Publication of Stories of Change

Tuesday, April 16, 2019

We are very happy to be able to share FFGI's stories of change 

The mission of the Fair Finance Guide International (FFGI) – to influence finance into driving sustainable practices throughout the rest of the economy – is becoming more relevant on a global scale. Over the last few years, there has been a gradual paradigm shift, as financial institutions realize the opportunity that exists in investing in development, conservation and natural capital. Likewise, bank and insurance group clients as well as beneficiaries of public pension funds are increasingly demanding investments in this realm; ultimately indicating that people want to see their money being invested in goods and services that are both socially and environmentally beneficial.

Nevertheless, sustainable and responsible finance as the norm is still a long way from being realized and has yet to meet the global demand for investment to eradicate inequality and preserve the planet’s critical ecosystems. Hence, the efforts of FFGI to pressure financial institutions into contributing to this global agenda have never been so important.

In order to illustrate how the work of the FFGI contributes to current pressing issues surrounding human rights, poverty, inequality and climate change – to name a few – we worked on a series of stories of change which highlight the impact of the current nine national Fair Finance Guides (FFGs) and connect them to the bigger picture. The 9 stories below describe how the coalitions’ various activities – greatly supported by their partners – have influenced financial institutions and the companies in which they invest, in turn generating impact on the ground.

The stories of change in this document all follow the same path – starting with defining the problem in question.

When the problem has been identified, the influencing activities of the relevant FFG(s) and its/their partners are described. In relation to the Theory of Change framework, these activities are the inputs of each national coalition, which will hopefully lead to a certain change in the activities or attitudes of the financial institution(s) in question.

After this, the changes in financial institutions or other actors influenced are stated and correlated with the influencing activities. Next, any actual changes in the companies invested in are mentioned as, ideally, the change in a financial institution will lead to a corresponding shift in the policies or actions of the companies that they finance.

Finally, having described the inputs and the relevant outcomes, the impact that these outcomes have had in the country concerned are described.

The Stories of Change contain the following 9 stories:

  1. Protecting workers in Bangladesh’s garment industry  – FFG NL
  2. Working to end labour rights violations in India’s granite quarries  – FFG NL
  3. Highlighting the link between Swedish banks and human rights in Nigeria and DRC  – FFG Sweden
  4. Overcoming over-indebtedness in Brazil  – FFG Brazil
  5. JBIC divests from controversial coal-fired power plant project in India  – FFG Japan
  6. The unheard protests of people in Cirebon, Indonesia  – FFG Japan, FFG Indonesia, FFG NL, FFG Belgium
  7. A century of exploitation; no sign of compensation, Peru  – FFG Belgium
  8. ING tightens its energy policy, Dominican Republic  – FFG NL
  9. The ongoing struggle to end banks’ relationships with controversial palm oil companies – Indonesia: FFG Sweden; FFG Norway; FFG NL; FFG Indonesia

Read the full report here

download the complete document


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