Climate change

and sustainability
consulting practice

MSC (MicroSave Consulting)

The world’s local expert in financial, economic,
and social inclusion in the digital age
October 17, 2023
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MSC is recognized as the world’s local expert in economic, social and
financial inclusion
Some of our partners and clients

International financial, >200 staff in 9 Projects in ~68

social & economic inclusion offices around the developing countries
consulting firm with 25+ world
years of experience
Our impact so far

>550 >1,300
clients publications

Assisted development of digital

Implemented
G2P services used by
>875 million people >875 DFS projects

Developed
>275 FI products Trained >10,500
and channels now used by leading FI specialists globally
>55 million people

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Sectors we work in
Providing impact-oriented business consulting services

Banking, financial Water, Micro, small, Social

Government
services, and sanitation, and and medium payments
and regulators
insurance (BFSI) hygiene (WASH) enterprise (MSME) and refugees

Climate
change
Education Digital and and Health and
Gender Agriculture Youth
and skills FinTech sustainability nutrition

Multi-faceted expertise
Advisory that helps you succeed in a rapidly evolving market

Policy and Products and Research and Organizational Digital technology Catalytic
strategy channels analytics transformation and channels finance

Design thinking Marketing and Government and

Training Data insights
and innovation communicatio regulations and policy
n

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Our approach to climate change adaptation and mitigation
Greater integration of climate change Creation of alliances and forums to allow Enhancement of development sector
considerations into development sector development sector players to share players’ knowledge of climate change’s
programs knowledge and experiences impact and pathways to resilience

In several of our existing and

new programs funded by the
Gates Foundation, we
examined how well poor MSC chairs the Climate Resilient
people can adapt to the Agriculture and the Elevating the Voices We supported DWM’s initiative to inform
impacts of climate change of Affected People working groups at the its investee companies’ (financial
through improved livelihood CIFAR Alliance. The Alliance’s mission is institutions) climate action strategy by
choices, access to finance, and to accelerate responsible innovation in developing a tool for the investee
access to government benefits. digital finance for climate adaptation and companies to self-assess their
resilience. contribution toward climate change,
climate action, and their level of
preparedness against climate risks.

Similarly, we have been working with

MSC has also created the global Climate
AGRA in Africa on sustainable food
Resilience Agriculture Virtual Club
systems transformations, agricultural
(CRAgVC), whose mission is to enable We conducted in-depth studies to
risk management mechanisms, and
innovative digital solutions to drive enhance the understanding of the impact
financing instruments in agriculture
transformative changes in smallholder of climate change on poor people and the
sector interventions.
farmers’ climate resilience. role of financial services to support their
coping strategies.

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Strategic focus areas in climate change adaptation and mitigation

Climate-resilient 01 Climate finance 02 Clean energy 03 Urban resilience 04

agri-food systems

1.1 Climate-resilient smallholders 2.1 Catalytic finance for climate 3.1 Renewable energy for 4.1 Resilience against extreme
Strengthening the resilience of action agriculture heat
smallholder farmers against climate Promotion of catalytic finance to Support to develop and deliver Strengthening urban poor people’s
change through the promotion of unlock commercial financing toward private sector-led financing of DRE resilience against the impacts of
locally-led adaptation techniques climate action (distributed renewable energy)- extreme heat
powered agricultural solutions
1.2 Carbon-smart farming: 2.2 Inclusive financial products for 4.2 Resilient water supply and
Promotion of on-farm carbon climate action 3.2 Clean cooking solutions sanitation facilities
sequestration and reduction of Support to develop and deliver Support to develop and deliver Support to develop and deliver
greenhouse gas emissions through private sector-led, green inclusive private sector-led clean cooking private sector-led financing of
climate-smart agriculture practices financial products financing products extreme weatherproof water
supply and sanitation systems
2.3 Climate and disaster risk 3.3 Distributed Renewable Energy
1.3 Sustainable agriculture financing (DRE) for SMEs
Driving the adoption of sustainable Support to the public and private Support to develop and deliver
agricultural practices, such as soil sectors to develop and deliver private sector-led rooftop-solar
health management, efficient water climate and disaster risk financing financing products
resources management, and localized mechanisms and instruments
production and consumption

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Services offered

01 02 03 04 05

Research and Strategy Technical Tools and Project

insights formulation advisory and framework implementation
support capacity development support
development

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Our flagship projects in Asia and the Pacific
Deep research into climate change’s
impacts and how vulnerable communities
have been responding to it
CGAP engaged MSC to work with Decodis to understand
how climate change affected vulnerable communities in
Bangladesh, India, and Nigeria. The research examined
how these communities have responded, what role
financial services have played, and what role they
should play to support climate resilience and
adaptation.

CGAP and MSC then convened a workshop to discuss the

report and fine-tune CGAP’s climate change strategy.

Developing a reference document to aid the

Catalyzing private sector financing of electric
formulation of Fiji’s sovereign CDRF strategy
two- and three-wheelers in India

The World Bank, in partnership with India’s NITI Aayog and UNDP engaged MSC to develop a comprehensive guidance
SIDBI, launched the Electric Vehicle Operations and Lending note to inform the Government of Fiji’s Climate & Disaster
for Vibrant Ecosystem (EVOLVE) risk-sharing program to Risk Financing Instruments (CDRFI) strategy. An instrument
encourage banks and non-banking financial companies to highlighted by the guideline document was private sector-led
finance electric two- and three-wheelers. parametric insurance products for the agriculture sector.

SIDBI hired MSC as the lead consultant to structure a partial Based on the guidelines, the Fijian Government, with UNDP’s
credit guarantee and low-cost loan facility. MSC was also support, developed and launched a market-based parametric
tasked to design the facility’s operating structure and bring insurance product. By the end of 2021, 1,388 beneficiaries
on board 10 financial institutions to the facility. had registered for the product, of whom 442 (32%) were
women.

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Our flagship projects in Africa
Technical advisory to develop NDVI-based
digital microinsurance for an Ethiopian
FinTech company

In 2016, MSC extended technical advisory and capacity-

building support to Kifiya Financial Technology PLC, an
Ethiopia-based payment service provider. MSC’s support
enabled it to translate the idea of an NDVI data-based
digital crop insurance into a product. The program
secured the Ethiopian government’s support to train
more than 100,000 farmers in 2017 and a commitment to
a direct premium subsidy for 200,000-plus farmers.

