Amazon allocates $53 million to climate finance for women

According to Green Biz , in the last year, women led 49% of new businesses started in the US, but the percentage of venture capital they usually obtain annually is surprising: only 2%, according to research by the consulting firm Pitchbook. The above shows that women entrepreneurship is growing around the world, however, obstacles persist not only in regards to the flow of capital and investment for business development, but because there is an imbalance in climate financing for women. A reality that the technology giant Amazon will seek to change. Amazon bets on climate financing for women On its path to sustainability, the company—which has made significant investments to decarbonize its mobility network, specifically across Europe, thus seeking to achieve net-zero carbon emissions by 2040—recognized that an important step in its efforts is to address gender inequalities. gender that persist in climate finance. According to Amazon, combating climate change requires promoting women's leadership and ensuring they have an equal seat at the table and access to the resources, collaboration and technical support necessary to scale climate solutions.

Climate finance for women Because while they are disproportionately affected by climate change and have a first-hand perspective on it, they often lack the capital to find and scale solutions. Investment with a gender perspective This financial gap is the inspiration for a new call to action, coordinated by the GenderSmart initiative , the Women in Finance Climate Action Group and 2X Collaborative Mali Email List who have called during the COP27 climate summit to allocators of public and private climate finance now other key stakeholders in the financial system, to take urgent action to improve gender equality in this area. It appears the call has been heard, as the Climate Pledge Fund —Amazon's venture capital program, which invests in companies pioneering decarbonization technologies and solutions—will collaborate with the United States Agency for International Development (USAID, for its acronym in English) to generate new investment opportunities and expand its list of candidates. “We are proud to collaborate with USAID and the Joe Biden administration to help scale women-led climate solutions globally.



This is just one part of our broader Climate Commitment goal to reach net zero carbon emissions by 2040, and we encourage other companies to join us in this effort.” Kara Hurst, Vice President of Global Sustainability at Amazon. Climate finance for women, essential to address the climate crisis To embrace the spirit of this commitment, Amazon will allocate $53 million to climate finance for women. The investment will come in several forms: $3 million to support the new Climate Gender Equity Fund, a public-private partnership established by USAID. This will be combined with another $3 million from USAID to help launch the Fund. "The ability to make connections and have access to mentors and other resources is as important to addressing the gender gap as money." Kara Hurst, Vice President of Global Sustainability at Amazon. The Climate Gender Equity Fund will have a global focus and will provide grants to companies, NGOs, accelerators, incubators and grassroots organizations working on women-led climate solutions. It will also support efforts to help women access the networks and technical skills they require to accelerate the development of their climate change technologies.