Within the framework of the Renewable Energy Innovation Fund (REIF), the program's partner banks participated in a specialized training on E&S Impact and Risk Analysis, with the support of the United Nations Development Program (UNDP).

REIF, which is financed by the United Nations Joint Sustainable Development Goals Fund (Joint SDG Fund), has as its main objective to boost the decarbonization of industry and transportation in Uruguay. This is achieved through an innovative financing mechanism that catalyzes private sector investment in collaboration with banking entities.

This program works closely with commercial banks to integrate a sustainability perspective into the financial sphere. In this line, a specific methodology has been developed for the evaluation of risk and social and environmental impact, as well as for measuring the impact of the REIF, which supports and promotes the co-financing of projects and technologies aligned with the Second Energy Transition in the country.

The workshop, held on March 7, was attended by personnel from the seven banks that have agreements with the program: BBVA, BROU, Heritage, HSBC, Itaú, Santander and Scotiabank. The workshop was led by Ester Zaha and the UNDP team, who, after their presentation, proposed an interactive role-play activity, where the methodology learned was put into practice.

The training provided practical and strategic tools based on the REIF methodology to properly assess the risks and impacts associated with renewable energy investment projects and propose effective mitigation measures. In addition, the relevance of considering not only financial aspects, but also social and environmental impacts when making banking decisions was reaffirmed.