BII/Norfund ESG Trainings
Since 2017, Norfund has partnered with BII in supporting and building Environment, Social and Governance (ESG) knowledge of fund managers and their portfolio companies, by providing regular workshops across the countries where we invest.
The objective of the trainings is guiding businesses in the countries in which we invest on the successful creation, implementation, and evaluation of E&S Management Systems, and practical guidance on Human Resource Management, including organizational performance, labor risks and employee engagement. This knowledge equips attendees with the tools and understanding necessary to drive sustainable change in their respective organizations.
The demand for the workshops is increasing, and it is quickly becoming the largest training of its kind in emerging markets, reaching a significant proportion of the private equity industry in areas we invest, particularly in Africa.
Previously, the training targeted fund managers, but the training has successfully been expanded to also include representatives from direct investees and employees from DFIs. Throughout both the physical and digital training during the year, there were over 1,000 participants, with 156 participants coming from Norfund’s portfolio and representing over 25 companies.
“ I attended all 3 days of the in-person ESG workshop in and it was a wonderful learning experience.”
Krishna Yarlagadda Chaitanya of Enel
Norfund’s support: 50,000 GBP (20% of total costs)
Intervention Period: October 2022-August 2024
Number of participants sponsored in 2023: 156
Banco BDI ESMS Development
Norfund has an ongoing Business Support project to assist Banco BDI, the 10th largest bank in Dominican Republic, in the development of their Environmental and Social Management System (ESMS). Banco BDI is one of a few banks with SMEs as its main focus in Dominican Republic. Having an ESMS aligned with international good practices will allow the bank to enhance risk management capabilities, anticipate compliance with regulation and open opportunities for further investment from EDFIs and other like-minded investors.
In order to build up their ESMS, a consultant was engaged to provide training to the management team and support the bank on the development of policies, tools and procedures for E&S risk management. By embedding environmental and social considerations into strategic decision-making, the bank can unlock new market opportunities, and drive long-term value creation, while demonstrating a commitment to sustainability that resonates with customers, investors, and the community at large.