Millennium bcp Microcredit is a case study in the new BCSD library
The Business Council for Sustainable Development – BCSD Portugal has recently released a new case studies' library, an online venue that gathers benchmark cases of its associate companies covering six thematic areas: carbon neutrality, natural capital, value chain, circular economy, sustainable cities and sustainable finance. Summaries of sustainability best practices are made and shared with associates and other stakeholders, mainly the academy and the media, aiming to support the business sector and the community in general in building more sustainable projects.
In this initial stage, Millennium bcp is present with a case study on Microcredit, within the Sustainable Finance theme.
Although with reduced weight in the bank's overall activity, Microcredit contributes to pursuing the United Nations Sustainable Development Goals (SDGs) and to Millennium bcp's social responsibility policy, in particular regarding social inclusion and job creation. Microcredit continues to be recognised as an effective tool to counter poverty and social exclusion, adding to the production of social wealth and to improving the image and appreciation of microentrepreneurs.
Launched on November 6, 2005, Millennium bcp Microcredit aims to support entrepreneurship and fight social exclusion, with the main beneficiaries identified as the unemployed, micro-companies, young graduates, immigrants, and retirees. Throughout its years of activity, Millennium has helped microentrepreneurs create job opportunities which encourage self-esteem and personal dignity, in gaining their socioeconomic autonomy, and has contributed to the creation of over 7,000 jobs.
In 2020, due to the macroeconomic environment caused by the pandemic, Millennium bcp Microcredit has been considerably increasing institutional contacts, and one of its top strategic priorities is the promotion of this financing model and of entrepreneurship in the country's different regions.
Business Council for Sustainable Development (BCSD) Portugal is a non-profit company-based association that aggregates and represents more than 90 leading businesses in Portugal, which are actively committed to the transition to a sustainable world.
We help the member companies in the journey towards sustainability, promoting positive impact for stakeholders, society and the environment.
We have a wide business sector representation and companies of different sizes, from the PSI20 companies to micro-enterprises.
The sales volume of BCSD Portugal's members represents 38% of the national GDP or 65 billion euros in turnover, with more than 270 thousand employees.
BCSD Portugal is part of the World Business Council for Sustainable Development (WBCSD) network, the largest international organization working in the area of sustainable development, with more than 200 associated companies in different countries and 68 independent organizations on five continents, which together represent more than 20 thousand companies and an international network of partnerships.