WORLD RESOURCES INSTITUTEStatus: Completed investment
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Who is our customer
The World Resources Institute will act as FMO’s contracting party, undertaking work that will benefit in the first instance FMO’s Financial Sector clients in Paraguay, but also the global financial sector.
What is our funding objective?
The aim of this funding is to support the further development of Global Forest Watch (GFW) through creation of an application – GFW Finance - designed for the needs of financial institutions as they relate to environmental and social (E&S) risks relating to forests. It will provide near-real time information about forests, not only in Paraguay, but globally. GFW Finance will evaluate risks in forest commodity investments, identify potential E&S impacts, and track performance to meet internal and external reporting commitments, helping financial institutions focus their resources on what will have the greatest impact in their forest-related commodity investments and assets. It is also a workflow tool to support the process.
Why do we fund this investment?
This project is highly strategically relevant for FMO’s strategy in Paraguay as it lifts the quality of E&S management in the country’s financial sector. There is a good fit with FMO role as a sector-wide change agent in a country with urgent and challenging E&S dilemmas and few local incentives for improved E&S performance. The project addresses a pressing need for accurate and timely data for decision making and client engagement, and furthermore has utility beyond Paraguay.
- Latin America & The Caribbean
- Infrastructure, Manufacturing and Services
- Effective date
- End date
- Total FMO financing
- EUR 0.14 MLN
- ForeignAffairs - CD