The Grameen Crédit Agricole Foundation, Beyond Finance, and FosterImpact have collaboratively launched the Women Empowerment for Climate fund, with the ambitious goal of raising US$100 million. This fund is designed to empower women to effectively implement policies aimed at adapting to climate change.
The Grameen Crédit Agricole Foundation is dedicated to combating poverty through financial inclusion, with a particular focus on women. Beyond Finance, a consulting firm based in Hong Kong, specializes in impact investment, international development, and ecosystem building. FosterImpact, on the other hand, provides advisory services to innovative impact funds and supports businesses that promote the Sustainable Development Goals (SDGs).
These three organizations have joined forces to create the Women Empowerment for Climate fund. The primary objective of this fund is to finance and support local enterprises and microfinance institutions that are committed to tailoring their products and services to meet the specific needs of women. Additionally, these organizations aim to foster a better gender perspective within their operations.
The fund will focus on sectors that are crucial for women’s climate adaptation in Asia and Africa, including access to clean water, clean energy, and sustainable agriculture.
Investee organizations will receive technical assistance, and the loans provided will be indexed to impact indicators. These indicators include improved representation of women in key positions and the development of climate adaptation products and services specifically designed for women, among other criteria.
The goal is to raise $100 million from both private and public investors by the end of 2025. Véronique Faujour, the managing director of the Grameen Crédit Agricole Foundation, emphasized the importance of this initiative by stating;
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.
