The CGAP MIV ESG Award honors the “best in class” microfinance investors, and commends Oikocredit for its outstanding achievement in innovation and engagement with its project partners (or investees) and other industry groups.
Strict selection criteria for investments and transparency to investors have been integral to fulfilling Oikocredit’s mission, said Managing Director Tor G. Gull.
“Dedicated Oikocredit staff in over thirty offices around the world work tirelessly to ensure Oikcredit’s commitment to its social goals, initiate social performance projects and facilitate implementation of social impact assessment tools. Environmental, social and governance criteria have, in addition to financial return, always been a part of Oikocredit’s investment policy.”
The award was presented to Oikocredit Manager Social Performance Ging Ledesma at a ceremony in Amsterdam, the Netherlands, on October 12.
“As a social investor, we are committed to increasing transparency in the area of social performance management. We are thrilled to bring the Oikocredit Social Environmental and Governance Scorecard to the sector and encourage the importance of social performance management across the industry.”
To be eligible for the ESG award, Oikocredit was evaluated in four areas:
- Transparency of reporting
- Integration and enforcement
- Completeness of ESG framework
- Engagement and innovation
CGAP, issuing the award, received 32 applications. Only three microfinance investors (or MIVs) were selected to receive the CGAP MIV ESG Award for outstanding achievement in integration of ESG objectives. CGAP is an independent policy and research center housed by the World Bank, dedicated to advancing financial access for the world’s poor.
For more information on Oikocredit go to http://www.oikocredit.org
