**3. Conclusions**

The use and abuse of natural resources has become an increasingly critical issue to the human and nonhuman population, impairing the human group's capacity to satisfy its own needs. The multidimensional climate crisis is being fueled not only by the burning of fossil fuels but also by the depletion of ecosystems. This has caused an exponentially growing pressure over the environment through unsustainable investments and projects based on a development model that is incompatible with the natural limits of the resources.

In this context, the expected solution should go through a paradigm shift based on empowerment of people and communities, strengthening of solidarity across sectors and stakeholders and finding creative solutions to social investment opportunities. Communities should acquire means and skills to participate freely, actively, and significatively in decision-making processes of development, at any level.

The evidence coming from the experience of community microhydropower systems points out that the reintroduction of ethics in decision-making is fundamental to reach sustainability. In fact, even though the first step is the development of strategies and policies based on a model that is compatible with the recovery and reposition of natural resources, the effectiveness and durability of its implementation are strictly linked to the commitment of the local population in doing so and the cooperation with other stakeholders, far beyond the regime of consequences that has been established.

Based on well-known technology, these initiatives have become a reference of just energy transition experiences, climate action, and integral watershed management, where local communities, interacting with numerous stakeholders in fair conditions, assume the role of guiding their own development, which includes the monitoring and caring of the natural resources in their territories.

Up until now the social investment by the private sector in these projects has increased, but in absolute terms it is still limited. By increasing the participation of the private sector in these climate solutions, based on synergies among stakeholders, such as government agencies, communities, and international cooperation, there is an opportunity for replicating and upscaling these initiatives. As well, risks associated with funding, timings, governance, government changes, among others, can be significantly reduced.

Nonmonetary assessments such as the ones proposed in this paper are necessary to improve the analysis of the return of the social investments, overcoming the present limits and biases of financial assessments. It is also essential to build a framework around social and environmental indicators in order to build a paradigm shift in climate investment. In this sense, Guakía Ambiente, the Small Grants Programme, and other stakeholders are working to face this challenge.
