Can renewable energy microfinance promote financial inclusion and empower the vulnerable?
Document Type
Article
Publication Date
1-1-2023
Abstract
Energy microfinance is a promising asset for ensuring access to finance and electricity for the poor and women living in rural areas. Targeting vulnerable categories, renewable energy microfinance tools aim to promote sustainability and resilience policies to foster sustainable energy and ecological transitions. This research note explores the role of energy microfinance policies in facilitating virtuous loops for empowering the vulnerable, enhancing entrepreneurship, fighting poverty, and promoting social inclusion and environmental protection – as prescribed by the sustainable development mandate. Examining the microfinance-renewable energy-vulnerable nexus, the paper proposes a conceptual contribution and fungible development policy recommendations, sketching the main drivers of this linkage. To this end, a critical review of existing publications and successful world experiences is proposed. The analysis finds out a relevant potential for energy microfinance, whereby renewable energy expansion can be a strong player in shaping fresh microfinance strategies and prospects, providing ecological, social, economic and governance benefits and new research, policy, and practical agenda.
Publication Title
International Journal of Environment and Sustainable Development
First Page Number
368
Last Page Number
373
DOI
10.1504/IJESD.2023.132092
Recommended Citation
Gatto, Andrea, "Can renewable energy microfinance promote financial inclusion and empower the vulnerable?" (2023). Kean Publications. 328.
https://digitalcommons.kean.edu/keanpublications/328