Advice on marketing strategies to scale up the Mainstreaming climate risk and resilience
adoption of a seed replanting guarantee consideration through capacity development
program in Kenya of local governments in Uganda
In 2016, MSC agreed to offer technical assistance to ACRE The UNDP hired MSC to develop a module on mainstreaming
Africa with financial support from the Alliance for Green climate change, climate risk management, and resilience
Revolution in Africa (AGRA). MSC conducted a qualitative building for local government managers and Ugandan leaders.
primary survey that involved farmers, input dealers, and The module would be delivered through the Civil Service
agrovet extension agents. The survey identified that College Uganda.
communication gaps at the level of various stakeholders
stifled the product’s marketing and distribution. The module intended to develop the capacities of local
Based on its assessment, MSC designed a comprehensive government officials. Through it, officials could formulate
marketing plan for ACRE Africa. locally-led strategies that mainstreamed climate action in the
planning process to manage climate risk.

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Engagement summaries
⮚ Climate and disaster risk financing
⮚ Climate-resilient agriculture
⮚ Distributed renewable energy
⮚ Electric mobility financing
⮚ Elevating the voices of affected people
⮚ Energy and natural resources
⮚ Private sector engagements

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Climate and disaster risk
financing

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Guiding climate and The challenge
The Pacific Insurance & Climate Adaptation Program sought to drive the
Expected outcome

disaster risk financing market in Fiji for climate and disaster risk insurance. However, Fiji currently • Based on the guidelines
in the document, the
lacks a sovereign climate and disaster risk financing and insurance (CDRFI)
strategy formulation strategy that could serve as a framework for policymaking. Fijian Government with
UNDP’s support led the
Without a CDRFI strategy, Fijian Ministries and the Reserve Bank of Fiji cannot development and launch
Development of a reference formulate enabling policies and regulations to help develop the country’s of a market-based
document to help formulate CDRFI market. parametric insurance
product.
Fiji’s sovereign CDRF strategy
• By the end of 2021, a
total of 1,388
Our engagement beneficiaries had
UNDP engaged MSC to develop a comprehensive reference paper to inform the registered for the
CDRF strategy formulation. The reference paper provides insights and guidance product, of whom 442
on the following aspects, among others: (32%) were women.
• CDRFI’s importance for Fiji, considering its vulnerability to climate change
and disasters;
• Assessment of current mechanisms of government financing for disaster
reduction, retention, and transfer, and gaps in such financing;
• Assessment of Fiji’s insurance market and its needs and capacity to serve
the demand for CDRFI products.

Clients and partners

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Climate and disaster The challenge Outcomes and impact
International development agencies have struggled to drive the adoption of • The findings were the
risk insurance in Asia climate and disaster risk insurance (CDRI) products worldwide. Asia poses the centerpiece of the official press
greatest challenge due to its size, location, and presence of many countries statement of the 15th
A pioneering sector-level study with low socio-demographic indicators and complex financial markets. Climate International Microinsurance
change has already exacerbated the number and scale of disaster events in Conference held in Dhaka,
to understand existing CDRI Asia. Hence, stakeholders need to understand the current landscape of CDRI Bangladesh in November 2019.
solutions in 22 markets across products and work to scale up its adoption. • The study informs, for the first
South and Southeast Asia time, the inadequacy of existing
Our engagement CDRI interventions. It serves as a
baseline for stakeholders to
Against this background, MSC analyzed the status of CDRI across 22 countries measure future progress and
in South and Southeast Asia. We collaborated with Deutsche Gesellschaft für offer credible CDRI solutions in
Internationale Zusammenarbeit (GIZ) and the Regulatory Framework Asia.
Promotion of Pro-poor Insurance Markets in Asia (RFPI-Asia).
• Our findings revealed that
MSC undertook robust secondary research on the existing policy and sovereign risk transfers and other
regulatory environments around CDRI and existing CDRI solutions at the insurance mechanisms in the
macro, meso, and micro levels. region directly or indirectly
cover just upward of 212 million
Key informant interviews across Bangladesh, Indonesia, the Philippines, and lives. This still leaves more than
Vietnam further complemented the findings. 91% of the region without any
disaster risk cover.

Clients and partners

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Disaster risk The challenge Outcomes and impact
The Philippines is particularly vulnerable to typhoons and tropical cyclones due • GIZ-RFPI rolled out the
insurance for MSMEs to its geographical location. Over the past decade, the country has lost about micro-DRI product in
8,200 lives to super cyclones and experienced 1,077.8 mm of rainfall that collaboration with the DTI.
Development of flooded all of Baguio city in Benguet province. The super cyclone Haiyan The Government of the
microinsurance products for claimed 6,352 lives and caused economic damages worth USD 2.98 billion. Philippines aggressively
promoted the product
MSMEs in the Philippines to In 2018, GIZ, the Department of Trade and Industry (DTI), and the Government
among vulnerable MSMEs.
transfer natural disaster risk of the Philippines took up the challenge to study the nature of risks vulnerable
MSMEs face and develop solutions to help them transfer this risk through • The product targeted 15,000
financial products. MSMEs in the Philippines,
which included more than
Our engagement 2,000 enterprises in Davao
In 2018, the GIZ- RFPI Asia team engaged MSC to undertake research and City alone.
develop products to help MSMEs transfer disaster risk. MSC covered a sample • The MSMEs benefitted from
of 180 MSMEs and discussed potential financial products with insurance the minimal premium rate of
companies and collateral finance institutions. The exercise led to a product PHP 900 (USD 18.56) per
concept for business interruption insurance for MSME units. annum for annual coverage
of up to PHP 500,000 (USD
Research Product development 10,309).
MSC deployed its MSC’s rapid prototyping
proprietary research tools tool was used to assimilate
and extracted insights information quickly and
from interviews with translate it into a product.
MSMEs and insurance and This helped program
credit service providers. managers launch the
product by early 2019.

