Meaningful Stakeholder Engagement: A Joint Publication of the MFI Working Group on Environmental and Social Standards

 

Whether impacted positively or negatively, people should be included in project design and implementation. Download this publication outlining objectives, and principles of stakeholder engagement.

This publication does not propose a “one size fits all” formula for consultation and stakeholder engagement. Stakeholder engagement is a systematic but flexible process. In this sense, the authors propose ten aspects and elements that are pivotal for a meaningful stakeholder engagement process. The approach recommended is to ensure that analytical, participatory, and operational aspects mutually inform each other, constituting an ongoing, iterative process throughout the project cycle.

The Inter-American Development Bank (IDB), along with members of several other Multilateral Financial Institutions (MFIs), have prepared this publication, to contribute to a more consistent approach in undertaking stakeholder engagement, applying principles found in identified best practices, and adapted to local contexts. It summarizes the immense value of stakeholder engagement to achieve sustainability in development outcomes, and emphasizes that it should be seen as a process, rather than one or more isolated or stand-alone actions.

 

DOWNLOAD THE PUBLICATION HERE