Socioeconomic Value (Initial Profiling and Preliminary Decision)
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On this page: A project’s socioeconomic value criterion checks for the presence of co-benefits provided by the project activities to biodiversity and ecosystems, improving water, air, and soil quality, enabling employment opportunities for local communities, improving access to health and education services, and improving gender equality. Read more below, or download the following reports: Strategic Guidance for Country System Assessments and Guidance for Countries in Assessing ERC Projects, or the Mobilizing ERC Finance Report.
S2: Socioeconomic value: As indicated in Introduction to the Project Assessment Framework, a project’s socioeconomic value at this initial profiling stage follows a high-level check-listing process. The rating for this criterion is similarly determined by the project meeting a number of these checklist statements from the full list, following the rating levels indicated for the initial profiling step in Introduction to the Project Assessment Framework. This criterion checks for the presence of co-benefits provided by the project activities to biodiversity and ecosystems, improving water, air, and soil quality, enabling employment opportunities for local communities, improving access to health and education services, and improving gender equality. These metrics indicate the project’s wider contributions to the environment and community. See Figure 3.7. Figure 3.7 Checklist for socioeconomic value Project has co-benefits contributing to biodiversity and ecosystems, i.e. conserving natural habitats, protecting endangered flora/fauna species, etc. Project has co-benefits contributing to improving local water, air or soil quality. Project has co-benefits contributing to creating or improving access to employment opportunities for local communities. Project has co-benefits contributing to improving the community's access to health and education services. Project has co-benefits contributing to improving gender equality, such as by improving women's participation in decision-making, reducing the strain of unpaid domestic burden on women, etc.
Checklist
This section is intended to be a living document and will be reviewed at regular intervals. The Guidelines have not been prepared with any specific transaction in mind and are meant to serve only as general guidance. It is therefore critical that the Guidelines be reviewed and adapted for specific transactions. Unless expressly stated otherwise, the findings, interpretations, and conclusions expressed in the Materials in this Site are those of the various authors of the Materials and are not necessarily those of The World Bank Group, its member institutions, or their respective Boards of Executive Directors or member countries. For feedback on the content of this section of the website or suggestions for links or materials that could be included, please contact the PPPLRC at ppp@worldbank.org.
Updated: April 5, 2024
TABLE OF CONTENTS
UNLOCKING GLOBAL EMISSION REDUCTION CREDIT
Guidance for Countries in Assessing ERC Projects
1. Introduction to Emission Reduction Credits
• The World Bank's Emission Reduction Program
•Classification of Emissions Reduction Credit
• Policy Context of Emissions Reduction Credit
2. Objective of the Guidance for Countries in Assessing ERC Projects
• Objective of Project Preparation Guidelines
• Introduction to the Project Assessment Framework
• Process to Conducting Assessments
• S1: Green Economy Priorities
• S3: Article 6 Readiness and Eligibility
4. Conducting the Initial Profiling and Making a Preliminary Decision
• F2: Additional Value Enabled by Project
• C1, C2, and C3: Carbon Integrity and Environmental and Social Risk Management
5. Conducting the Project Assessment and Making the Final Decision
• F1: Project ERC value and F2: Additional Value Enabled by Project
• Q2: Marketing, Sales, and Pricing
• Q3: Project Governance and Structure
• C2: Environmental Risk Management
• C3: Social Risk Management and Benefits
6. Further Guidance for Application
• Country Context-driven Factors
• Considerations for Future Scope
Abbreviations: Guidance for Countries in Assessing ERC Projects