Social Performance Taskforce Finalizes Universal Standards for Social Performance Management for Microfinance Institutions
| Date Published | 7/17/2012 |
| Author | Marja Hoek-Smit |
| Theme | Retail Housing Finance, Housing Finance Policy |
| Country |
The Social Performance Taskforce
Finalized Universal Standards for Social Performance Management for
Micro-Finance Institutions
The Social Performance Taskforce published its Universal Standards for Social Performance Management last month. Developed through broad industry consultation, “the Standards” are a set
of management standards that apply to all microfinance institutions pursing a double bottom line. Meeting the
standards signifies that an institution has “strong” social performance
management (SPM) practices.
The Social Performance Taskforce was created in March 2005
when CGAP, the Argidius Foundation, and the Ford Foundation brought together
leaders from various social performance initiatives in the microfinance
industry with the purpose of fostering agreement on a common social performance
framework and to develop an action plan to move social performance forward.
Today, the Social Performance Task Force (SPTF) consists of
over 1,000 members from all over the world and from every microfinance
stakeholder group: practitioners, donors and investors (multilateral,
bilateral, and private), global, national and regional associations, technical
assistance providers, rating agencies, academics and researchers, and
others. Day to day operations of the Task Force are run by the SPTF
Secretariat, while a 16-member Steering Committee with representatives from all
major stakeholder groups provides strategic leadership and
oversight.
Members of the Microfinance CEO Working Group (which
consists of the CEOs of leading organizations Accion, FINCA, Freedom from
Hunger, Grameen Foundation USA, Opportunity International, Pro Mujer,
VisionFund International, and Women’s World Banking) have committed to working
with a number of their member institutions to “beta test” the Standards.
http://www.sptf.info/sp-standards