Benchmarking against IFC performance standards

We helped a mid-cap oil and gas producer enhance internal management systems to align with the IFC performance standards.

• Challenge

  Due to pressure from a larger joint venture partner, our client had to update and enhance their internal management systems and operating protocols to align with industry best practice standards, primarily the IFC performance standards.

• Solution

  We benchmarked existing management policies, systems, guidelines, protocols and procedures against the IFC performance standards. We provided a recommended action plan to help our client prioritise and sequence filling the gaps. Case studies were also developed to demonstrate leading practice with respect to the different areas where gaps had been identified.

• Outcome

  Our client was able to demonstrate to joint venture partners the extent to which internal management systems aligned with IFC Performance Standards and how existing gaps were being addressed. The independent assessment also helped our client engage internal stakeholders and build consensus around the measures required to close performance gaps.