Grameen Bank reversed conventional banking practices by lending to the poorest people. The basic idea is that all humans are entrepreneurs. They just need the opportunity to lift themselves out of poverty. Micro-credit has been the tool to do just that for millions. Unlike philanthropy it has proven scaleable and with great spin-off effects. Mr Yunus calls it social business.

Muhammad Yunus presented the notion of social business at the World Business Forum in Milan. He also stopped by the DNV stand, where an ice sculpture of a polar bear symbolised the climate challenge we are all facing.

Fighting climate change with social business
Mr Yunus has created many other businesses based on the success of Grameen Bank. One of them is Grameen Shakti (or Grameen Energy), which combines the concept of micro-credit with renewable energy solutions for the poor.

Mr Yunus’ home country Bangladesh is often referred to as the country most vulnerable to climate change. But that is just one side of the story. Grameen Energy has developed a solar home system and a bio-gas solution to create clean energy for the masses. In a country where most rural areas are without electricity, the availability of electrical power is enabling rural artisans and traders to stretch working hours, creating extra income. The solar technology has opened up many new business opportunities in the villages: Mobile phone charging shops, TV halls, computer training centers and pay phone services. Run by entrepreneurial villagers with micro-credit.