Posted on June, 28 2016

The International Investment Bank (IIB) has provided a €30,000 grant to WWF-Hungary for assessing and mapping water resource risks in Hungary. During a ceremony at 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 assessment of water resource risks is part of WWF’s global initiative.

The grant will finance the further enhancement of the Water Risk Filter (WRF) – WWF’s flagship corporate tool developed 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 the 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 that covers a large part of Hungary. The Tisza River is the biggest tributary to the 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 water resource management. “The changing climate brings water resources under pressure, thus 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 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 programmes with WWF Vietnam, and this year the bank began forming a green portfolio of securities.