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VF AzerCredit as a Semifinalist of 5th European Microfinance Award

VF AzerCredit as a Semifinalist of 5th European Microfinance Award


VF AzerCredit was one of the ten semifinalists of the 5th European Microfinance Award for which microfinance organizations from around the world had competed for. As a result, along with the winner of the 2014 series, nine other semifinalists’ initiatives, as reviewed by the selection committee, were included in the recent edition of European Dialogue No. 7, March 2015.

The European Microfinance Award was launched in October 2005 to support innovative thinking in the microfinance sector. Awarded for the first time in 2006, it is jointly organized by the Luxembourg Development Cooperation, the European Microfinance Platform (e-MFP) and the Inclusive Finance Network Luxembourg (InFiNe.lu) in cooperation with the European Investment Bank (EIB).

In recognition of increasing triple bottom line focus regarding the linkages between financial, social and environmental capital, “Microfinance and the Environment” was the selected topic for the 5th edition of the European Microfinance Award. Understanding that in case MFIs appropriately integrate environmental considerations into MFIs’ operating models, it can generate powerful benefits for both the institutions and their clients, by reducing environmental risks, and help MFIs and their customers achieve more sustainable revenues, the applicant institutions’ environmental performance and level of impact were evaluated, as well as their financial and social performance was taken into consideration.

VF AzerCredit being also committed to the idea that truly sustainable businesses must address the triple bottom line of economy, society and environment, stood out by having integrated the environmental assessment framework into the its primary business with the potential to encourage clients towards better environmental behavior.

Today VF AzerCredit is striving to achieve all the objectives set by its Environmental Policy, which has been developed to ensure the environmental soundness and sustainability of its operations, support the integration of environmental considerations into the decision-making process and promote responsible environmental attitudes both internally and externally.

To read all about these initiatives, please access the full content of European Dialogue No.7: www.e-mfp.eu/news-and-events/european-dialogue-no7-microfinance-and-environment

April 2015

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