Clients and partners

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Weather-index based The challenge Outcomes and impact
In 2013, weather-index insurance (WII) products that target smallholder farmers • Our findings emphasized
microinsurance in Asia were nascent. Most WII product programs were donor-driven, except in that reinsurance serves as a
India and Indonesia where private players were the frontrunners. necessary infrastructure to
Research to deliver market drive growth in WII.
insights into weather index- The WII products faced an uncertain future due to a dependence on donor-led Convinced by the
subsidies, lack of reinsurance products, unpredictable claim experiences, and a importance of such findings,
based microinsurance products rudimentary data collection infrastructure. The Climate and Development the Central Bank of the
for vulnerable communities in Knowledge Network (CDKN), funded by DFID and the Dutch Ministry of Foreign Philippines permitted the
South and Southeast Asia Affairs, wanted to assess the WII market in five Asian countries. It sought to Philippines Crop Insurance
enhance the affordability and outreach of WII solutions and devise a program to Corporation (PCIC) to offer
develop a market for WII. index-based reinsurance in
2018. This also attracted
global reinsurers, such as
Our engagement Swiss Re and Munich Re,
which were earlier
CDKN contracted MSC to deliver market insights on WII in India, Pakistan, Sri disinterested due to the
Lanka, Indonesia, and the Philippines. PCIC’s restrictive mandate.

MSC conducted extensive secondary research and industry expert interviews to • Our report also emphasized
deliver market insights. The report provided holistic information on WII in the significance of real-time
these countries, its advantage over traditional agri-micro insurance, growth weather data to help
drivers, constraints, diversification opportunities, and impact. develop the WII market. In
India, private players, such
MSC also advanced CDKN’s agenda in India through a report presented at the as Skymet, responded to this
Microfinance India Summit. The report received a warm response from the requirement and installed
microfinance and associated financial services industries. about 7,000 automatic
weather stations in around
20 states countrywide.
Clients and partners

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Microinsurance to The challenge Outcomes and impact
Countries with a low socio-demographic index (SDI) have weaker resilience • The project enrolled
mitigate disaster risk against natural disasters than those with higher SDIs. As per the latest 87,000 poor beneficiaries
available data, in 2017, the number of lives lost due to natural disasters from vulnerable sections
was 10 times higher in low-SDI countries than in high-SDI countries. The across two Indian states.
Swiss Agency for Development and Cooperation (SDC) sought to combat this • The dissemination of
Review of SDC’s program disparity in disaster resilience. It launched a program in India in 2015 to market insights on disaster
targeted to develop resilience develop disaster risk transfer solutions for poor and vulnerable risk transfer solutions
among the poor and communities. across South and Southeast
vulnerable through risk The challenge for SDC was to gather lessons from the project, develop a
Asia engaged policymakers,
transfer market stakeholders, and
template for other low-SDI countries, and exit the project. development agencies. It
Our engagement led to a 43% growth in the
active risk transfer
In 2016, MSC undertook a detailed assessment of the theory of change programs available from
proposed by the project, its operating model, financial outlay, and 2012 to 2018, 80% of which
replicability based on the performance and impact assessment. were microinsurance
programs.
MSC used its existing experience in developing pro-poor and customer-
centric financial solutions to evaluate the risk transfer solutions
developed by the project.

MSC collated the findings, suggested the changes needed to globalize the
template, and charted a successful exit plan for SDC.

Clients and partners

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Diagnosing India’s inclusive The challenge Expected outcome
As part of its growing work in the inclusive insurance and risk finance (IRFF)
risk finance landscape space, UNDP conducts diagnostic exercises in several countries to understand
▪ The diagnostic study is
expected to inform a
the contexts, gaps, and opportunities for collaboration and technical assistance. program under UNDP’s
A diagnostic study of India’s Insurance & Risk Finance
The diagnostic study in India sought to review the inclusive insurance and risk Facility in India
inclusive disaster risk financing finance landscape with a focus on the supply and demand situation at an
individual level and the legislative and regulatory environment around these
landscape to inform a program
instruments.
strategy
Based on this diagnostic, UNDP sought to inform its intervention strategy for the
Indian market.

Our engagement
UNDP contracted MSC to undertake the diagnostic study. MSC conducted the
diagnostic study using literature reviews and key-stakeholder consultations.

We consulted stakeholders, such as the Ministry of Agriculture and the National

Disaster Management Authority, to reveal the connection between climate risk
management in the agriculture sector and a broader set of disaster risk
management mechanisms and instruments.

Clients and partners

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Climate-resilient
agriculture

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Sustainable food The challenge Expected outcomes
Emerging African economies, such as Kenya and Ghana, face challenges when they The expected outcomes of
system attempt to establish a sustainable food system in their countries and ensure MSC’s interventions are:
nutrition security. AGRA (a member of the Food and Land Use (FOLU) coalition)
transformation helps the governments of these countries develop suitable programs and policies to ● An increase in the
transform their food systems into sustainable ones. number of FOLU
members in Kenya and
Insights to enable policymaking Ghana, including public
Yet, transformation into a sustainable food system is challenging. In these
for sustainable food system countries, the existing food systems face the following challenges: and private sector
transformation in Kenya and • Agriculture is at subsistence levels, irrigation facilities are limited, and the entities;
countries have a high dependence on basic food grains.
Ghana ● A defined action plan
• The food systems are not inclusive, and the countries depend significantly on
animal sources for protein. for FOLU to influence
• Agriculture production is vulnerable to the effects of climate change. policymaking and
• Despite the challenges in food production, food wastage at various levels program development
remains significant. to sustainably
transform food
Our engagement systems;
MSC supported AGRA to drive policy advocacy and program planning to enable the
governments of Kenya and Ghana to adopt food system transformation programs. ● Involvement of public
funds and donor
MSC conducted a landscape analysis of existing policies, programs, and institutions. support in the
This analysis sought to identify the gaps in the system that inhibit sustainable food programs.
system transformation. Based on the findings, MSC identified prospective partners
of FOLU, determined the action plan for food system transformation, and
prioritized FOLU’s advocacy agenda.

