The initiative aims to support green and circular economy enterprises across Colombia, Peru, and Brazil, generating jobs and also supporting local communities and Indigenous groups.
NESsT, a global impact investor and venture philanthropist, has partnered with the Swedish International Development Cooperation Agency (Sida) to invest in green enterprises that generate jobs in South America while supporting Indigenous Peoples and local communities.
The multi-year initiative between NESsT and the Swedish philanthropic government agency aims to scale 20 green and circular economy enterprises across Colombia, Peru, and Brazil.
NESsT told Impact Investor it uses strict criteria to assess business viability, social impact, and team composition when selecting the enterprises for the programme.
As such, the firm said that enterprises must have the capacity to employ or improve the income of 50 to 150 marginalised individuals over three years. Furthermore, priority is given to businesses that support communities such as Indigenous Peoples, women, ex-combatants, migrants, and other underserved groups, NESsT added.
“NESsT’s efforts to promote Indigenous Peoples and local communities and green value chains ensure our investment strategy has a direct impact on the conservation of ecosystems like the Amazon rainforest, along with other actions that help us address climate change,” a NESsT spokesperson added.
The programme will also focus on scaling enterprises within green value chains that prioritise environmental sustainability such as circular economy solutions, renewable energy initiatives, and sustainable agriculture enterprises.
Partnerships
Each of the 20 enterprises supported by Sweden will form a partnership with at least one corporation, either Swedish, national, or international, to help them gain access to new markets, NESsT said.
“With Swedish commitment in our South America Accelerator Program, we can strengthen our efforts to drive sustainability and economic inclusion in underrepresented communities,” said Chad Sachs, CEO of NESsT.
He said that in addition to providing essential financial and operational support, the collaboration also “fosters long-term partnerships that amplify the impact of these enterprises in addressing regional inequality and environmental challenges. Our nearly three decades of experience working with social enterprises have shown the immense potential of connecting these businesses with the resources they need to thrive.”
Climate action
Since 2019, all enterprises in NESsT’s programmes are required to report on their environmental impact. Currently, 19 out of 86 supported companies focus on climate-related solutions, including sustainable agriculture, forest restoration, and clean energy.
Last year, NESsT and IKEA Social Entrepreneurship announced that nine social enterprises had joined its joint South America accelerator programme, as reported by Impact Investor.
“Through innovation and collaboration, this program makes evident how public, private, and non-profit sectors can come together to drive measurable change,” said Helena Storm, Swedish Ambassador to Colombia.
“By raising awareness with Swedish corporations and fostering cross-sector partnerships, we are working together to advance sustainability and equity. We are building a model for inclusive, long-term impact,” Storm added.
