self-assessment tool for public and private investors seeking to optimise their positive contribution to the sustainable development goals (SDGs).
The Standards facilitate transparency in investment reporting and will contribute to the reduction of “impact washing” - a process in which investors claim to align with and contribute to development objectives without providing meaningful supporting evidence.
The OECD Development Assistance Committee (DAC) approved the standards in March 2021. This marks an important step towards greater public accountability amongst the organisations involved in financing sustainable development.
How do the Standards add value to existing impact management principles, frameworks and tools?
The Standards address donor priorities overlooked by existing impact management systems, such as greater transparency, human rights considerations and local development needs.
They also address a gap between management principles and measurement tools. They do so by making high-level principles actionable, embedding the impact management project (IMP) shared norms and providing guidance for the application of existing tools and frameworks.
The Standards are aligned with the SDG Impact Standards of the United Nations Development Programme (UNDP).
For more information, please see the full report attached below.
The content was originally posted on oecd.org
Photo credit: Omotajo Tajudeen on Unsplash.
DISCLAIMER:
The views expressed in the blog and report attached are the author's own and do not necessarily reflect those of the SDG Philanthropy Platform. The SDG Philanthropy Platform is a global initiative that connects philanthropy with knowledge and networks that can deepen collaboration, leverage resources and sustain impact, driving SDG delivery within national development planning. It is led by the United Nations Development Programme (UNDP) and WINGS, and supported by the Conrad N. Hilton Foundation, Ford Foundation, Oak Foundation, Brach Family Charitable Foundation, and many others.
