Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

Amazon partners with USAID to fund women’s climate solutions

© Shutterstock / Jacob LundPost Thumbnail

Amazon (NASDAQ:AMZN) and the US Agency for International Development (USAID) have partnered to support female entrepreneurs in climate tech.

  • Amazon will commit $53 million to help accelerate women’s climate solutions.
  • Female-founded companies usually receive a fraction of global venture capital, but female entrepreneurs are more likely than their male counterparts to innovate to address social needs. 
  • Women and other underrepresented groups around the world are the most vulnerable to climate change, therefore their voices and ideas must be amplified.

USAID to establish Climate Gender Equity Fund

Amazon will commit a total of $53 million for women’s climate solutions, which consists of $3 million to establish a new USAID fund and $50 million to be invested directly in climate tech companies run by women. 

USAID will match Amazon’s $3 million investment to launch the Climate Gender Equity Fund, a new climate finance facility designed to remove systemic market barriers that prevent women and girls from accessing climate finance. Amazon will serve as a founding partner of the fund.

The Climate Gender Equity Fund will have a global focus and provide grants for businesses, NGOs, accelerators, incubators, and grassroots organisations working on women-led climate solutions. It will also help women access the networks and technical skills they need to develop their climate change technologies.

Amazon’s $50 million investment will be allocated to women-founded and women-led climate tech companies, as well as incubators and accelerators that prioritise women-led entities. The Climate Pledge Fund, its venture capital programme focused on decarbonisation projects, will collaborate with USAID and the Climate Gender Equity Fund to source new investment opportunities and broaden its pipeline of female applicants.

Inequality in funding

Female-founded companies tend to receive disproportionately less funding than their male counterparts. According to PitchBook data, startups founded solely by women raised just 1.1% of the total capital invested in venture capital funding in Europe.

Female entrepreneurs, however, are more likely to focus their innovation on addressing community or social needs, research from the United Nations Conference on Trade and Development shows. Other studies have concluded that female-founded businesses deliver over twice as much revenue per dollar invested compared to male-founded ones.

Kara Hurst, vice president of worldwide sustainability at Amazon, said: “As an important step in solving climate change, we must address the gender inequalities that persist in climate finance, and ensure female entrepreneurs have an equal seat at the table and access to the funding, networks, and technical support they need to scale climate solutions.”

She added: “We’re proud to collaborate with USAID and the Biden administration to help scale women-led climate solutions globally. This is just one part of our broader Climate Pledge goal to reach net-zero carbon by 2040, and we encourage other companies to join us in this effort.”

Gender equality and climate action go hand in hand

Women and other underrepresented groups around the world are the most vulnerable to climate change. This is because disadvantages such as systemic gender-based discrimination can exacerbate the consequences of environmental degradation.

Nonetheless, many women are leaders in environmental action and defenders of their communities. As such, it is crucial to amplify the voices of all those involved in climate-focused initiatives.

As established in the Declaration on Human Rights and Climate Change: “All human beings have the right to active, free, and meaningful participation in planning and decision-making activities and processes that may have an impact on the climate. This particularly includes the rights of indigenous peoples, women and other under-represented groups to equality of meaningful participation”.

Tags

More from SG Voice

Latest Posts