Protection of Cultural Heritage in Project Design and Execution (IFC Performance Standard 8)is an indicator of
This indicator relates to an organisation's procedures on Protection of Cultural Heritage in Project Design and Execution and is a component of IFC Performance Standard 8 (Cultural Heritage). The organisation must identify and protect cultural heritage by ensuring internationally recognised practices for protection, field-based study and documentation of cultural heritage are implemented. Where the risk and identification process identifies the risk of impacts to cultural heritage, the organisation must retain professions to assist in identifying and protecting cultural heritage. Additional requirements are applicable where there exists risk of impacts relating to removal of critical or non-replicable cultural heritage. The organisation must also comply with any applicable laws on protection of cultural heritage. "Cultural heritage" in the context of this performance standard relates to "tangible forms of cultural heritage, such of tangible moveable or immovable objects, property, sites, structures or groups of structures, having archaeological (prehistoric), paleontological, historical, cultural, artistic, and religious values; unique features or tangible objects that embody cultural values, such as sacred groves, rocks, lakes or waterfalls; and certain instances of intangible forms of culture that are proposed to be used for commercial purposes, such as cultural knowledge, innovations, and practices of communities embodying traditional lifestyles." Other Performance Standards may also be applicable to a project. The Performance Standards are required for clients of IFC, but may also be applied by other organisations to manage their social and environmental management practices. For more information on the IFC Performance Standards see: http://www.ifc.org/wps/wcm/connect/c8f524004a73daeca09afdf998895a12/IFC_Performance_Standards.pdf?MOD=AJPERES. This indicator is taken from Performance Standard 8 of the International Finance Corporation's Sustainability Framework. Performance Standard 8: Cultural Heritage is part of IFC's wider strategy of promoting sustainable development and reducing financial risk. Performance Standards 2 through 8 establish objectives and requirements to avoid, minimise, and where residual impacted remain, to compensate/offset for risks and impacts to workers, Affected Communities, and the environment. While all relevant environmental and social risks and potential impacts should be considered as part of the assessment, Performance Standards 2 through 8 describe potential environmental and social risks and impacts that require particular attention. Where environmental or social risks and impacts are identified, the client is required to manage them through its Environmental and Social management System (ESMS) consistent with Performance Standard 1. For more information on the IFC Performance Standards see: http://www.ifc.org/wps/wcm/connect/c8f524004a73daeca09afdf998895a12/IFC_Performance_Standards.pdf?MOD=AJPERES. Assessment of whether this has been implemented/addressed. IFC auditing process.