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Companies flouting ESG rules to miss IFC funding
Guests attend an IFC event in the past. The financier's decision could lock out thousands of businesses from its concessional funding. FILE PHOTO | NMG
The International Finance Corporation (IFC) will no longer fund any private sector companies that do not adhere to or report on environmental, social, and governance (ESG) issues, a step that could lock out several firms in Kenya.
ESG standards are considerations on how companies’ business practices impact the natural environment, the people around them, and their employees in the pursuit for profits.
