As impact investing gains popularity, it will depend on the concerted support of financial giants like BNP Paribas and Citigroup. But is enough being done by the banks to add value to the sector?
For each of the past five years, the Economist Intelligence Unit’s Global Microscope on the Microfinance Business Environment has ranked Peru as the world’s best climate for microfinance. But what does that mean at a grassroots level? Some say that this environment benefits creditors more than it does debtors.
There was a young face sitting at the panel in one of the sessions at the UNEP Sustainable Consumption and Production in Asia conference. With no name in the conference agenda or on the table, there were no clues as to her identity. While everyone was still wondering who she was, she started her presentation on new models of microfinancing and capacity building for socio-eco-preneurs (innovative entrepreneurs who minimize or eliminate negative ecological and socio-cultural impacts when developing goods and services for profit). Given that the attendees were here for both practical and innovative solutions, Vrilly Rondonuwu, along with her three colleagues, Idda Mahbubah, Adie Nugroho and Airin Azizah did not fail to deliver as they represented Leadership for Environment and Development (LEAD) Indonesia to a captivated audience. These young people’s main objective is to create a sustainable financing and capacity building model for Indonesia by involving multiple stakeholders, which include financial institutions, banks, corporations, and socio-eco-preneurs.