DGRV’s project in Honduras focuses on strengthening the cooperative financial sector, particularly in rural areas, and improving access to financial products and services. The initiative also aims to enhance resilience to climate change and promote the efficient use of natural resources, fostering sustainable and inclusive economic growth.
Since 2020, DGRV has taken steps toward introducing sustainable finance. In early 2022 it was decided together with FACACH, the largest association of cooperative financial institutions with 83 members and over 850,000 predominantly rural members (over 50% women) to hold a comprehensive Sustainability Event.
Conducted in the latter half of 2023 under the title “Transition to a Sustainable Economy,” the sustainability event was held in two separate events to give all the association’s savings and loan institutions the opportunity to participate. Expert presentations by DGRV and international consultants covered diverse topics, strengthening bonds among cooperatives and laying the foundation for a fairer, more resilient economic future respecting Honduras’ environment.
The first session, “Introduction to Sustainable Finance/Regulatory Initiatives and Support from the Integrated Sector,” provided insights into sustainable finance, highlighted regulatory initiatives, and outlined a strategic path for effective implementation. The second session emphasized integrating sustainability criteria in project assessment, not just as an ethical imperative but as a crucial strategy merging operational effectiveness with ecological and social responsibility.
Participants also learned about eco-efficiency in cooperative financial institutions, stressing the need for resource optimization to minimize environmental impacts. Another segment addressed Environmental, Social, and Governance (ESG) criteria in the cooperative financial sector, emphasizing clear guidelines for integrating ethical practices.
The events concluded with a guide on building sustainable portfolios in savings and credit cooperatives, equipping them with tools for adopting more sustainable financial practices, ensuring sector viability and success.
These events, uniting over 60 financial cooperatives, marked a significant milestone for the sector’s collective pursuit of economic development that respects and preserves the planet’s resources. With over 500 participants committing to progress in sustainable financial practices, it was agreed that these events signify the beginning of a transformative journey in the Honduran cooperative sector.
A Project Story of the Month / DGRV Team Latin America
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