Raising ambition for climate action that delivers for all
Women are at the frontlines of action to address climate change, and their critical contributions need to be supported. Climate action and funding can also exacerbate the challenges women face and undermine their rights if [solutions] are not responsive to women. Mary Robinson, Mary Robinson Foundation
Insufficient inclusion of women in climate actions. Projects have largely failed to recognize and build on women’s vital roles in mitigation as well as adaptation. Global policies mandate that climate programs and actions must empower women and engage them as actors, beneficiaries and leaders, but existing climate funds have inadequate mechanisms to strengthen capacities or incentivize these changes. Women and their collectives have immense and largely untapped potential to tackle these global problems, but they are limited by a lack of resources, capacities and time, and are often overlooked by climate financiers and project developers.
Negligible funds are targeted for activities that effectively engage and benefit women. As of 2017, over 500 billion USD has been allocated for climate mitigation and adaptation projects around the globe. Climate finance, both public and private, could catalyze women’s empowerment, but the amount allocated to women-focused organizations and enterprises is meager and capacities are weak.
The lack of a robust means of measuring outcomes in a way that is reliable and can be simply communicated has meant that few funds are measuring the social impact of climate projects. Measurement, reporting and action are closely connected.
The cost of inaction is high. We cannot afford to exclude the knowledge, skills and networks of women by neglecting their contributions to tackle climate change, nor ignore the threats climate change poses to global gains in advancing gender equality and women’s empowerment.
OUR SOLUTION
A larger group of diversified funders and resources is clearly needed in order for climate finance to catalyze women’s empowerment for dual social and environmental purposes. By developing a new mechanism that can channel resources to women-focused small-scale project developers, and women-led organizations and enterprises, we seek to attract investments that would not otherwise occur and leverage these contributions, generating a return to investors. The Women and Climate Impact Fund presents a unique opportunity to raise ambition for climate action that delivers for all by providing:
- More funding for climate projects of women-led/women-supporting organizations and enterprises
- Enable existing funds to support women’s empowerment through capacity development,
measurement of results and market incentives.
The WCI Fund is a blended finance platform that accepts catalytic capital from donors and investors to create social and financial value through initiatives that simultaneously benefit women and address climate change. The WCI Fund will:
- PROVIDE grants, loans and expertise to women-led organizations and enterprises engaged in climate change initiatives that create self-sustaining revenue.
- BUILD capacities of women’s organizations and enterprises to become profitable social enterprises that provide goods and services for climate change adaptation and mitigation.
- APPLY the W+ Standard™ and recognized carbon standards to measure and quantify results
- PROCURE GHG units from projects managing W+ certified climate projects that can besold, thereby enhancing fund returns
If you are interested in receiving the full concept note, contact us:
jeannettegurung@wcifund.org ; leewest@wcifund.org
Photo @: UN Women
