By NewsBits
Outstanding Nigerian females in the green economy can win $200,000 (Two Hundred Thousand Dollars) in grant aid to scale their businesses courtesy of the Climate Gender Equity Fund (CGEF) of the United States Agency for International Development and Amazon.
The money comes under the “She Sustains Accelerator Programme” of the Climate Gender Equity Fund (CGEF) to support and empower pioneer climate-focused start-ups and early-stage green businesses through education, mentorship, and financing. There will be 56 winners in all. Nineteen winners each will emerge in the first two cohorts and a further 18 winners in the third cohort.
Abuja-based alternative energy firm Clean Tech Hub manages the She Sustains Accelerator Programme. Interested entrepreneurs have until 29 March to submit their entries. Women-led green businesses can participate in She Sustains by applying via the link: https://tinyurl.com/CTHSheSustains.
Ifeoma Malo, founder and CEO, said Clean Tech Hub manages the process to ensure proper representation of women and Nigeria in the global climate and environment discourse and activities. She said the winners would get equity-free grants up to $200,000, access to a global pool of investors, and sustainable entrepreneurship opportunities.
Clean Technology Hub uses She Sustains to catalyse gender-responsive climate innovation, empowering women entrepreneurs to drive meaningful change while addressing critical environmental challenges in Africa and beyond. The “green economy” refers to an economy run under sustainability principles and minimal environmental impact. Crucial elements of a green economy are renewable energy, such as solar, wind, geothermal, hydro, and biomass; energy efficiency; and green infrastructure, such as green roofs, rainwater harvesting systems, and permeable pavements.
According to USAID, the Climate Gender Equity Fund “will increase access to climate finance for gender-responsive, women-led, and women-benefiting organisations that address climate change.”
CGEF is one of the first major activities of USAID’s Climate Finance for Development Accelerator (CFDA), a $250 million initiative designed to mobilise $2.5 billion in public and private climate investments by 2030 to fund a range of climate change mitigation and adaptation solutions focused on scaling up the transition to an equitable and resilient net-zero economy.
Launched with an initial commitment of $6 million between USAID and Amazon, CGEF seeks to leverage at least $60 million in capital from corporations, foundations, bi/multi-laterals, and other funders. CGEF will reach women climate leaders in global emerging markets where USAID operates (see additional detail below). Additionally, through the Climate Pledge Fund’s Female Founder Initiative, Amazon has separately committed to investing $50 million in women-led and women-founded climate technology companies that will enable Amazon to meet its net-zero carbon goals.
