Continuing its practice of supporting environmental initiatives in its member states as a “green” development institution, the International Investment Bank (IIB) has decided to provide a EUR 30 000 grant to WWF Hungary for assessing and mapping water resource risks. During a ceremony as part of the Business Forum “Supporting Economic Growth in Hungary and the CEE Region”, IIB’s Chairman of the Board, Nikolay Kosov, presented the corresponding cheque to Katalin Sipos, Country Manager of WWF Hungary.

The grant will finance the further enhancement of the Water Risk Filter (WRF) – WWF’s flagship corporate tool developed together with DEG. Thanks to the funds, WWF Hungary will be able to obtain detailed country-specific data for Hungary, which will greatly increase the effectiveness and usefulness of this free online tool for local decision makers – public authorities, companies and local communities. This will enable WWF Hungary to repeat the success of this tool in other countries, where it is already widely used.

“Water-related risks can directly affect ecosystems and local communities. Poor water management in direct operations and within supply chains can force closure or relocation of economic facilities. WWF has identified 16 river basins across the globe as exceptional ecosystems under growing pressure. One of them is the Tisza sub-basin, covering large part of Hungary and with the river Tisza as the biggest tributary to the river Danube. The WRF not only assesses and maps the risks, but also provides practical responses to mitigate them, in an easy to use manner,” – said Katalin Sipos, Country Manager of WWF Hungary.

During the ceremony, Chairman of the IIB Board, Nikolay Kosov, underlined the importance of sound management of water resources. “The changing climate brings water resources under pressure, increasing water-related risks, and we want to support our clients in identifying and mitigating these risks in their business operations,” – he said. “I am pleased that together with WWF Hungary we are able to contribute to better water resource management by local users by supporting the enhancement of the Water Risk Filter, and I encourage Hungarian authorities and companies to use this free tool.”

Relaunched in 2012, the IIB has taken an obligation to promote the principles of environmental responsibility among its partners and customers, as well as to assess the environmental effects of the ongoing projects. The Bank also joined the largest international initiative in the area of corporate social responsibility – UN Global Compact. In 2015, the IIB also provided grants for programmes protecting rare animal species in Mongolia and Vietnam, including together with WWF Vietnam, and this year began forming a “green” portfolio of securities.

Reference

World Wide Fund for nature (WWF) is one of the largest non-governmental nature conservation organizations in the world, uniting around 5 million constant participants and operating in more than 100 countries. It was established in 1961.The WWF mission is to prevent the increasing degradation of the planet’s natural environment and to achieve harmony between man and nature. The main goal is preservation of the biological diversity of the Earth.