The eco.business Development Facility co-sponsored the Regional Roundtable for Sustainable Finance for Latin America and the Caribbean, which was organized by the United Nations Environment Programme - Finance Initiative (UNEP FI) and the Brazilian Federation of Banks (FEBRABAN). The event took place on 14-15 October 2019 in São Paulo, Brazil and is one of the most prominent events on sustainable finance in the Latin American region, with 19 countries from the region represented. The conference brought together 360 delegates from governments, multilateral organizations, the financial sector and civil society to share their experiences on sustainable finance.
The event is one of five regional events across the world, providing insight into key developments such as the benefits of sustainable finance integration in national economies, uptake and implementation of the principles for responsible banking, positive impact measurement and growth, social impact and inclusion as well as cutting edge applications of fintech in green financing.
As part of its efforts to promote business practices that contribute to biodiversity conservation and the sustainable use of natural resources, the eco.business Fund Development Facility not only co-sponsored the event, but also sponsored the participation of representatives of two financial institutions – Daniel Orellana, Environmental Officer at Banco Hipotecario, and Miguel Achury, Vice President of Planning and Institutional Development at Bancamía.
During the first day of the event, Orellana was invited to speak on a panel entitled, “Integrating social and environmental risks in Latin America and the Caribbean” while Achury presented on, “Financial education and inclusion to leverage our economy” during the second day of the conference. Both presented their experiences and the progress they have made on sustainability topics.
Sandra Abella and Federico Sinisterra, from the eco.business Fund’s advisor Finance in Motion, represented the fund at the event. Abella presented on how the eco.business Fund as a public-private-partnership, leverages public funding to finance sustainable activities that contribute to the Sustainable Development Goals. She also emphasized how the fund assess its impact based on a theory of change.
Karim ould Chih, Chairman of the eco.business Development Facility stated: “The interactive nature of the event and its panels encouraged participants to share their experiences on sustainable finance with policy makers, regulators and peers from across the finance industry in Latin America and the Caribbean. It is through these discussions and transfer of knowledge can we contribute to the development of sustainable finance 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 IDB Invest, a member of the Inter-American Development Bank (IDB) Group, the U.K. government’s Department for Environment, Food and Rural Affairs, Dutch development bank FMO, Austrian development bank OeEB, 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.