CONTEXT
About Fair Finance International
Where finance goes today, the world goes tomorrow. Decisions of investors and banks have affected and continue to impact the shape of the economy and the livelihoods of millions. In an increasingly globalized world, Financial Institutions (FIs), such as commercial banks, Development Finance Institutions, Multilateral Development Banks, insurance companies, and pension funds, play a crucial role in the global distribution of financial means.
Fair Finance International (FFI) is an international civil society network of over 100 Civil Society Organizations (CSOs), partners, and allies. It was initiated by Oxfam Novib in 2009 and financed by the Swedish International Development Agency (SIDA) International since 2014. The network seeks to strengthen banks' and other FIs' commitment to social, environmental, gender, and human rights standards.
The biggest investors and other Financial Institutions are often based in higher-income countries; however, the potential negative impacts of their investments are felt disproportionately in developing countries. Infrastructure being financed today creates a lock-in for decades, and investments in fossil fuels, such as coal plants and oil pipelines, undermine the Paris Agreement.
FFI uses a rigorous and unique methodology for policy assessments to benchmark the investment policies of financial institutions. The policy assessments and FFI case studies enable fact-based dialogues with FIs and companies. This way, FFI promotes a race to the top, resulting in more sustainable lending and investments.
Assessments carried out by Fair Finance coalitions usually examine 8 core themes: Climate Change, Corruption, Human Rights, Labour rights, Nature, Tax, Transparency, and Gender. The other optional topics within the assessment are animal welfare, arms, health, the financial sector, fisheries, food, forestry, manufacturing, mining, oil and gas, corruption, power generation, consumer protection, financial inclusion, and remuneration.
Fair Finance (FF) coalitions are active in 20 countries, including; Brazil, Colombia, Peru, Bolivia, Cambodia, Pakistan, India, Vietnam, Indonesia, Thailand, The Philippines, Japan, Southern Africa, Germany, Belgium, Netherlands, Norway and Sweden, Fair Finance Asia.
In Uganda, FFI has previously built the capacity of CSOs to evaluate and monitor the policies and practices of FIs in providing financing and funding that recognizes and respects the social and environmental well-being of the identified beneficiaries in the extractives industries sector.
ABOUT THE PROJECT
With support from the Swedish International Development Cooperation Agency (SIDA), Fair Finance International will implement a 4-year project on Community Voices For Equitable And Sustainable Finance. The project aims to reduce poverty and uphold human rights, gender equality, and a better environment for ordinary citizens through changes in the financial sector in both developing and developed countries. The project aims at increasing the ability of Civil Society Organizations (CSOs) networks at the local, national, and global levels to influence financial institutions that are active in the economies of developing countries to tackle poverty, human rights abuses, gender inequality, and environmental degradation. The CSO networks seek to strengthen the commitment of banks and other Financial Institutions (FIs) to social, environmental, gender, and human rights standards.
The project will strengthen the capacities of community-based organizations (CBOs), CSOs, and existing Fair Finance (FF) coalitions in Bolivia, Peru, Brazil, Colombia, and Southern Africa and build new FF coalitions in Ghana, Uganda, and Nigeria. FFI will influence FIs, companies, and governments to improve Human Rights (HR), Gender, Environmental, Social, and Governance (ESG) regulations, policies, and practices.
FF Uganda will work through a loose CSO coalition/network, which will evaluate and monitor the policies and practices of Financial Institutions in providing financing and funding that recognizes and respects the social and environmental well-being of the identified project participants; while challenging investment and funding policies and practices of Financial Institutions and government regulations that continue to exclude millions from accessing quality social services in Uganda.
The Uganda Fair Finance Coalition will conduct capacity-building training for CSOs and CBOs on advocacy and campaigning to influence financial institutions (DFIs/MDBs) on human rights, gender, environmental, social, and governance policies. Case studies are planned on the transparency and accountability of IFIs (DFIs/MDBs) and financing for infrastructure and extractive industries (including oil, gold, and rare metals) projects in Uganda.
PROJECT AIM
To contribute to economic, gender, and climate justice in Africa and Latin America, by amplifying community voices for sustainable, equitable, and well-regulated Financial Institutions and companies.
Project Objectives
- Improving human rights, gender, environmental, social and governance policies and practices of companies in the priority sectors.
- Improving human rights, gender, environmental, social and governance policies and practices of financial institutions.
- Improving government (national and multilateral) regulations on human rights, gender, environmental, social and governance policies and practices of financial institutions and companies.
- Amplifying the voices of civil society organizations and community-based organizations for sustainable, equitable and well-regulated financial institutions and companies.
- Building Fair Finance coalitions and strengthening influencing capacities of civil society organizations and community-based organizations.
Expected Results
- Improved human rights, gender, environmental, social and governance policies and practices of companies in the priority sectors.
- Improved human rights, gender, environmental, social and governance policies and practices of financial institutions.
- Improved government (national and multilateral) regulations on human rights, gender, environmental, social, and governance policies and practices of financial institutions and companies.
- Amplified voices of Civil Society Organizations and community-based organizations for sustainable, equitable, and well-regulated financial institutions and companies.
- Strengthened influencing capacities of Civil Society organizations and Community-based organizations.
TARGET SECTORS
- Agribusiness
- Extractive industries
- Power generation
- Infrastructure
- Digital economy
FUNDED BY
- Swedish International Development Cooperation Agency (SIDA)
PROJECT DURATION
- 4 years (2024 - 2027)
GEOGRAPHICAL COVERAGE
- National
TOTAL BUDGET
- €281,694
