To demonstrate achievement of the Fund’s objectives, to contribute to the high-level policy goals, and to bring guidance to activities, a fund-level Environmental & Social (E&S) impact framework allows partners and stakeholders to comprehensively assess impacts of the Fund against pre-established KPIs.
The purpose of E&S screening is to assist the Fund Manager to select projects and landscapes for investment that are likely to significantly contribute to achieving the core objectives of the Fund, whilst also mitigating any environmental and social risks.
Fund-level Impact KPIs have been established jointly by Rabobank and UN Environment within the AGRI3 Fund Environmental and Social (E&S) Framework. KPIs have been defined for each of the three core impact objectives of the fund – 1) Forest Protection and Reforestation; 2) Sustainable Agriculture; and 3) Improved Rural Livelihoods.
Acceleration of sustainable management of forests and legal reforestation obligations, transition to agroforestry as well as protection of high conservation/high carbon stock forests that enhance soil fertility, carbon sequestration, water management and biodiversity.
To projects in the implementation phase, so that project developers have greater capacity to implement projects to a higher technical standard and/or with increased positive social and environmental impacts.
Improving the living standards of farmers, including smallholders, in order to reach sustainable inclusive growth, with particular attention paid to gender equality, eradicating child labour, promoting fair labour and wages, and alleviating poverty.
Projects under the Fund are required to operate in line with the International Finance Corporation’s Performance Standards on Environmental and Social Sustainability (IFC PS).
The nature and the kind of projects eligible under the Fund (e.g. large-scale commercial versus smallholder farms) require a case-by-case approach to identify the feasibility of fully applying the IFC PS, and the most appropriate way to transition towards operating in line with these standards or comply with IFC PS by the time of project termination.
The Fund will also reference the E&S and corporate social responsibility policies of Funding partners, where relevant and applicable, to the assessment of projects during the initial project assessment phase, and during ongoing project evaluation.