The School of Economics and Management of the University of Minho (EEG) is proud to announce that Maria Zenaida da Rocha Costa Neves Leite, a PhD student in Business Sciences, presented her doctoral thesis entitled ‘Microfinance institutions managers’ motivation towards green microfinance: The case of Cape Verde and Brazil’ on 28 October 2024.

In the words of the author, "The study addresses an emerging, innovative, and still little explored topic since interest in this subject began to gain dimension in the second decade of this century. In this sense, the author considers it a great challenge, but she took it on, knowing that she would be contributing both to theory in the field of green microfinance and to its best practices.

This study analyzed the motivations and barriers of managers of Microfinance Institutions (MFIs) to develop green microfinance products, promoting sustainable practices in Cape Verde and Brazil. Although MFIs contribute to poverty reduction, some projects or activities they finance are considered environmentally harmful.

The study's results highlight managers' personal motivation to support green projects but also highlight limitations contributed by external factors, thus providing insights for more appropriate environmental policies for the sector. For example, it proposes that a green approach be taken towards MFIs, and in this aspect, the role of Governments is fundamental.

Specifically, Governments must provide MFIs with technical, financial, legal and regulatory tools and instruments to ensure, with the necessary speed, the implementation of green microfinance in their institutions. Investors and donors must facilitate the process, requiring MFIs to adopt environmental criteria for selecting projects or activities to be financed. Supervisory bodies must expand their field of supervision in this sector, including the environmental dimension. MFIs must: i) introduce environmental issues into their internal policies and procedures; ii) provide their organizations with a "green" budget aimed at training their employees, raising awareness among their customers about preserving the environment and acquiring new technologies to facilitate the innovation process and reduce operational risks."