How can business work with refugees?

“Investors often know why they should invest in refugees – they don’t know how” – Tim Docking, Managing Director, Refugee Investment Network

The principles below seek to promote and deploy investments that enhance economic integration of refugees, enable inclusive growth of host economies, and benefit investors and target beneficiaries alike:

• ADDITIONALITY: Refugee-related investment contributes complementary to what is available in the market and crowds in on the private sector
• RESILENCE: Investments contribute to the host economy’s resilience, long-term viability and growth potential through market development to counter shocks, including those caused by forced displacement
• INCLUSION: Investment furthering the economic integration of refugees supports financial and social inclusion and benefits both the forcibly displaced and host communities
• INSTRUMENTS: Solutions for investment, banking and access to finance for refugees and host communities are flexible and agile in order to respond and adapt adequately to the increased demand and risks inherent to a refugee-affected market configuration
• IMPACT: Refugee-related finance and investment delivers long-term impact and is profitable and sustainable for target beneficiaries, investees and investors alike

To see the principles in full, please download the Charter of Good Practice.

“Life is a little hard, but if we do not work, we cannot live. No matter which country you are in, you cannot live if you do not work” – Yussuf Ahmet, Syrian, working in Intertim Turkey

When considering refugee employment, businesses and their representative organizations should advocate for and consider the following five principles:

• ACCESS: Refugee talent has equitable access to larger societal structures, institutions and resources
• LEGAL FRAMEWORK: The legal framework for employment guarantees refugees’ freedom of movement, their right to work and to receive training, to decrease their reliance on aid and help the economy of the host country tap the full potential of their skills and consumption
• INTERMEDIATION: As social partners the employers’ representative organizations, government and trade unions play a unique intermediary role in the economic integration of refugees
• SKILLS: Foreign qualifications and skills are assessed, recognized and levelled swiftly, efficiently and in an equitable manner
• SOCIALISATION: Successful integration of refugees depends on insertion programs based on the local context

To see the principles in full, please download the Charter of Good Practice.

“It is vital to bring the private sector into the design process to deliver services to refugees, and, where it makes sense, to do so in a sustainable manner” – Sasha Kapadia, Director, Humanitarian & Development, Mastercard

When exploring, developing and implementing business models that support or include refugees the private sector should consider the following five principles:

• ADAPTATION: Adaptive and flexible responses factor in the complexity of refugee situations and the dynamics of the interactions between the stakeholders engaged
• SUSTAINABILITY AND ACCOUNTABILITY: Services and products are economically and environmentally viable, ‘do no harm’ and actively seek to deliver positive social impacts for refugees
• PARTNERSHIPS: Private groups and business affiliates, non-profit organizations, development institutions and government institutions create and sustain a level playing field for partnerships to deliver products and services to refugees
• MARKETABILITY: Commercial viability is a prerequisite to sustain and scale a business that provides services and products to refugees
• COMMUNICATION: Provision of adapted services and products that target refugees is communicated openly and carefully to/by all stakeholders (including refugees) to minimize risks and enhance internal and external support

To see the principles in full, please download the Charter of Good Practice.