'The Green Index 3.0: Mainstreaming Green Inclusive Finance'

- Read the publication -

The e-MFP Green Inclusive and Climate Smart Finance Action Group (GICSF AG) has developed and implemented the Green Index since 2014. In 2022 the GICSF AG released the Green Index 3.0. The third version of the Green Index provides a major step forward for the sector. It has been designed based on the experience and knowledge accumulated over the past 7 years of implementation of the previous versions, the analysis of 1.000+ environmental performance assessments, the review of, and in alignment with, existing international initiatives, standards and reporting frameworks for ESG, environmental performance, and climate risks/finance, and the engagement of 500+ stakeholders, including GICSG AG members, in the development and review of the tool in the period 2020-21.

The Green Index 3.0 is moreover aligned with the new Environmental Dimension of the Universal Standards for Social and Environmental Performance Management (USSEPM), developed by the joint work of the GICSF AG and Cerise+SPTF.

  • For a conceptual introduction to the Green Index 3.0, please click here 
  • For a short training on the content of the Green Index 3.0, please click here

To learn more about the Green Index 3.0, we invite you to read the publication here, as well as to explore its digital tool for self-assessment or evaluation, and its trainings recordings (in English (presentation in EN), español (presentación en ES) and français (présentation en FR)). 


To illustrate how the framework can be useful to the institutions looking for learning about good practices in green inclusive finance and willing to share their own good practices, the Green Map team prepared a series of case studies exploring the experience of different FSPs across the world in relation to a specific Essential Practice.

We are grateful to these FSPs for sharing with us and the sector their experiences:

Case Study EP1 - Assilassimé Solidarité

English / Español Français

Case Study EP1 - Chamroeun

English / Español Français

Case Study EP2 - Fortune Credit

English / Español Français

Case Study EP2 - Fundación Génesis Empresarial

English / Español Français

Case Study EP3 - COMUBA

English / Español Français

Case Study EP3 - Bancamia

English Español Français

Case Study EP4 - Tamweelcom

English Español Français

Case Study EP4 - CACMU

English Español Français

Case Study EP5 - Caurie MF

English Español Français

Case Study EP5 - Muktinath  

English / Español Français

Case Study EP6 - RENACA

English / Español Français

Case Study EP6 - Banfondesa

English / Español Français

Case Study EP7 - Pula

English / Español Français

Case Study EP7 - Annapurna

English / Español Français

Case Study EP8 - ASKI

English / Español Français

If you want to do a self-assessment or an expert assessment, please contact us, so that we can provide you with a dedicated link and database.

The Digital Solution for the Green Index 3.0 is a flexible solution, freely available for the full sector. It is available in English, French, Spanish and more languages. It can be used to explore the Green Index 3.0 as a “demo”, to fill self-assessment, or to receive an expert audit.

The GICSF AG can provide support to interested FSPs and investors to undergo an expert audited Green Index 3.0 assessment, 

as well as receiving guidelines for the improvement of their environmental performance. The GICSF AG also provides support to all stakeholders in term of training on Green Index 3.0, the use of the digital solutions for environmental assessment, training of trainers, and data analysis on green inclusive finance performance, among other services. Please contact us if you are interested: jafonso@e-mfp.eu.

The digital solution for the Green Index 3.0 is developed by HEDERA, IT Partner of the GICSF-AG. It has been conceptualized by Davide Forcella, Natalia Realpe Carrillo and Alfonso Caiazzo, and it has been developed by Alfonso Caiazzo (HEDERA).


See below the previous versions of the Green Index: 

Green Index 2.0 (2016)pdf or digital version

Prepared by the e-MFP Microfinance and Environment Action Group under the coordination of the Group co-heads: Marion Allet (PAMIGA), Geert Jan Schuite (ENCLUDE), Davide Forcella (CERMi) and Raluca Dumitrescu (MicroEnergy International), October 2016. 

This is the second publication of the Action Group on the Green Index and marks the first review of the tool (Green Index 2.0). The Green Index was created in 2014 (see here) as an innovative tool to assess the environmental performance of microfinance institutions. The development of such a tool had as objectives to foster reflection on environmental responsibility and the triple bottom line approach in microfinance; promote the integration of green indicators in microfinance performance assessment tools (such as social performance management tools); and have a pedagogical approach by disclosing the main environmental strategies that can be adopted and implemented by an MFI. 

Green Index 2.0 describes the update process and details the standards, essential practices and indicators included which are also in SPI 4 as an optional module. 

Green Index 1.0 (2014): Read the initial version of the Green Index