Clients and partners

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Catalytic financing The challenge Expected outcome
GIZ and India’s National Bank for Agriculture and Rural Development (NABARD)
for climate-adaptive designed the CAFRI project to deliver blended finance instruments to attract MSC expects GIZ to use these
insights to nudge NABARD to
private capital for climate-smart agriculture through the farmer producer
agribusiness organization (FPO) ecosystem. GIZ needed a consulting and implementation design a blended finance
partner to assess the needs of smallholder producers to attract private program for FPOs.
financing for climate-smart agriculture and scale the program.
Delivering insights to facilitate
the design and delivery of
catalytic financing for climate- Our engagement
MSC supported GIZ to mobilize private financing through nudges to NABARD to
adaptive agribusiness design and deliver blended finance instruments to FPOs. Under the
engagement, MSC conducted a pilot of CAFRI’s approach with two FPOs in
India’s Bihar state.

The engagement was divided into two parts. In the first part, MSC sought
insights on the climate change-induced physical risks and hazards that the
FPOs face, their vulnerabilities against these risks, and their current coping
mechanisms. Based on these insights, MSC’s experts recommended climate-
adaptive measures categorized into adaptation strategies in the short, medium,
and long term.

In the second part, MSC assessed the financing needed to implement these
adaptation strategies. Based on the assessment, MSC suggested a capital
subsidy package to enable FPOs to set up warehouses to prevent post-harvest
losses.

Clients and partners

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The landscape of climate The challenge Expected outcome
Through its Innovative Climate Risk Insurance (ICRI) project, GIZ seeks to
change adaptation strengthen the climate adaptive capacity of India’s rural population through the
The ICRI project team used the
insights to inform policymaking in
mechanisms and promotion of innovative market-led mechanisms and instruments. The project the insurance sector to enhance the
team struggles with a lack of insights into the available market mechanisms and insurance sector’s capacity to offer
instruments for rural India instruments that target specific climate risks in particular geographies. better climate and disaster risk
management solutions to India’s
Our engagement
A study on climate change’s impact vast rural population.
on rural India and the availability of The ICRI project team approached MSC to deliver insights into the available
market mechanisms and instruments through desk-based research.
mechanisms and instruments that
strengthens resilience against MSC’s climate and disaster risk financing and insurance experts conducted a
climate change literature review to:
• Identify the various extreme weather events and climate hazards specific to a
particular agroclimatic zone
• Outline the past economic impact of these extreme weather events and
climate hazards on the rural regions in these agroclimatic zones.
• Identify cases of market mechanisms and instruments crucial to reduce the
economic impact of these extreme weather events and climate hazards on the
rural population
• Calculate the future estimates of economic losses due to these events
exacerbated by climate change
• Comment on the gaps in existing market mechanisms and instruments that
seek to strengthen the rural population’s climate resilience
• Recommended insurance-led pathways to achieve climate resilience of India’s
rural population

Clients and partners

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Scale-up of the seed The challenge Outcomes and impact
The lack of moisture in the soil during seed planting significantly threatens • An impact evaluation of the
replanting guarantee smallholder farmers’ sustainability in Africa. ACRE Africa launched the program indicated that the
program Replanting Guarantee (RPG) product in 2009 in Kenya to develop resilience
among these farmers. The RPG program involves an index insurance product
insured farmers invested 19%
more in their farms and
that guarantees free replacement of maize seeds that fail to germinate due to earned 16% more than
Advice on marketing strategies a lack of soil moisture. The collaborative offering involves seed companies, uninsured farmers in 2016.
Safaricom, ACRE Africa, and insurance companies. By 2018, ACRE had offered
to scale up the adoption of a •
crop insurance products to
seed replanting guarantee However, ACRE Africa struggled to scale up the product’s adoption. It more than 1.7 million farmers
program in Kenya suspected that marketing efforts remained inadequate for various stakeholders, across Kenya, Tanzania, and
such as seed dealers, agrovet extension agents, and farmers. The marketing Rwanda to cover agricultural
plan needed revision. assets worth USD 181 million.
Our engagement
In 2016, MSC agreed to offer technical assistance to ACRE Africa with financial
support from the Alliance for Green Revolution in Africa (AGRA). MSC conducted
a qualitative primary survey that involved farmers, input dealers, and agrovet
extension agents. The survey identified that the communication gaps at the
level of various stakeholders stifled the product’s marketing and distribution.

MSC designed a comprehensive marketing plan for ACRE Africa based on this
assessment. MSC’s key recommendations were as follows:

• Communicate the value proposition to seed dealers clearly and equip them
with promotional material
• Train and equip extension agents to promote the product to target farmers;
instruct them to deliver the technical aspects as clearly as possible
• Simplify the registration and settlement process to build trust; assign Clients and partners
dedicated time slots for outbound calls aligned to the availability of farmers
in a day; intensify communication during the planting season

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Digital crop The challenge Outcomes and impact
Since early 2015, Ethiopia has been in the grip of the worst droughts in recent • The product was piloted
microinsurance history, which threaten the food security of more than 10 million people. The with 2,000 farmers in 2016
digital technology platform Kifiya Financial Technology PLC sought to respond and scaled up to 100,000
Technical advisory and to the current crisis and seek solutions to Ethiopia’s historical vulnerability to farmers in 2017-18.
capacity-building support to the prolonged drought. Kifiya conceptualized a crop microinsurance program • The project secured
translate an innovative for farmers based on satellite imagery (normalized difference vegetation government support for the
index). financial education and
concept into a feasible digital training of more than
crop microinsurance product The entity, however, struggled to translate the concept into a commercial 100,000 farmers in 2017 and
to develop climate change product. It engaged MSC to turn its vision into reality. a commitment toward a
direct premium subsidy for
resilience Our engagement more than 200,000 farmers
in 2018-19.
In 2016, MSC provided technical advisory and capacity-building support to help
Kifiya translate its pioneering NDVI-based agriculture insurance product
concept into a first-of-its-kind product in Ethiopia. MSC provided the following
support:

• Translated the concept into an easy-to-understand, client-centric index

insurance product
• Forged partnerships with a leading insurer and government agencies
• Analyzed the regulations in Ethiopia and obtained regulatory approval
• Mobilized government support and secured the commitment of financial aid
to the project in the form of direct subsidy to beneficiaries
• Formulated a strategic business plan that aligned seamlessly with the
client’s existing DFS business

