Strategic Priorities
Promoting employment and ensuring decent work for all is a key goal of the 2030 Agenda for Sustainable Development. This priority is fully embraced by the Belgian development cooperation and lies at the heart of BIO’s mission. Supporting decent work is therefore a integral part of BIO’s official mandate, and a central focus of its strategy and day-to-day operations.
BIO’s efforts are guided by Sustainable Development Goal 8 — which calls for inclusive and productive employment — as well as the International Labour Organization’s Decent Work Agenda. This agenda is built around four core pillars: promoting jobs and enterprise, securing rights at work, expanding social protection, and encouraging social dialogue.
In line with its Theory of Change, BIO aims to support the creation of more jobs that are both inclusive and high in quality. By focusing on both the number and quality of jobs, BIO contributes to sustainable economic growth through increased productivity, stable employment, and safer, healthier workplaces.
To better understand its impact in this area, BIO commissioned an independent evaluation of its contribution to decent work. This assessment was conducted by consulting firm Steward Redqueen between April and December 2023.
Conference by trade unions on shrinking civil space
On 7 October 2024 - the International Day for Decent Work – BIO attended a seminar organised by the Coordination Platform for Decent Work (CPDW) called ‘Attacks on Civil Society: Democracies in Danger!’. During the seminar, CPDW’s partners spoke about shrinking civil space, democracy, and social dialogue. The seminar addressed both the challenges faced by civil society around the world, its crucial role in defending democracy, and how unions and social movements are mobilizing all over the world.
Key speakers were the Deputy General Secretary of the International Trade Union Confederation, the General Secretary of the Confédération générale des travailleurs au Bénin, the Head of the Asia Region at StreetNet and the Director of LEDRIZ (the research institute of the ZCTU trade union confederation in Zimbabwe).
Human Rights
BIO is fully committed to respecting all human rights outlined in the International Bill of Human Rights and the ILO Declaration on Fundamental Principles and Rights at Work. We follow international human rights standards as defined in the UN Guiding Principles on Business and Human Rights (UNGPs), and we align our actions with the OECD Guidelines for Multinational Enterprises — including those specifically tailored for responsible business conduct by institutional investors.
Our country remains — especially in these polarised times — a steadfast advocate for the universality of human rights. Human rights are inherent to all human beings, regardless of skin colour, origin, gender, or sexual orientation. No tradition, religion, custom, or culture can ever justify violations of these rights, such as gender-based violence. Our efforts must be focused on long-term, sustainable change.
BIO has formulated a human rights policy and integrated human rights into its organisational structure and investment process to deliver on this human rights commitment. The respect and application of those international standards translate into the integration of stakeholder engagement principles, responsible exit strategies, and the identification of a methodology that allows for determining the level of responsibility for accessing remedies.
Responsible Microfinance
BIO’s Development and Sustainability Department, in collaboration with our local liaison office, organised a workshop on microfinance in Abidjan. The event brought together 16 microfinance institutions from 9 French-speaking African countries to explore tools for responsible and sustainable growth.
Over two days, BIO and expert partners from the Cerise+SPTF network led sessions on Environmental and Social Performance Management. Key topics included the risks of over-indebtedness, the importance of setting up grievance mechanisms, and other essential practices for ensuring responsible financial services.
In 2024, BIO updated its gender strategy to better be able to support gender equality and women's economic empowerment. Building on what we've already achieved, this new strategy sets more explicit targets and provides a complete framework for 2024-2028, matching the ambitions of our new management agreement.
On the occasion of the U.N. International Women’s Day - and in the spirit of #TeamBelgium - the director-general for Development Cooperation (DGD), Enabel, and BIO’s chairwoman have been celebrating inspiring and resilient women who are making gender equality a reality in the field. They showcase incredible entrepreneurs who are putting gender equality at the heart of everything they do, driving change!
