Microfinance Needs Better Policies to Safeguard the Environment


Posted by: Elizabeth Israel in MyBlog on Sep 04, 2013

Tagged in: Poverty , Policy , Microfinance , GreenMicrofinance , Environment

Hult Social Entrepreneurship By Hult Social Entrepreneurship | May 6th, 2013

Many see microfinance as a solution to poverty.  It may be a powerful tool, but what can it do to finally build the sustainable economy we desperately need?  

microfinance

 Of what use will microfinance be if it contributes to the environmental degradation that aggravates inequality and poverty?  

There is no shortage of policies that govern the environment and policies that regulate the microfinance sector.  Many microfinance institutions have their own internal environmental policies. Voluntary policies are nice, but there is a lack of action on the part of government to impose sustainable practices in the microfinance sector, but, it isn’t for a lack of ideas for such policies.   

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Thank you for the mention of GreenMicrofinance in the article, Mariana Gerard, Charles Ojei, Windhi Trianugrayati, Jacquelyn Pinckney, Sovanlyna Phin, and Samuel Benoit. The authors are Master of Social Entrepreneurship candidates at Hult International Business School.   http://www.hult.edu/

"A 2006 roundtable convened by the Wharton Environmental Management Program and Green Microfinance concluded that while microfinance institutions (MFIs) can do much, they cannot do it all by themselves.  They concluded that governments need to provide an infrastructure in which sustainable activities have market value."