The Millennium Development Goals were promulgated by the United Nations for the purpose of eliminating poverty. The Microcredit Summit Campaign is concerned specifically about Goal #1, eradicating extreme hunger and poverty. But the Millennium Development Goals also include Goal #7: Ensure Environmental Sustainability. Our question is, can microfinance, which contributes to achieving Goal #1, harm the natural environment? Or, more positively, can microfinance be a means to achieve both Goal #1 and Goal #7 at the same time? This paper will discuss both sides of the argument, and hopefully convince our audience that microfinance can, and should, contribute to a healthier natural environment for the benefit of the poor.