The Grameen Crédit Agricole Foundation, Beyond Finance and FosterImpact have launched the Women Empowerment for Climate fund, which aims to raise US$100 million to empower women to successfully implement policies to adapt to climate change.
The Grameen Crédit Agricole Foundation fights poverty through financial inclusion, focusing primarily on women, while Beyond Finance is a Hong Kong-based consulting firm specialising in impact investment, international development and ecosystem building. FosterImpact, meanwhile, specialises in advising innovative impact funds and supporting businesses that advance the Sustainable Development Goals (SDGs).
The three organisations have partnered to launch the Women Empowerment for Climate fund, which aims to finance and support local enterprises and microfinance institutions committed to adapting their products and services to the specific needs of women, and to adopt a better gender lens in their organisation.
It will be dedicated to sectors that primarily benefit women’s climate adaptation in Asia and Africa – primarily access to clean water, clean energy and sustainable agriculture.
Investees will be provided with technical assistance, and loans will be indexed to impact indicators such as better representation of women in key positions or the development of climate adaptation products and services dedicated to women, to name but a few.
The fund aims to raise $100 million from private and public investors by the end of 2025.
“We are convinced that women are the real agents of change, and that they need to be given greater responsibility and involvement in decision-making. This is not just a question of equality; for us, it is a necessity if we are to develop the economic growth of our regions, and it is a prerequisite for the success of climate policies,” said Véronique Faujour, managing director of the Grameen Crédit Agricole Foundation.
