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    • Devex Impact
    • Climate finance

    For MFIs, the future is 'go green,' or 'go broke'

    Microfinance institutions are uniquely positioned to deliver critical financial services to the people and communities most vulnerable to climate change. But as financing for mitigation and adaptation ramps up in the lead up to COP21, MFIs better think carefully about what it means to be "green," if they want to help their clients get climate-smart.

    By Michael Igoe // 23 October 2015

    Northeast Brazil boasts some of the world’s most beautiful beaches, ribbons of white sand tracing a region known as “a terra da felicidade” — the land of happiness; but venture inland and a harsh, semi-arid landscape with some of the country’s worst poverty emerges.

    Geographer Friedrich W. Freise, in a survey of the region, painted a bleak picture: “The principle disintegrating agent is solar heat, which is operative many hours daily from a cloudless sky. The cracking and splintering effect … is great, and the surface is therefore widely strewn with sand and dust.”

    Freise made these observations in 1938 and he commented — rather hopelessly — on the prospects for reforestation to restore natural watersheds. “There is strong evidence that man is utterly powerless here,” he wrote.

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    About the author

    • Michael Igoe

      Michael Igoe@AlterIgoe

      Michael Igoe is a Senior Reporter with Devex, based in Washington, D.C. He covers U.S. foreign aid, global health, climate change, and development finance. Prior to joining Devex, Michael researched water management and climate change adaptation in post-Soviet Central Asia, where he also wrote for EurasiaNet. Michael earned his bachelor's degree from Bowdoin College, where he majored in Russian, and his master’s degree from the University of Montana, where he studied international conservation and development.

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