Clients and partners

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Product feasibility The challenge Outcomes and impact
Smallholder farmers comprise more than 80% of Tanzania’s farming community. • AGRA accepted MSC’s
study for crop A little over 1.9% of their total farmland is irrigated. The combination of small recommendations and
forged partnerships with
microinsurance landholdings, rainfed sources of water, and lower adoption of technology
exposes smallholder farmers to the vagaries of weather. Over the past decade, TAPBDS Co Ltd and Reliance
Insurance Limited Tanzania
climate change has worsened heat waves and droughts in Sub-Saharan Africa.
An examination of the to launch the Wekeza Kwa
The challenge for Alliance for Green Revolution in Africa (AGRA), a pan-African Uhakika (WEKU) project.
feasibility of effective institution, was to develop resilience among smallholder paddy and maize • In its initial phase, the
microinsurance product farmers through risk transfer products. However, the market did not have project will improve the
delivery to paddy and maize suitable insurance products because most insurers did not find it feasible to climate change resilience of
smallholder farmers in serve smallholder farmers. smallholder farmers through
crop insurance for 20,000
Tanzania Our engagement farmers in Tanzania’s
AGRA engaged MSC from April to June 2018 to undertake a feasibility study Ruvuma and Njombe
around the delivery of crop microinsurance to smallholder paddy and maize regions.
farmers. The MSC team conducted thorough secondary and primary research
through qualitative and quantitative research tools with the following
objectives:
• Understand the features and benefits of crop microinsurance programs and
products available in Tanzania
• Spot the nuances of services that different service providers offer
• Identify the sources of risks for paddy and maize crops managed by
smallholder farmers
• Determine the level of risk of crop failure

MSC recommended that AGRA implement a crop microinsurance project based

on positive inferences drawn from the feasibility study.

Clients and partners

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Distributed renewable
energy

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Access to debt for The challenge Outcomes and impact
Energy4Impact, a UK-based NGO, seeks to reduce poverty in East Africa • The revised approach
energy solution through accelerated access to energy. It provides technical, commercial, and enabled Energy4Impact to
support more than 4,000
providers (MSMEs) in financial advice to MSMEs in the clean and reliable energy solutions sector.
Energy4Impact runs programs that enable MSMEs to access debt markets and microenterprises and 500
Kenya offer credit guarantees to lenders.
small enterprises and helped
the programs mobilize
A review of the framework, In 2016, Energy4Impact understood it needed to evoke greater interest from institutional debt worth USD
institutional lenders on the operational aspects of its flagship programs—Capital 136 million.
assumptions, and
Access for Renewable Energy Enterprises (CARE2) and Developing Energy • The projects have provided
implementation strategy of Enterprises Programme (DEEP). clean energy access to 19
guarantee fund programs million people through 9,000
managed by Energy4Impact in Our engagement businesses and raised USD
180 million in debt.
Kenya Energy4Impact contracted MSC to conduct a consultative review of both
CARE2 and DEEP. • The projects claimed to
have prevented 14 million
MSC reviewed the framework, underlying assumptions, operational tons of CO2 emissions.
guidelines, impact parameters, and implementation progress. It critically
examined the success criteria of the programs.

Based on the assessment, MSC advised Energy4Impact to rework the investee

companies’ cash flow and return parameters and highlight them in the DPRs.
This would enable Energy4Impact to gain the interest of institutional lenders
to fund MSMEs enrolled under these two programs.

Clients and partners

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The role of finance in The challenge Outcomes and impact
The World Wildlife Fund (WWF) identified that the exploitation of forest • The delivery and financing
enhancing access to resources and burning wood for fuel threatens India’s forest ecosystem and model outlined in the
guidance note served as a
clean energy in India local biodiversity. It envisaged that the transition from wood-based fuel to
clean energy in rural India would minimize deforestation and the threat to template for Indian
microfinance institutions to
biodiversity. WWF also believes such communities may have limited access to
Market insights into the role of partner with solar lighting
clean energy due to the upfront cost of adoption.
solution companies to
microfinance institutions as The WWF’s challenge was to validate its hypothesis through research and reach deliver solar lamps on
enablers of access to clean out to a community of financial institutions to support its objectives. credit.
energy in rural India • In FY 2017-18, Indian
microfinance institutions
Our engagement financed 2 million solar lamp
units worth USD 55 million.
In 2014, MSC undertook a study based on the WWF’s hypothesis. It studied
and documented the nuances of financing mass-market clean energy
solutions.

The study involved various stakeholder interviews, which included

microfinance institutions, banks, NGOs, clean energy solution providers, and
sectorial experts.

The study produced an exhaustive guidance note on financing access to

clean energy by pivoting the distribution prowess and financial strength of
the grassroots financial organizations.

Clients and partners

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Distribution of The challenge Outcomes and impact
M-KOPA Solar is a pioneer in home solar energy solutions in Africa. It has solar • Our intervention helped M-
energy-efficient solutions for equipment that range from lamps to refrigerators. M-KOPA’s “pay- KOPA Solar formulate an
as-you-go” model offers affordable and digital credit options to buyers to drive India-specific strategy to
solutions adoption. help it succeed at a scale
similar to Africa.
Formulation and execution of M-KOPA Solar sought to test its model’s scalability in markets outside Africa,
• The company claims to have
such as India. The challenge was India’s complex socio-demographic landscape
a market entry plan for an and the lack of existing models to draw lessons from.
saved USD 650 for each
customer over five years. It
African “pay-as-you-go” solar has also generated 2,500
product company in India Our engagement jobs in East Africa and
In 2015, MSC offered market entry support to M-KOPA Solar under its Digital contributed to 46% of
Finance Plus intervention program for the Bill & Melinda Gates Foundation. household income.
• M-KOPA Solar also helped
MSC undertook the following measures to support M-KOPA Solar: decrease CO2 emissions by
• Identified the best potential market to pilot its products; 1.7 MT and recycled 55,000
• Developed a framework for partner selection; electronic products, which
contributed to a circular
• Recommended changes in the distribution and financing processes of
economy.
potential partners to enhance compatibility with M-KOPA’s processes;
• Formulated an operational business plan.

