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CANON · STANDARD / IFC-PS2

Labor and Working Conditions

DefinedTerm · CreativeWork

IFC PS2 (revised 2012) applies to all IFC-financed projects. Requires: signed employment agreements, wage records, grievance mechanisms, non-discrimination policies, and OHS management systems. Subcontractor compliance is the primary client's responsibility. Violation can trigger suspension of disbursements and mandatory remediation.

TERM CODE
ifc-ps2
IDENTIFIER
IFC Performance Standard 2International Finance Corporation
VERSION
2012
PUBLISHER
International Finance Corporation
EXTERNAL REFERENCE
https://www.ifc.org/en/insights-reports/2012/ifc-performance-standards
ADDITIONAL PROPERTY
in-effectstatusIFC Performance Standards are incorporated by reference in the Environmental and Social Frameworks of the World Bank, AfDB, ADB, and most development finance institutions. Signed labor records are the compliance evidence for PS2 audits.reasoninfrastructureappliesSectorslabor-compliance,public-worksappliesTriggers
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