Lea en español (traducido por Google) *** Lisez en français (traduit par Google)
Congratulations to FONDESURCO, our latest Institutional Action Plan Raffle Winner!
The following content and pictures were prepared by FONDESURCO. Submit your action plan today!
The majority of vulnerable populations live in tropical and subtropical regions, where climate change takes its greatest toll. The onset of droughts, floods, cyclones, and other weather events have a negative impact on the economic development of these countries often forcing large populations migrate.
The “triple bottom line”: economic, environmental, and social factors
Traditional energy technologies are largely inefficient and threaten the health of clients. FONDESURCO seeks to act responsibly in the communities the company serves. This is why they have developed friendly loan products with an eye to environmental conservation. Thus presents a triple challenge:
- Demand for a clean energy supply among those without it
- Need to provide clean energy at an affordable cost to the end-user
- Imperative to provide clean energy in an environmentally friendly way
Access to clean energy through microfinance
FUNDSURCO addresses the “triple bottom line” with heavy emphasis on increasing client access to clean energy through funding mechanisms like microfinace loans. Providing access to clean energy through funding mechanisms has increased FONDESURCO’s customer base in an environmentally responsible way. They have also established policies for the protection of the environment, in response to client demands.
FONDESURCO has developed environmentally friendly loans and policies placing ahead in the trend of green microfinance. Their efforts have not gone unnoticed; they have collaborated with internationally renowned institutions such as MicroEnergy International (MEI) and GIZ–international organizations with expertise in alternative energy projects. In 2011, they started the “Renewable Energy Solutions Program – BE,” partnering with Appui au développement autonome (ADA) of Luxembourg.
Hand in hand with their partners, FONDESURCO conducted a research study in diverse geographical areas where their products had potential. After considering a range of alternatives, the products chosen for deployment in a first pilot were (1) solar thermal baths and (2) improved ovens.
After piloting the solar ovens, FONDESCURO identified demand in various segments of micro and small businesses, such as hostels, hotels, restaurants, bakeries, cheese factories, and private homes, among others. FONDESURCO is the first microfinance institution to develop such a program in a predominantly rural area in Peru.
Application of other energy solutions through photovoltaic systems, solar heaters for productive use, provide an opportunity to generate multiple small business initiatives to meet local market demand. FONDESURCO is anticipating the development of these energy solutions in a second phase of development.
Watch FONDESURCO’s video to learn more about their programs (in Spanish)