Clients and partners

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Financing electric mobility

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Operationalization of The challenge Outcomes and impact
A newly formed entity planned to offer rooftop solar and electric mobility • MSC helped the entity
a climate finance financing solutions in the Indian market. It wanted to understand the market finalize a product and
potential for e-mobility financing solutions. business plan to finance
enterprise electric three-wheelers. The
The rapidly changing battery technology, absence of charging standards, the entity has sought regulatory
Market research and product developing nature of the electric two and four-wheeler market, and a clearance to start operations
development advisory to a disorganized electric three-wheeler market posed major challenges for the from the Reserve Bank of
entity. It sought to identify an array of suitable financing solutions for the India.
newly-formed entity in climate electric three-wheeler segment.
• Electric three-wheelers
finance enterprise occupy 88% of the Indian
Our engagement market, the largest share of
the electric mobility market.
The entity engaged MSC to help understand the nuances of the electric In FY 19, the annual sales of
mobility market and advise on suitable products. MSC conducted a market electric three-wheelers
research and interviewed e-rickshaws and electric three-wheeler reached 1.10 million units.
manufacturers, battery and charging solutions providers, dealers, and end- • 400,000 units out of the 1.10
users. million were e-rickshaws.
This offered an equal
Based on the market insights, MSC undertook the following tasks to help the opportunity to generate
entity: income for low-skilled wage
• Rationalized its strategic business plan; earners and manual rickshaw
• Drafted a detailed product and process policy; pullers.
• Drafted an investment memorandum and operational budget.

Clients and partners

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Design and delivery of The challenge Expected outcome
The Government of India plans to achieve 30% EV penetration by 2030. As of
the EVOLVE-RSP 2022, electric vehicle sales accounted for 4.98% of the total vehicles registered
▪ The EVOLVE-RSP plans to
unlock private sector
in the country. financing for 8 million
Electric two and three-wheelers, which comprised more than 95% of the total electric two- and three-
Design and delivery of a blended electric vehicles sold in 2022, will be instrumental to reach the 30% EV wheelers over the next 8-10
finance instrument to unlock penetration target. However, major barriers to the rapid growth of electric years.
private sector financing for electric two- and three-wheelers are the high upfront cost of these vehicles compared
to their internal combustion engine (ICE) counterparts and the lack of ▪ The earmarked USD 250
two and three-wheelers in India affordable financing. million can unlock USD 1.83
billion worth of loans from
The World Bank and NITI Aayog, India, formulated the EVOLVE-risk sharing banks and non-banking
program to address the financial gap. The program offers financial institutions financial institutions to this
USD 250 million in low-cost loans and credit guarantees to unlock private sector sector.
financing toward electric two- and three-wheeler segments. ▪ Based on initial estimates,
Our engagement scaling up of electric two and
three-wheelers supported by
The Small Industries Development Bank of India (SIDBI), the EVOLVE-RSP’s
EV-RSP can potentially
Program Manager, contracted MSC to design the facility’s structure and bring
mitigate up to 9.5 million
stakeholders on board. MSC undertook the following tasks:
tons of CO2 in GHG emissions
• Validated the risks and de-risking measures involved in financing electric two-
during the vehicle’s lifetime.
and three-wheelers, computed the resulting expected credit losses to the
facility, and finalized the terms of the low-cost loan and credit guarantee
facility under the program;
• Designed selection criteria, credit models, and due diligence checklists for
various borrower categories, such as individual salaried segments, drivers,
owners, fleet operators, and leasing companies, among others;
• Designed the criteria to identify and onboard the financial institutions
participating in the program and electric vehicle manufacturers.
Clients and partners

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Elevating the voices of
affected people

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Strengthening climate The challenge Outcome
Bangladesh’s southwest region faces frequent tropical cyclones and storm
resilience and adaptation surges that lead to soil and groundwater salinization. Cyclones have wreaked
▪ CGAP conducted a
consultative workshop in
havoc on the lives and livelihoods of urban and rural poor communities.
through financial Dhaka based on the first set
of insights generated from
services However, the global inclusive finance community has a limited understanding of
the cyclones’ direct and indirect impact on the lives and livelihoods of poor and
the qualitative research.
vulnerable rural and urban communities. Studies have yet failed to adequately ▪ The workshop brought
Insights into the impact of climate reveal how these communities adapt to the increased intensity and frequency of together leading climate
hazards on vulnerable communities these events and how financial services inform their adaptation strategies. adaptation and inclusive
finance communities’
in Bangladesh and the role of members on a common
As a result, the global inclusive finance community cannot formulate programs
financial services to inform their to deliver inclusive financial services that meet these vulnerable communities’ platform.
adaptation strategies adaptation needs. ▪ The workshop allowed these
two communities to share
their perspectives on the
problems caused by climate
Our engagement change impacts on poor
communities and how
CGAP engaged MSC to study and uncover an understanding of the following: inclusive financial services
• Direct and indirect impacts of cyclones and their associated perils on the can lead the pathway to
lives and livelihoods of the affected communities in Southwest Bangladesh; climate adaptation.
• Adaptation strategies of these poor and vulnerable households and the role of
financial services in those strategies;
• Pathways to enhance the role of financial services in the adaptation
strategies and strengthen the resilience of these communities against climate
change.

Clients and partners

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Impact of climate change The challenge Outcome
Climate change will intensify the impact of hydrometeorological events, and
on smallholder farmers floods will be the most devastating climate hazard in the future. The
▪ MSC published the qualitative
study findings.
agriculture economy and the financial health of smallholder farmers will be
and their coping severely affected unless they develop mechanisms to mitigate the increasing
strategies risk of flood and land degradation. ▪ We are in the process of
publishing the smallholder
The international inclusive finance community has a limited understanding of farmer resilience index.
The impacts of climate change on climate change’s direct and indirect impacts on smallholder farmers and their
the lives and livelihoods of Bihar’s strategies to cope with these impacts. Another challenge is the limited body of
smallholder farmers and the role of literature that reveals the role of livelihood assets to strengthen the climate
resilience of smallholder farmers.
livelihood assets to inform their
coping strategies Our initiative
MSC undertook a qualitative research study to understand the impact of floods
on the lives and livelihoods of smallholder farmers in Bihar. The study sought to
understand:
● The kind of livelihood assets that help the smallholder farmers cope with
the impacts of recurring floods;
● The role of financial institutions, social safety nets, and alternative
income opportunities to shape their coping response.

