A Guide to Assessing and Implementing the Universal Standards for Social and Environmental Performance Management

7 entries were found.

Guide GPSE

Dimension 1 - Social Strategy

Starting with strategy is important because the first step to achieving good performance is defining what "good" performance is, and then developing a strategy to achieve it. Integrating a social element into the strategy is also important, given the increasing recognition that better customer outcomes strengthen the overall sustainability of the business, and therefore "good" performance must include creating some type of benefits for customers.

Guide GPSE

Dimension 2 - Committed Leadership

Commitment to social performance starts at the top. A social strategy is only strong if the Board and senior management understand and uphold it. In order for social performance to be fully embedded in the organization, the governing bodies and senior leadership must build it into the organization’s plans and accountability structures. The governance and management should be clear, committed and incentivized to achieve the provider’s social objectives. Dimension 2 lays out the key practices that leadership should make a standard part of operations and decision-making.

Guide GPSE

Dimension 3 - Client-centered Products and Services

Client-centered design means thinking through how financial and non-financial services fit into your target clients’ lives and help them achieve their financial goals and then designing accordingly. In order to do this, you must listen to your clients to understand how the needs and product use of different client groups vary, how client satisfaction and exit varies by client group and the reasons behind these. Products and services should be designed to reduce barriers to financial access as well as helping clients achieve financial goals like coping with risk and emergencies, investing in opportunities, smoothing income or creating a safety net.

Guide GPSE

Dimension 4 - Client Protection

Client protection is the minimum standard for all responsible financial service providers. The standards in this dimension ensure that the financial institution has the practices and systems in place to prevent harm to their clients, while those clients access and utilize their financial and non-financial services. Institutions that seek to create benefits in their clients‚Äô lives must first ensure that they do no harm, and it‚Äôs their responsibility to prevent it.  

Guide GPSE

Dimension 5 - Responsible Human Resource Development

Your staff are your greatest asset for achieving your social objectives. Actively value your staff, make sure they're clear on their roles and responsibilities, and listen to their ideas about how to improve your organization - and they will do excellent work for you.‚ÄĮResponsible treatment of employees is critical to a successful institution. Employees have rights, and employees that are well-treated are more likely to treat clients responsibly.

Guide GPSE

Dimension 6 - Responsible Growth and Returns

Dimension 6’s standards and guidance start from the premise that, as a social enterprise, an institution’s financial decisions and results should reflect their social goals. As with other social enterprises, striking the right balance is key. As financial institutions grow and take on new funders who may have a different priorities or strike a different balance, it is very important for the financial service provider to have institutionalized policies and practices that support its own balance. The 3 primary areas of focus in this dimension are responsibly managing growth, setting prices and using profits to achieve long-term sustainability while achieving social goals.

Guide GPSE

Dimension 7 - Environmental Performance Management

In a context where climate change and environmental degradation are already affecting every region of our planet, and in particular the most vulnerable populations, it is clear that financial and social sustainability objectives will not be achieved without considering environmental issues. FSPs should seriously engage in improving their environmental performance, avoiding generating negative environmental impacts and contributing to foster climate change adaptation, environmental risk mitigation and regenerative solutions.