Hydro Sustainability Fund and the United States Agency for International Development (USAID) have signed a Letter of Intent to promote sustainable development solutions in the Amazon that will improve the well-being of local communities and better conservation of the region's biodiversity. With PPA Solidarity, an initiative by USAID, NPI EXPAND, Partnership Platform for the Amazon (PPA) and SITAWI Finance For Good, the objectives are to support entrepreneurs in response to the Covid-19 pandemic.
Hydro Sustainability Fund is a non-profit organization created in 2019 to promote sustainable development and support community-based projects, based on the guidelines established under the Sustainable Barcarena Initiative. This is closely aligned with Hydro’s CSR strategy to educate and build capacity and contributes to Hydro’s Sustainability efforts and targets. The Fund is maintained by Hydro and Hydro’s Albras aluminium plant and Alunorte alumina refinery in Barcarena. It has an investment commitment of BRL 100 million (€15 million) over 10 years.
"Hydro is a partner committed to the territories where it operates, to hear from the communities about the challenges and solutions to build better municipalities for its neighbors. Through these partnerships, we intend to increase the value addition of new businesses, improving their organization, production, and commercialization," says Eduardo Figueiredo, director of Hydro’s Sustainability Fund.
"We believe it is possible to achieve in a collaborative way a more effective development based on sustainable solutions for the region."