Another major project objective was to identify metrics that can determine the
smallholder farmers’ resilience against climate change before, during, and after
the interventions. We also adopted a cost-effective research model that could
encourage programs and policymakers to use them extensively. The metrics
would inform the effectiveness of interventions to strengthen the smallholder
farmers’ resilience against climate change.

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Energy and natural
resources

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Employment growth The challenge Outcomes and impact
India’s renewable energy sector faced a 43% decline in capacity installation in • MSC compiled a series of
in the renewable Q1 2020 from Q4 2019 due to the lockdown measures imposed to curb COVID- policy measures to improve
19’s spread. The sector holds the key to economic recovery and employment the renewable energy
energy sector generation post-COVID-19, though it is not immune to economic slowdowns. sector’s employment-
generation capacity.
Policy advocacy for a group of The challenge for the Government of India has been the identification of policy
ministers on employment enablers to actualize the sector’s employment potential as part of economic
recovery.
generation in India’s
renewable energy sector
Our engagement
In April 2020, the Government of India constituted a Working Group of Ministers
on Employment and Skill Development. The Ministry of Social Justice and
Empowerment, responsible for the Group of Ministers’ supervision, also set up
a Group of Experts to advise on solutions and policy measures.

Mr. Manoj Sharma, Director-MSC, was appointed as the Group of Expert’s

Cochair. MSC provides secretarial support to the GoEs under this arrangement
through the following measures:

• Engagement of sectorial experts, which includes those in renewable energy,

in discussions and policy advisory;
• Validation of expert opinions through comprehensive research;
• Documentation of validated opinions and presentation of final
recommendations to the GoM.

Clients and partners

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Review and The challenge
Groundwater extraction in India’s Punjab state has increased from 149% of the
Outcomes and impact
• The project stakeholders
implementation naturally-available recharge in 2013 to 165% in 2018. During the same period,
the state experienced a 32.81% negative variance from normal annual rainfall,
accepted most of our
recommendations. They
assessment which further depleted groundwater recharge. Climate change has accentuated started to notify
these periods of dry spells since 2009. In June 2018, the Government of beneficiaries about the
Consultative review of the Punjab’s state electricity distribution company launched the “Paani Bachao, savings calculations through
Paise Kamao” program with implementation support from J-PAL, TERI, and the
Punjab State Power World Bank. The objective was to promote groundwater’s judicious use without
SMS.
Corporation Limited’s “Save harm to the agricultural economy. The stakeholders’ challenge was to identify • The SEDC did not issue
power bills to farmers, even
Water, Earn Money” program the behavioral triggers to motivate farmers not to exploit free electricity and
to those who consumed more
deplete groundwater reserves.
than their eligible quota.
Our engagement • The program’s second phase
plans to reach out to 50,000
MSC conducted a study of the program in July 2019. We observed that some farmers out of a staggering
farmers were skeptical about the metering process deployed to offer financial 1.25 million who use free
incentives and calculate the amount of power farmers save. power to run 1.35 million
Based on the program observations, we recommended the following groundwater pumps.
interventions to change beneficiaries’ behavior toward the program and drive However, till November
its adoption: 2021, only 4.69% of the
power consumers in 200
• Strategic intervention: Set up a dedicated project management unit (PMU) villages had subscribed to
to train extension agents, develop SEDC officials’ capacity, and incorporate the program. Farmers mainly
beneficiary feedback to improve the program’s delivery; opted out because they did
• Operational intervention: Deploy digital metering to instill trust in the not receive the promised
power consumption monitoring mechanism and encourage farmers to self- incentives under the first
monitor consumption; phase.
• Stakeholder-level intervention: Mobilize smallholder farmers’ opinions in Clients and partners
the program’s favor through timely communication of incentives credited
into bank accounts.

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Soil health and The challenge Output and outcome
In April 2014, the Government of India launched the Soil Health Management Based on its studies, MSC
fertility improvement (SHM) program to motivate farmers to optimize chemical fertilizer consumption, suggested measures that could
which would improve soil health, restore soil organic matter, enhance the soil’s increase adoption. These
carbon capture capacity, reduce soil erosion, and restore the micronutrient included localization of
profile. The government conducted soil sampling and issued Soil Health Cards to awareness campaigns, timely
farmers to ensure the adoption of the recommended dose of chemical fertilizers. delivery of soil health reports,
Consultative evaluation of and refinement of the
India’s soil health However, the SHM program could not persuade farmers to use the recommended recommendations on fertilizer
dose of chemical fertilizers based on their farms’ soil health status, even after a use based on a crop’s phenology.
management program year of its launch.
Currently, the program has
issued guidelines to establish soil
testing facilities at the village
Our engagement level to meet the demand for
Between 2016 and 2019, MSC conducted a series of beneficiary-level studies to localized awareness creation and
understand the reasons for the lukewarm response to the program. timely delivery of soil health
reports.
In November 2016, we conducted a pilot study in Andhra Pradesh state’s Krishna
district. Based on its initial findings, we conducted a national-level study in 54 The second cycle of soil
districts across 18 states. sampling and testing conducted
between 2017 and 2019 saw an
MSC’s study sought to uncover structural and behavioral barriers to the SHM increase of 8.30% in the number
system’s adoption among farmers. We noted that the apprehension of reduced of samples tested. The number
productivity due to the reduced chemical fertilizers’ use is a key bias at the of Soil Health Cards dispatched
farmers’ level. to farmers increased by 11.56%.

