Agreement between ASOMIF and WWF Peru to promote green microcredits to strengthen biodiversity
The Association of Microfinance Institutions of Peru (ASOMIF) and WWF Peru signed a cooperation agreement to promote the development of sustainable finance in the country, through the strengthening of the capacities of the microfinance sector and the design of financial products aimed at the conservation of biodiversity.
The alliance seeks to generate joint actions that allow the integration of environmental criteria in the financial products and services of ASOMIF's partner institutions, as well as to promote tools and good practices for the management of nature-related risks.
ASOMIF brings together more than 14 regulated microfinance institutions that play a key role in financial inclusion, bringing services to communities where the traditional banking system has a limited presence. This agreement opens a new line of work aimed at strengthening its contribution to sustainable development, especially in strategic territories such as the Peruvian Amazon.
As part of this cooperation, WWF-Peru will develop a specialized training program for partner entities, focused on the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD), as well as on the use of tools such as the Biodiversity Risk Filter and the Water Risk Filter, which allow the identification and management of environmental risks in credit portfolios.
In addition, both organizations will explore the design of microcredits linked to Nature-based Solutions ("NbS"), aimed at promoting good agricultural practices.
"This agreement represents an important step to bring sustainable finance closer to the territories where it is most needed. At WWF-Peru we seek to promote a financial system that incorporates nature as a strategic criterion for decision-making, promoting economic development opportunities that strengthen biodiversity conservation and the resilience of communities", said Kurt Holle, country director of WWF Peru.
The signing of this agreement is part of WWF's global project "Enabling and Scaling up Nature-related Financial Disclosures", which promotes the adoption of international standards to integrate nature-related risk management in the financial sector in prioritized countries such as Peru.
"This agreement will allow us to strengthen the capacities of partner institutions to incorporate biodiversity aspects into their strategies and financial solutions to their clients. In addition, it opens the opportunity to develop microcredits and specialized tools aimed at more resilient productive activities, especially in sectors linked to regenerative livestock farming in territories with greater climate vulnerability", said Paola Masías Barreda, President of the Board of Directors of ASOMIF.
With this alliance, ASOMIF and WWF Peru reaffirm their commitment to a transition towards more sustainable financial models, capable of generating a positive impact for people, nature and the country's development.
© WWF-Peru
