|Theme||Retail Housing Finance, Housing Finance Policy|
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.