The eco.business Fund Development Facility, in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI), has successfully launched a tailor-made webinar series on the U.N. “Principles for Responsible Banking.” More than 80 bank representatives from Ecuador, Colombia, Mexico, Brazil, Argentina, and Central America participated in the first webinar of the series to learn about concrete methods for integrating this framework into local financing practices.
This online capacity building program, which will consist of four online sessions over the next five months, has been designed by the eco.business Fund Development Facility for the fund’s partner institutions as well as other financial institutions interested in implementing the six U.N. Principles for Responsible Banking. This framework has been set out by UNEP FI to ensure that banking practices align with the Sustainable Development Goals, including elements of governance, accountability, and sustainability.
The Development Facility will also assist in updating three of UNEP FI’s current online courses. Namely, the Environmental & Social Risk Analysis (ESRA) Training Programme, the Corporate Ecoefficiency in Financial Institutions (CEFI) Online Course, and the Climate Change: Risks and Opportunities for the Finance Sector Online Course. All courses will continue to be taught through UNEP FI’s online learning platform in multiple languages, allowing access to users from around the globe.
Ms. Susanne Berghaus, Chairperson of the eco.business Development Facility, stated: “Providing finance to promote socially, economically and ecologically responsible business and consumption practices is at the core of the eco.business Fund’s mission. That’s why we are honored to partner with UNEP FI in this endeavor, to support the uptake of the Principles for Responsible Banking among financial institutions in Latin America and the Caribbean. Together, we can ensure the availability of financing and expertise for business and consumption practices that advance conservation efforts in the region.”
About the eco.business Fund
The eco.business Fund aims to promote business and consumption practices that contribute to biodiversity conservation, to the sustainable use of natural resources, and to mitigate climate change and adapt to its impacts. By providing financing for business practices that conserve nature and foster biodiversity, the fund seeks investments with both environmental and financial returns. The fund mainly provides loans to qualified financial institutions that on-lend the money to eligible borrowers, which include holders of recognized certifications or those making improvements in line with conservation and biodiversity goals. The fund supports sustainable operations in the sectors of agriculture, fishery (including aquaculture), forestry and tourism.
The eco.business Fund was initiated by Germany’s KfW Development Bank and Conservation International with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ). It has received further donor support from the European Commission. The fund’s additional investor base comprises the U.K. government’s Department for Environment, Food and Rural Affairs, Dutch development bank FMO, Austrian development bank OeEB, IDB Invest, and institutional investors such as sustainable banking institution ASN Bank, German ethical bank GLS Bank, Calvert Impact Capital, and Raiffeisen Bank International. Finance in Motion, a leading impact investing company, is also an investor.
Operating hand-in-hand with the eco.business Fund, the eco.business Development Facility provides high-impact technical assistance to financial institutions and final borrowers.
For more information please visit www.ecobusiness.fund and follow us on Twitter @ecobusinessfund.