Social Impact Studies

Flashcards covering key vocabulary and concepts from the Social Impact Studies lecture notes.

Social Impact Assessment (SIA)

A formalized set of practices and procedures to document and/or predict the socio-economic impacts of large-scale projects.

International Finance Corporation (IFC)

A major lender that has in place Performance Standards on Social & Environmental Sustainability for borrowers who wish to fund large scale projects.

IFC Performance Standard 1

Social and Environmental Assessment and Management Systems

IFC Performance Standard 2

Labour and Working Conditions

IFC Performance Standard 3

Pollution Prevention and Abatement

IFC Performance Standard 4

Community Health, Safety and Security

IFC Performance Standard 5

Land Acquisition and Involuntary Resettlement

IFC Performance Standard 6

Biodiversity Conservation and Sustainable Natural Resource Management

IFC Performance Standard 7

Indigenous Peoples

IFC Performance Standard 8

Cultural Heritage

Corporate Social Responsibility (CSR)

Emerged when the value it added to corporations was recognized in the 1980s following the resource extraction boom. Encompasses ‘corporate,’ ‘social,’ and ‘responsibility.’

Strategic Social Investment

Financial and in-kind contributions a project makes to the local community for social development.

Social License to Operate

The level of acceptance or approval of the activities of an organization by its stakeholders, especially local impacted communities.

Tax Credit Scheme (PNG)

Scheme established in 1992 that allows developers to implement and maintain approved community infrastructure using their own funds, and at the end of the financial year claim a tax credit for the value of the work completed, up to a prescribed limit.