Tisya Mukuna is a Congolese entrepreneur and founder of Café La Kinoise, a coffee factory that is helping revive the coffee industry in Kinshasa.
Tisya talks to our president, Géraldine Georges, about her experience as a woman in a male-dominated industry, and her hope that women learn how to be more confident and motivate themselves.
In Rwanda, the organisation Pro-Femmes/Twese Hamwe has been working for over thirty years to promote the socio-economic development of women and gender equality in Rwandan society.
Marie Mediatrice Umubyeyi, its deputy director, shares her thoughts with Heidy Rombouts, PhD, DG of the DGD, on the work and initiatives of the organisation, as well as on the commitment of men in the cause of gender equality.
Latifa Younous is facilitator of the PAGIE project that supports the creation and development of women's cooperatives in date cultivation in Morocco.
Latifa talks to Enabel general manager Jean Van Wetter about her experience and the positive evolution of the role of women in the region.
2X
BIO is a member of 2X Global, a global organisation dedicated to unlocking gender-smart capital on a significant scale. It is an initiative launched at the G7 Summit in 2018 which seeks to inspire DFIs to concentrate their financing efforts on advancing women's economic empowerment and fostering gender equality. This challenge calls for directing resources towards initiatives that enable women in developing nations to access leadership opportunities, quality employment, financial support, enterprise resources, and products and services that promote the inclusion of women and girls.
The qualifying projects demonstrated 2X alignment in various ways, most frequently meeting the criteria under the Employment (10 projects) and Leadership (8 projects) dimensions. As from July, the updated 2X Criteria (including the Governance and Accountability dimension) have been more systematically assessed and strictly required for 2X eligibility.
At the beginning of 2024, BIO approved its new strategy on climate and the environment, aligned with the new management contract and the updated Strategic Impact Framework.
The strategy focuses on three strategic priorities, incorporating the three environmental impact targets.
- Priority 1: Do no significant harm to long-term climate & ecological sustainability.
- Priority 2: Mainstream climate and ecological sustainability in BIO’s investments
Support investments that include actions for climate transition (SIT 8) or for nature and biodiversity protection (SIT 9). - Priority 3: Increase climate and nature-positive finance ambition
Support investments that contribute substantially to climate change mitigation and adaptation (SIT 7).
Adaptation in cooperation
To stay safe, stable, and prosperous, we need to keep paying attention to the risks and effects of climate change—both now and in the future. It’s a global problem that affects us all. With the world becoming more complex politically, it's important that we keep pushing for strong climate and environmental action, not just for ourselves, but also out of solidarity with others. Belgium will do its part and act as a reliable and connecting voice on the international stage.
Our development work will focus on helping the most vulnerable countries adapt to climate change. In that context, we’ll put Belgian know-how to good use by supporting sustainable food systems and the protection and responsible management of nature and biodiversity.
Maxime Prévot , Deputy Prime Minister and Minister of Foreign Affairs, European Affairs and Development Cooperation
Climate mainstreaming
One of BIO's climate priorities is to mainstream climate and ecological sustainability in BIO’s investments. BIO will focus on strengthening the climate and ecological sustainability of its clients that are willing to commit to low-carbon, resilient and nature-positive operations. Climate actions will also support the goal to align BIO’s portfolio with the transition of the global economy to net-zero emissions by 2050, in line with the Paris Agreement.
Example
Since 2019, Access Bank has been taking steps to support the transition to a low-carbon economy. They've raised money through green bonds in 2019 and 2022, and are creating three green products to support the growth of clean industries, such as solar power, green buildings and waste management.
Our investment in this bank is helping them adopt the best international practices to manage and reduce the risks associated with climate change. This includes the bank: (i) tracking its greenhouse gas emissions from its own operations and the projects it finances; (ii) considering how the shift to a greener economy could affect its investments; (iii) following Nigeria's plan to achieve net-zero emissions by 2060. BIO also helped them integrate climate action into their environmental and social plans, including being open about their climate efforts using international standards.