The $6 million initiative is a partnership between Amazon and a US government agency
US President Joe Biden announced the launch of a gender equity fund to promote womenclimate leaders.” He unveiled the new initiative at the United Nations COP 27 conference on Friday.
A partnership between online retail company Amazon and government agency USAID, the fund “leverage private sector contributions to provide women climate leaders with technical skills, networks and capital to develop and scale climate solutions“, noted the White House in a press release.
To help solve climate change, according to Amazon’s Global Vice President of Sustainability Kara Hurst, “we must tackle the gender inequalities that persist in climate finance and ensure that women entrepreneurs have an equal place at the negotiating table and have access to the financing, networks and technical support they need to scaling up climate solutions.”
Describing the severity of gender inequality in the climate space, Amazon revealed that “businesses founded by women typically receive a fraction of total venture capital, and that percentage has dropped during the pandemic.” The e-commerce giant, which has seen its profits soar during the pandemic, has pledged to provide an additional $50 million from its Climate Pledge Fund for investments in climate tech companies founded and run by women. Apart from that, he is contributing $3 million in seed funding to the Climate Gender Equity Fund.
The fund is launching with $6 million in total, with USAID matching Amazon’s $3 million contribution. The White House announcement said the fund was also “activated“with a $21 million credit by USAID from the Biden administration’s Gender Equity and Equality Action Fund to highlight its “commitment to gender-responsive climate action.“This latest program, set up last year with $100 million in public funds, an amount that is expected to double this year, is supposed to”advancing the economic security of women and girls around the world.”
People care more about living standards than climate – EU leader
A $430 billion spending package Biden signed in August included $386 billion in green energy grants and tax credits. The President’s speech at COP27 committed to several more ambitious green initiatives, including “establish an international climate hub for climate-smart agriculture“Tightening emissions standards on the oil and natural gas industry, and using Ukraine as a showcase for small modular reactors (SMRs)”advanced nuclear” Technology.
You can share this story on social media: