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One of the world's biggest banks has taken a stand against climate change by investing in green energy projects in some of the world's poorest countries.
The move by Abu Dhabi's Alpen Capital is part of a trend of banks around the world trying to do more with less, the New York Times reports.
In India, for instance, the Tata Groupone of the world's biggest companies in the trucking industryhas taken a stake in a company that sells trucks to drivers who otherwise wouldn't be able to make a go of it.
In Africa, the African Development Bank has invested in a company that sells buses to drivers in some of the world's poorest countries.
"The Tatas fund this transaction.
So what we have done for them is taken the whole bucket of receivables, as we say," says Alpen's CEO.
"And is this sort of transaction going to become an important part of Alpen's strategy?" He tells World Finance that the company will "put some KPIs in place for different aspects of our business" over the next two to three years.
(Alpen released its first sustainability report earlier this year.)
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A customized collection of grant news from foundations and the federal government from around the Web.
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Social Entrepreneurship
Spotlight
3 Social Enterprises Earn Honors at Social Enterprise Award
Three social enterprises were recognized at the 2013 President’s Challenge Social Enterprise Award for their major contributions to society. SATA CommHealth and Bliss Restaurant landed Social Enterprise of the Year titles, while Bettr Barista Coffee Academy bagged the award for Social Enterprise Start-up of the Year.