Clients and partners

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An assessment of The challenge Outcomes and impact
• MSC published the
India’s flagship LPG The Government of India’s Ministry of Petroleum and Natural Gas (MoPNG)
launched the Pradhan Mantri Ujjwala Yojana (PMUY) to address the need for clean
recommendations as a policy
brief that was presented to
distribution program cooking fuel for 50 million households, especially in the country’s rural and the key stakeholders.
remote areas. Toxic fumes, such as carbon monoxide and carbon dioxide from • After the study’s first phase,
burning firewood, kerosene, and peat, threaten human health. Household
Consultative assessment of a the Ministry accepted MSC’s
emissions also lead to higher greenhouse gases in the atmosphere, though their recommendations and
subsidy-backed LPG share is smaller than other sources of CO2 emissions. The program offered a commenced the nationwide
distribution program to drive direct cash subsidy to incentivize households to shift permanently from polluting LPG safety campaign
the adoption of alternatives to cooking fuels to LPG. targeted at PMUY
beneficiaries. It removed
polluting energy sources The MoPNG’s challenge was to reach the initial target of 50 million beneficiaries some of the operational
and ensure behavior change, which would lead to LPG’s adoption as a permanent barriers that affect LPG’s
alternative to polluting cooking fuels. supply.
• The interventions helped the
program enroll 92 million
Our engagement rural households up to April
2022. At this scale, MSC
MSC assessed the implementation in three phases from 2016 to 2018. The estimates that even a 30%
research team interviewed 574 PMUY beneficiaries across 124 villages and 44 permanent switchover to
districts in India. LPG will reduce CO2
emissions by 6.14 million
The assessments enabled MSC to: metric tons annually.
• Understand the behavioral triggers that facilitate the adoption of a cleaner
energy source;
• Identify the deterrents that prevent the regular refilling of LPG cylinders;
• Identify the reasons for the continued coexistence of LPG and unclean fuels;
• Determine the impact on gender equilibrium, as women are the program’s Clients and partners
primary beneficiaries;
• Recommend measures to MoPNG to ensure the continued usage of LPG
cylinders and permanent abolition of polluting cooking fuels.

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Financing energy- The challenge Outcomes and impact
In 2013, the International Finance Corporation (IFC) undertook a project to • A clear outcome of the
efficient technologies promote capital access to MSMEs, which would enable them to adopt energy- workshop was a consensus on
efficient technologies. IFC identified that the key to this initiative’s success the need to utilize financing
was to encourage financial institutions to realize the potential opportunities, to encourage MSMEs to adopt
benefits, and returns in financing MSMEs willing to adopt energy-efficient energy-efficient
Dissemination of insights on technologies. technologies.
the nuances of financing • The Small Industries
IFC’s challenge was to elicit the Indian BFSI sector’s genuine interest to finance
energy-efficient technologies’ MSMEs’ energy efficiency needs.
Development Bank of India
adoption by MSMEs in India (SIDBI) launched the 4E (end-
to-end energy efficiency)
Our engagement program in June 2014 to
promote energy-efficiency
MSC conducted primary research through engagements with MSMEs and financial investments in MSMEs. The
institutions. We synthesized the findings into a strategy to finance MSMEs’ program provides subsidized
adoption of energy-efficient technologies. finance ranging from INR 1–
15 million (USD 13,333–
MSC successfully disseminated actionable insights to key stakeholders in the 200,000) to MSMEs to
Indian BFSI sector through a knowledge series workshop in June 2013. implement the suggested
energy conservation
measures (ECM).
• The scale of environmental
benefits to make more than
63.4 million MSMEs energy-
efficient would be
substantial for a developing
like India.
Clients and partners

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Private sector
engagements

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Enhancing the The challenge Outcomes and impact
The World Bank estimates that 15% of the world’s annual marine catch volume • Numer8 has successfully
climate resilience of is illegal and causes irreparable damage to marine biodiversity. Awareness of registered more than 2,000
marine fisherfolk the adverse impact created by fisherfolk involved in illegal and indiscriminate
fishing and their participation in creating solutions can potentially create
fisherfolk in India. It has
been running pilot programs
balance and reduce the harm to coastal biodiversity caused by large fishing in Bangladesh, Sri Lanka, and
Support to an emerging vessels that organized chains operate. the Philippines.
Indian FinTech firm to extend Numer8, an emerging FinTech firm in India, sought to build robust credit
• Numer8 has a robust credit
engine and a sophisticated
livelihood finance to marine offerings for underwriting loans to increase the participation of vulnerable analytics architecture. It
fisherfolk vulnerable to fisherfolk in marine fishing value chains across several countries. Numer8 seeks to support marine
coastal floods believed that credit is essential for fisherfolk to scale their livelihood activities fisherfolk in Bangladesh,
and enhance their resilience against climate shocks. India, Indonesia, Papua New
Guinea, Sri Lanka, and the
Our engagement Philippines.
MSC supported Numer8 through qualitative insights into the marine fishing • Our intervention has helped
value chain’s economics, the credit needs of fisherfolk, and the nuances of Numer8 offer credit to
financing the low-income segment. MSC interviewed more than 220 fisherfolk and promote
fisherfolk and value chain participants to develop these insights. sustainable fishing. This
initiative is expected to
MSC has also been developing a robust credit engine for Numer8 that could protect the livelihoods of a
apply to diverse countries with minimum customization. significant percentage of the
120 million people who
MSC offered services to Numer8 as part of its umbrella engagement as a depend on fishing for their
technical advisory partner of CIIE.CO’s Bharat Inclusion Initiative. incomes and livelihoods.

Clients and partners

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Climate impact and The challenge
The banking and financial services sector is vital to help countries achieve
Expected outcome
MSC expects DWM’s investee
risk assessment tool nationally determined contributions’ (NDCs) goals. institutions to test and scale up
the tool in their organizations.
However, the BFSI sector in developing countries lacks the necessary tools to
evaluate their business’s climate impact and identify physical risk and MSC will subsequently support
transition risk of climate change. the evaluation of the self-
A self-service climate impact assessments’ outcomes. DWM
and climate risk assessment tool Our engagement might seek MSC’s support to
for financial services companies Developing World Markets (DWM), an international development finance potentially help some of its
institution, engaged MSC to develop a tool that can be applied to various types investee financial institutions
of financial institutions and deliver insights contextualized to the organization’s enhance their climate action
size and country of operations. The tool will help financial institutions evaluate strategies.
their business’s climate impact and identify climate change-linked physical and
transition risks.

MSC developed a climate impact and risk assessment tool for DWM’s portfolio
companies. MSC referred to the following standards and guides to develop the
tool for DWM:
• Task Force on Climate-Related Financial Disclosures’ guidance on metrics,
targets, and transition plans;
• European Microfinance Platform’s Green Index 2.0;
• World Economic Forum’s guiding principles for effective climate corporate
governance;
• PCAF’s global GHG accounting standard for the financial industry;
• The Greenhouse Gas Protocol’s emission factor computation tools.

Clients and partners

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 MSC corporate brochure | Contact us at [email protected]

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