Amazon and the United States Agency for International Development (USAID) announced the first beneficiaries of money aimed at increasing gender-equitable climate action in Africa a year after the Climate Gender Equity Fund (CGEF) was launched. To date, this public-private partnership has committed $20 million, with an additional $5 million pledged by USAID during the COP28 climate change summit. It has the backing of grants manager 2X Global and other founding members.
A women-led acceleration center in Nigeria focused on scaling climate innovations, as well as a South African accelerator supporting female leaders in science, technology, engineering, and math (STEM) sectors and a Kenyan incubator concentrating on women entrepreneurs in climate-smart agriculture, were chosen.
Women entrepreneurs in Africa received less than 1% of startup financing in 2021, highlighting the need for specialist assistance in obtaining climate finance. The CGEF wants to address this disparity by empowering African women to accelerate climate solutions. Among the original members are Amazon, Visa Foundation, Reckitt Benckiser, and The UPS Foundation, who emphasize the need of investing in women-led climate solutions to generate inclusive economic growth.
Gillian Caldwell, USAID's Chief Climate Officer, expressed her enthusiasm for the collaboration, emphasizing the critical need of aiding women and girls on the front lines of climate change. The dedication of the CGEF to sponsoring and supporting women-led initiatives aligns with the growing need for localized solutions in the face of climate change's disproportionate impact on African women and children.
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